Silverthorn Wealth Management Limited 31/03/2025 iXBRL

Company registration number: 08850289

Silverthorn Wealth Management Limited

Unaudited filleted financial statements

31 March 2025

Silverthorn Wealth Management Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Silverthorn Wealth Management Limited

Directors and other information


Directors	Mr Martin Potter	(Appointed 6 November 2024)
	Mr David Deacon	(Resigned 6 November 2024)
	Mrs Sara Deacon	(Resigned 6 November 2024)


Company number	08850289


Registered office	17 High Street
	Tring
	HP23 5AH


Accountants	Murphy Collins Limited
	Sovereign House
	82 West Street
	Rochford
	Essex
	SS4 1AS

Silverthorn Wealth Management Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Silverthorn Wealth Management Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Silverthorn Wealth Management Limited for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Silverthorn Wealth Management Limited, as a body, in accordance with the terms of our engagement letter dated 25 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Silverthorn Wealth Management Limited and state those matters that we have agreed to state to the board of directors of Silverthorn Wealth Management Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Silverthorn Wealth Management Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Silverthorn Wealth Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Silverthorn Wealth Management Limited. You consider that Silverthorn Wealth Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Silverthorn Wealth Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Murphy Collins Limited

Chartered Accountants

Sovereign House

82 West Street

Rochford

Essex

SS4 1AS

25 June 2025

Silverthorn Wealth Management Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	7	-		5,201
Tangible assets	8	9,663		35,573
		_______		_______
			9,663		40,774

Current assets
Debtors	9	16,622		23,561
Cash at bank and in hand		1,797		2,709
		_______		_______
		18,419		26,270
Creditors: amounts falling due
within one year	10	( 24,354)		( 30,661)
		_______		_______
Net current liabilities			( 5,935)		( 4,391)
			_______		_______
Total assets less current liabilities			3,728		36,383


Provisions for liabilities			-		( 8,893)

			_______		_______
Net assets			3,728		27,490
			_______		_______

Capital and reserves
Called up share capital	12		100		100
Profit and loss account			3,628		27,390
			_______		_______
Shareholders funds			3,728		27,490
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:

Mr Martin Potter

Director

Company registration number: 08850289

Silverthorn Wealth Management Limited

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	100	83,323	83,423

Profit for the year		64,067	64,067
	_______	_______	_______
Total comprehensive income for the year	-	64,067	64,067

Dividends paid and payable		( 120,000)	( 120,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 120,000)	( 120,000)

	_______	_______	_______
At 31 March 2024 and 1 April 2024	100	27,390	27,490

Profit for the year		48,958	48,958
	_______	_______	_______
Total comprehensive income for the year	-	48,958	48,958

Dividends paid and payable		( 72,720)	( 72,720)
	_______	_______	_______
Total investments by and distributions to owners	-	( 72,720)	( 72,720)

	_______	_______	_______
At 31 March 2025	100	3,628	3,728
	_______	_______	_______

Silverthorn Wealth Management Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 High Street, Tring, HP23 5AH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	25 %	straight line
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	21,389	27,443
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 8,893)	( 2,724)
	_______	_______
Tax on profit	12,496	24,719
	_______	_______

6. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	72,720	120,000
	_______	_______

7. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	52,028	52,028
	_______	_______
Amortisation
At 1 April 2024	46,827	46,827
Charge for the year	5,201	5,201
	_______	_______
At 31 March 2025	52,028	52,028
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	5,201	5,201
	_______	_______

8. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	55,641	13,132	13,737	62,190	144,700
Additions	-	2,439	-	-	2,439
Disposals	( 55,641)	( 564)	-	( 62,190)	( 118,395)
	_______	_______	_______	_______	_______
At 31 March 2025	-	15,007	13,737	-	28,744
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	55,641	8,742	8,790	35,954	109,127
Charge for the year	-	963	742	-	1,705
Disposals	( 55,641)	( 156)	-	( 35,954)	( 91,751)
	_______	_______	_______	_______	_______
At 31 March 2025	-	9,549	9,532	-	19,081
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	-	5,458	4,205	-	9,663
	_______	_______	_______	_______	_______
At 31 March 2024	-	4,390	4,947	26,236	35,573
	_______	_______	_______	_______	_______

9. Debtors

	2025	2024
	£	£
Trade debtors	-	23,561
Other debtors	16,622	-
	_______	_______
	16,622	23,561
	_______	_______

10. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	21,389	27,443
Social security and other taxes	-	132
Other creditors	2,965	3,086
	_______	_______
	24,354	30,661
	_______	_______

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	-	8,893
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	-	8,893
	_______	_______

12. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

13. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Martin Potter	( 1,440)	1,339	( 101)
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Martin Potter	( 1,440)	-	( 1,440)
		_______	_______	_______

14. Controlling party

Potter Financial Partners Limited is the controlling party.