Financial Wealth Solutions Limited

Registered number

09688906

Filleted Accounts

31 July 2025

Financial Wealth Solutions Limited
Registered number:		09688906
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		280,397			214,705
Tangible assets	4		43,362			54,202
			323,759			268,907

Current assets
Debtors	5	56,124			41,005
Cash at bank and in hand		1,940			48,264
		58,064			89,269

Creditors: amounts falling due within one year	6	(118,976)			(105,949)

Net current liabilities			(60,912)			(16,680)

Total assets less current liabilities			262,847			252,227

Creditors: amounts falling due after more than one year	7		(205,576)			(241,371)

Provisions for liabilities			(8,239)			(10,298)


Net assets			49,032			558

Capital and reserves
Called up share capital			100			100
Profit and loss account			48,932			458

Shareholders' funds			49,032			558

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mr M D Colbeck
Director
Approved by the board on 21 December 2025

Financial Wealth Solutions Limited
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.



	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			5		5


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 August 2024					395,457
	At 31 July 2025					395,457

	Amortisation
	At 1 August 2024					180,752
	Provided during the year					19,228
	Prior year adjustment					(84,920)
	At 31 July 2025					115,060

	Net book value
	At 31 July 2025					280,397
	At 31 July 2024					214,705

	Change in Accounting Estimate During the year, the directors reviewed the useful economic life of goodwill acquired in February 2020. Following consideration of: Strong client retention rates, the long-term nature of financial advisory relationships, strong business performance,and industry benchmarks. The directors concluded that a 20-year useful life better reflects the expected economic benefit from the goodwill (previously 10 years). The cumulative effect of this change relating to prior years is £84,920, representing excess amortisation charged in the period from acquisition to 31 July 2024. This amount has been recognised as a separate item in the current year profit and loss account. Under the revised basis, the accumulated amortisation at 31 July 2024 would have been £95,832. The current year amortisation charge is £19,227 (2024: £38,454). Goodwill amortisation is not deductible for corporation tax purposes.

4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 August 2024	16,409		50,200		66,609
	At 31 July 2025	16,409		50,200		66,609

	Depreciation
	At 1 August 2024	11,570		837		12,407
	Charge for the year	968		9,872		10,840
	At 31 July 2025	12,538		10,709		23,247

	Net book value
	At 31 July 2025	3,871		39,491		43,362
	At 31 July 2024	4,839		49,363		54,202


5	Debtors			2025		2024
£					£

	Trade debtors			54,296		39,201
	Other debtors			1,828		1,804
				56,124		41,005


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			34,000		34,000
	Obligations under finance lease and hire purchase contracts			43,076		48,700
	Taxation and social security costs			30,400		16,584
	Other creditors			11,500		6,665
				118,976		105,949


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			205,576		241,371



8	Other information

	Financial Wealth Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
	67 Falsgrave Road
	Scarborough
	North Yorkshire
	YO12 5EA