REGISTERED NUMBER: 09873045 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

6TH APRIL 2024 TO 31ST MARCH 2025

FOR

42 WEALTH MANAGEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S M Moseley-Gray

Mr L R Forrester

REGISTERED OFFICE:

Charter House

Sandford Street

Lichfield

WS13 6QA

REGISTERED NUMBER:

09873045 (England and Wales)

AUDITORS:

TAG Assurance Services Limited

Unit 8, Pendeford Place

Pendeford Business Park

Wobaston Road

Wolverhampton

WV9 5HD

BANKERS:

Metro Bank PLC

1 Southampton Row

London

WC1B 5HA

INCORPORATION:

16th November 2015

FIXED ASSETS

Intangible assets

4

205,667

-

Tangible assets

5

11,029

6,697

216,696

6,697

CURRENT ASSETS

Debtors

6

311,124

203,477

Cash at bank

145,592

72,145

456,716

275,622

CREDITORS

Amounts falling due within one year

7

185,500

104,444

NET CURRENT ASSETS

271,216

171,178

TOTAL ASSETS LESS CURRENT LIABILITIES

487,912

177,875

CREDITORS

Amounts falling due after more than one year

8

(163,606

)

(43,360

)

PROVISIONS FOR LIABILITIES

11

(2,757

)

(1,674

)

NET ASSETS

321,549

132,841

CAPITAL AND RESERVES

Called up share capital

12

30,100

30,100

Convertible loan note reserve

14,808

-

Retained earnings

276,641

102,741

SHAREHOLDERS' FUNDS

321,549

132,841

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

Mrs S M Moseley-Gray - Director

1.	STATUTORY INFORMATION

42 Wealth Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

- Satisfactory rendering of financial intermediation advice to derive commissions.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on reducing balance

Fixtures and fittings - 20% on reducing balance

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

211,334

At 31st March 2025

211,334

AMORTISATION

Amortisation for period

5,667

At 31st March 2025

5,667

NET BOOK VALUE

At 31st March 2025

205,667

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 6th April 2024

4,013

7,330

11,343

Additions

-

7,570

7,570

At 31st March 2025

4,013

14,900

18,913

DEPRECIATION

At 6th April 2024

803

3,843

4,646

Charge for period

642

2,596

3,238

At 31st March 2025

1,445

6,439

7,884

NET BOOK VALUE

At 31st March 2025

2,568

8,461

11,029

At 5th April 2024

3,210

3,487

6,697

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

5/4/24

£

£

Other debtors

2,625

2,625

Amount owed from related party

263,108

165,257

Prepayments and accrued income

45,391

35,595

311,124

203,477

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

5/4/24

£

£

Bank loans and overdrafts (see note 9)

10,358

10,111

Trade creditors

11,586

-

Corporation tax

61,992

-

Social security and other taxes

9,396

4,874

Pensions

497

-

Other loans

26,846

-

Directors' loan accounts

38,512

38,512

Accrued expenses

26,313

50,947

185,500

104,444

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

5/4/24

£

£

Bank loans (see note 9)

6,161

16,514

Other loans

157,445

26,846

163,606

43,360

Other loans comprises a convertible loan note issued during the period. Interest accrues on the principal amount at 8% per annum. The debt is convertible into ordinary £1 shares if the loan note is not repaid by 30th November 2030.

9.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

5/4/24

£

£

Amounts falling due within one year or on demand:

Bank loans

10,358

10,111

Amounts falling due between one and two years:

Bank loans

6,161

16,514

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/25

5/4/24

£

£

Within one year

26,193

24,760

Between one and five years

21,839

52,500

48,032

77,260

11.	PROVISIONS FOR LIABILITIES

31/3/25

5/4/24

£

£

Deferred tax

2,757

1,674

Deferred

tax

£

Balance at 6th April 2024

1,674

Movement

1,083

Balance at 31st March 2025

2,757

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

5/4/24

value:

£

£

30,100

Ordinary

o1

30,100

30,100

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shaun Philpott BSc BFP FCA (Senior Statutory Auditor)

for and on behalf of TAG Assurance Services Limited

14.	RELATED PARTY DISCLOSURES

The company was owed £263,108 (2024:£165,257) by Temple Row Financial Limited which is a company under the common control of two of the directors.