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REGISTERED NUMBER: SC734078 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

HONEST WEALTH MANAGEMENT LTD

HONEST WEALTH MANAGEMENT LTD (REGISTERED NUMBER: SC734078)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 May 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

HONEST WEALTH MANAGEMENT LTD

COMPANY INFORMATION

for the year ended 31 May 2025

| DIRECTOR: | G P Millward

| REGISTERED OFFICE: | 5 Tesla Place

| Motherwell

| Lanarkshire

| ML1 2FU

| REGISTERED NUMBER: | SC734078 (Scotland)

| ACCOUNTANTS: | Mitchell Edwards

| Chartered Certified Accountants

| 24A Ainslie Place

| Edinburgh

| EH3 6AJ

| BANKERS: | Starling Bank

| 7TH Floor

| Norfolk House

| 31 St James'S Square

| London

| SW1Y 4JR

HONEST WEALTH MANAGEMENT LTD (REGISTERED NUMBER: SC734078)

BALANCE SHEET

31 May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 22,458 |  | 3,844 |  |

CURRENT ASSETS

Debtors | 5 | 2,830 |  | 4,655 |  |

Cash at bank | 41,848 |  | 32,509 |  |

44,678 |  | 37,164 |  |

CREDITORS

Amounts falling due within one year | 6 | 17,037 |  | 17,345 |  |

NET CURRENT ASSETS | 27,641 |  | 19,819 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 50,099 |  | 23,663 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (14,612 | ) | - |  |

PROVISIONS FOR LIABILITIES | (4,267 | ) | (731 | ) |

NET ASSETS | 31,220 |  | 22,932 |  |

CAPITAL AND RESERVES

Called up share capital | 10,000 |  | 10,000 |  |

Retained earnings | 21,220 |  | 12,932 |  |

31,220 |  | 22,932 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 19 January 2026 and were signed by:

G P Millward - Director

HONEST WEALTH MANAGEMENT LTD (REGISTERED NUMBER: SC734078)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 May 2025

1. | STATUTORY INFORMATION

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

| The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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.

| Turnover

| Turnover consists of the sales value of work undertaken in the period falling within the company's ordinary activities to supply services to third parties.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery etc | - | 20% on cost and 10% on cost

| Taxation

| Taxation for the year 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 material 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 year 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

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

HONEST WEALTH MANAGEMENT LTD (REGISTERED NUMBER: SC734078)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 May 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 June 2024 | 5,298 |  |

| Additions | 24,139 |  |

| At 31 May 2025 | 29,437 |  |

| DEPRECIATION

| At 1 June 2024 | 1,454 |  |

| Charge for year | 5,525 |  |

| At 31 May 2025 | 6,979 |  |

| NET BOOK VALUE

| At 31 May 2025 | 22,458 |  |

| At 31 May 2024 | 3,844 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| Additions | 23,171 |  |

| At 31 May 2025 | 23,171 |  |

| DEPRECIATION

| Charge for year | 4,634 |  |

| At 31 May 2025 | 4,634 |  |

| NET BOOK VALUE

| At 31 May 2025 | 18,537 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 2,305 |  | 3,311 |  |

| Other debtors | 525 |  | 1,344 |  |

2,830 |  | 4,655 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 4,614 |  | - |  |

| Taxation and social security | 7,182 |  | 6,002 |  |

| Other creditors | 5,241 |  | 11,343 |  |

17,037 |  | 17,345 |  |

HONEST WEALTH MANAGEMENT LTD (REGISTERED NUMBER: SC734078)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 May 2025

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 14,612 |  | - |  |