Company registration number 08991126 (England and Wales)
PK WEALTH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PK WEALTH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
PK WEALTH LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
840,155
-
0
Tangible assets
5
5,000
-
0
Investments
6
415,000
-
0
1,260,155
-
0
Current assets
Debtors
8
139,232
77,486
Cash at bank and in hand
152,298
187,989
291,530
265,475
Creditors: amounts falling due within one year
9
(86,379)
(41,006)
Net current assets
205,151
224,469
Net assets
1,465,306
224,469
Capital and reserves
Called up share capital
10
1,480,155
225,000
Profit and loss reserves
(14,849)
(531)
Total equity
1,465,306
224,469

The notes on pages 2 to 8 form part of these 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 the provisions of FRS102 section 1A - small entities.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 February 2026 and are signed on its behalf by:
Mr M Crawley-Boevey
Director
Company registration number 08991126 (England and Wales)
PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

PK Wealth Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is 23 Coleridge Street, Hove, England, BN3 5AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 section 1A “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is exempt from the requirement to prepare consolidated financial statements under section 399 of the Companies Act 2006 as it qualifies as a small company. The directors have therefore not prepared consolidated financial statements, the financial statements present information as an individual entity only.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

PK Wealth Limited was a wholly owned subsidiary of PK Group Ventures Limited until 21 March 2025 on which date PK Wealth Limited was acquired by Shackleton Advisers Limited.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised in the month the management service is provided.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
straight line over 4 years
PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The company only enters into basic financial instruments.

PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

No significant judgements have had to be made by management in preparing these financial statements.

PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
-
0
Additions
840,155
At 31 March 2025
840,155
Amortisation and impairment
At 1 April 2024 and 31 March 2025
-
0
Carrying amount
At 31 March 2025
840,155
At 31 March 2024
-
0
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
-
0
Additions
5,000
At 31 March 2025
5,000
Depreciation and impairment
At 1 April 2024 and 31 March 2025
-
0
Carrying amount
At 31 March 2025
5,000
At 31 March 2024
-
0
PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
415,000
-
0
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024
-
Additions
415,000
At 31 March 2025
415,000
Carrying amount
At 31 March 2025
415,000
At 31 March 2024
-
7
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
PK Financial Planning LLP
UK
Financial Planning
Member
100.00

PK Financial Planning LLP has a registered address of 23 Coleridge Street, Hove, England, BN3 AB

8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,927
62,667
Amounts owed by group undertakings
31,243
7,074
Other debtors
87,062
7,745
139,232
77,486
PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
63,918
6,520
Corporation tax
89
1,389
Other taxation and social security
10,474
25,806
Other creditors
11,898
7,291
86,379
41,006
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,480,155
225,000
1,480,155
225,000

On 27 February 2025 1,255,155 ordinary shares were issued to PK Group Ventures Limited to acquire the equitable interest including goodwill of PK Financial Planning LLP.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Anne Dwyer Bsc(Hons) FCA
Statutory Auditors:
Kreston Reeves Audit LLP
Date of audit report:
6 February 2026
PK WEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
12
Acquisition

On 27 February 2025 the company acquired 100% of the business of PK Financial Planning LLP.

Fair Value
£
Intangible assets
840,155
Fixed capital
415,000
Total consideration
1,255,155
Satisfied by:
£
Issue of shares
1,255,155
13
Related party transactions
Transactions with related parties

The company had no material transactions in the period that were not concluded under normal market conditions with related parties.

Other information

On 27 February 2025 the company acquired the equitable interest including goodwill of PK Financial Planning LLP, a related entity, from PK Group Ventures Limited. On 21 March 2025 Shackleton Advisers Limited acquired 100% of the equity share capital of the company. As at 31 March 2025, included in fixed asset investments is £415,000 (2024: £Nil), in respect of the company's investment in the fixed capital of PK Financial Planning LLP.

14
Parent company

The ultimate controlling party and parent company of PK Wealth L imited up to 21st March 2025 was PK Group Ventures Limited. From that date Shackleton Advisers Li mited, a company registered in the United Kingdom, became the ultimate controlling party and parent company of PK Wealth L imited. Shackleton Advisers Limited prepares group financial statements and copies can be obtained from 40 Gracechurch Street, London, EC3V 0BT.

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