Tower House Wealth Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 3103550

Tower House Wealth Management Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Tower House Wealth Management Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	213,025	228,155
Tangible assets	6	3,768	693
Investments	7	255,216	121,341
		---------	---------
		472,009	350,189

Current assets

Debtors	8	447,887	170,798
Cash at bank and in hand		1,523,332	1,338,788
		------------	------------
		1,971,219	1,509,586

Creditors: amounts falling due within one year	9	303,141		205,618
		------------		------------
Net current assets			1,668,078	1,303,968
			------------	------------
Total assets less current liabilities			2,140,087	1,654,157

Provisions

Taxation including deferred tax	22,569	173
	------------	------------
Net assets	2,117,518	1,653,984
	------------	------------

Capital and reserves

Called up share capital	200	200
Profit and loss account	2,117,318	1,653,784
	------------	------------
Shareholders funds	2,117,518	1,653,984
	------------	------------

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 income and retained earnings has not been delivered.

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 .

Tower House Wealth Management Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

P F Tutin

Director

Company registration number: 3103550

Tower House 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 Ground Floor, 3 Wellbrook Court, Girton, Cambridge, CB3 0NA.

2. Statement of compliance

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

Revenue recognition

The turnover shown in the profit and loss account represents commissions receivable during the year and is inclusive of accrued income.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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:

	Goodwill	-	10% straight line

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 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.

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:

Fixtures and fittings	-	20% straight line
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2024: 20 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024	323,212
Additions	17,738
	---------
At 31 March 2025	340,950
	---------
Amortisation
At 1 April 2024	95,057
Charge for the year	32,868
	---------
At 31 March 2025	127,925
	---------
Carrying amount
At 31 March 2025	213,025
	---------
At 31 March 2024	228,155
	---------

During the year the company acquired clients from fellow members of St James's Place Wealth Management Plc, for total consideration of £17,738 (2024: nil).

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	3,964	798	4,762
Additions	–	5,000	5,000
	-------	-------	-------
At 31 March 2025	3,964	5,798	9,762
	-------	-------	-------
Depreciation
At 1 April 2024	3,271	798	4,069
Charge for the year	666	1,259	1,925
	-------	-------	-------
At 31 March 2025	3,937	2,057	5,994
	-------	-------	-------
Carrying amount
At 31 March 2025	27	3,741	3,768
	-------	-------	-------
At 31 March 2024	693	–	693
	-------	-------	-------

7. Investments

	Listed Investments
	£
Cost
At 1 April 2024 and 31 March 2025	52,340
	--------
Revaluations
At 1 April 2024	( 69,001)
Revaluations	( 133,875)
	---------
At 31 March 2025	( 202,876)
	---------

Carrying amount
At 31 March 2025	255,216
	---------
At 31 March 2024	121,341
	---------

8. Debtors

	2025	2024
	£	£
Other debtors	447,887	170,798
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	15,916	9,112
Social security and other taxes	189,360	115,898
Other creditors	97,865	80,608
	---------	---------
	303,141	205,618
	---------	---------

10. Deferred tax

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

	2025	2024
	£	£
Included in provisions	22,569	173
	--------	----

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

	2025	2024
	£	£
Accelerated capital allowances	–	173
	----	----

11. Related party transactions

The company is controlled by the partners of Streets Management Services, a partnership which provides staff and accommodation which is invoiced to this company. The partners of Streets Management Services also control a number of other companies and limited liability partnerships. At the end of the reporting period the company was owed £200,000 (2024: £nil) by Streets Management Services. No interest was charged and no amounts were written off.