Company registration number 04426632 (England and Wales)
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
Mr M R Jewson
Mrs S Smithson
Mr A P Stone
Secretary
Mr M R Jewson
Company number
04426632
Registered office
Auditor
Xeinadin Audit Limited
Chartered Accountants
Level 5A, Maple House
149 Tottenham Court Road
London
W1T 7NF
Business address
3rd Floor
30 Lombard Street
London
EC3V 9BQ
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 22
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The directors present the strategic report for the year ended 31 August 2025.

Review of the business

The company’s strategy is to deliver first class client service and highest quality financial and tax advice to both businesses and individuals. The directors consider that, through an ongoing period of considerable change and challenges in the sector and environment we operate in, the business has performed well with profits reflecting the hard work and successful implementation of the corporate strategy. The directors are optimistic that growth will continue over the medium term, and do not envisage any major changes to its core activities in the coming year and beyond.

Principal risks and uncertainties

The directors consider that the principal risks and uncertainties to the business lie mainly in external factors outside of the businesses control, all of which contribute to investor uncertainty. These currently include but are not exclusive to volatile financial and currency markets, interest rates, political uncertainty, UK government policy and the war in Ukraine. Risk is essentially mitigated by maintaining close contact with clients at all times whilst adapting quickly and appropriately to circumstances where necessary.

Financial risk is mitigated by maintaining a healthy cash reserve account, as well as carefully monitored cashflow modelling.

Key performance indicators

The company's performance improved at all levels during 2025: £1.97m (18%) increase in turnover, a £2.34m (199%) increase in operating profit and a £2.30 m (195%) increase in profit before tax.

The business had an 15% decrease in its employment numbers during the current year due to expected natural attrition and a considered cost reduction strategy.

The directors do not consider the disclosure of any further key performance indicators as necessary given the company performance is reflected and detailed in the financial information disclosed in these accounts which are used internally as our key measures of performance.

Other information and explanations

The directors are committed to attracting high quality talent, providing excellent training opportunities with dedicated

mentors and clear career paths, to compliment the growth strategy within the business.

On behalf of the board

Mr M R Jewson
Director
8 April 2026
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 August 2025.

Principal activities

The principal activity of the company continued to be the provision of financial advisory services.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £3,126,500. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M R Jewson
Mrs S Smithson
Mr A P Stone
Financial instruments
Treasury operations and financial instruments

The company's financial instruments comprise of cash at bank, debtors and creditors that arise directly from the operations.

The company operates a treasury function which is responsible for managing the liquidity and interest risks associated with the company’s activities.

The financial risks affecting the company are monitorred and reviewed by the directors on a regular basis.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Credit risk

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Auditor

Xeinadin Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr M R Jewson
Director
8 April 2026
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FINANCIAL LIFESTYLE MANAGEMENT LIMITED
- 4 -
Opinion

We have audited the financial statements of Financial Lifestyle Management Limited (the 'company') for the year ended 31 August 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FINANCIAL LIFESTYLE MANAGEMENT LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include UK Financial Reporting Standards, Company Law, FCA Conduct Rules, Employment Law, Health and Safety legislation, General Data Protection Regulation, Tax and Pensions legislation, and distributable profits legislation.

- Except for FCA Conduct rules, it is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FINANCIAL LIFESTYLE MANAGEMENT LIMITED (CONTINUED)
- 6 -

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Marc Franks BSc FCA FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
Level 5A, Maple House
149 Tottenham Court Road
London
W1T 7NF
8 April 2026
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
2025
2024
as restated
Notes
£
£
Turnover
3
14,119,612
12,173,730
Cost of sales
(5,536,716)
(5,461,461)
Gross profit
8,582,896
6,712,269
Administrative expenses
(5,166,298)
(5,563,432)
Other operating income
94,295
26,743
Operating profit
4
3,510,893
1,175,580
Interest receivable and similar income
7
16,264
13,214
Interest payable and similar expenses
8
(51,157)
(8,431)
Profit before taxation
3,476,000
1,180,363
Tax on profit
9
(913,466)
(337,498)
Profit for the financial year
2,562,534
842,865

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 12 to 22 form part of these financial statements.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
2025
2024
£
£
Profit for the year
2,562,534
842,865
Other comprehensive income
-
-
Total comprehensive income for the year
2,562,534
842,865

The notes on pages 12 to 22 form part of these financial statements.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
518,610
-
0
Tangible assets
12
137,842
157,992
656,452
157,992
Current assets
Debtors
13
1,310,582
1,185,528
Cash at bank and in hand
1,450,597
2,165,940
2,761,179
3,351,468
Creditors: amounts falling due within one year
14
(1,270,372)
(1,108,865)
Net current assets
1,490,807
2,242,603
Total assets less current liabilities
2,147,259
2,400,595
Creditors: amounts falling due after more than one year
15
(570,629)
(254,962)
Provisions for liabilities
Deferred tax liability
17
34,461
39,498
(34,461)
(39,498)
Net assets
1,542,169
2,106,135
Capital and reserves
Called up share capital
19
400
400
Profit and loss reserves
1,541,769
2,105,735
Total equity
1,542,169
2,106,135

The notes on pages 12 to 22 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 8 April 2026 and are signed on its behalf by:
Mr M R Jewson
Director
Company registration number 04426632 (England and Wales)
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
As restated for the period ended 31 August 2024:
Balance at 1 September 2023
400
2,962,870
2,963,270
Year ended 31 August 2024:
Profit and total comprehensive income
-
842,865
842,865
Dividends
10
-
(1,700,000)
(1,700,000)
Balance at 31 August 2024
400
2,105,735
2,106,135
Year ended 31 August 2025:
Profit and total comprehensive income
-
2,562,534
2,562,534
Dividends
10
-
(3,126,500)
(3,126,500)
Balance at 31 August 2025
400
1,541,769
1,542,169

The notes on pages 12 to 22 form part of these financial statements.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
20
3,534,639
1,413,532
Interest paid
(51,157)
(8,431)
Income taxes paid
(600,000)
(611,397)
Net cash inflow from operating activities
2,883,482
793,704
Investing activities
Purchase of intangible assets
(592,869)
-
0
Purchase of tangible fixed assets
(25,798)
(78,186)
Interest received
16,264
13,214
Net cash used in investing activities
(602,403)
(64,972)
Financing activities
Proceeds from borrowings
492,868
554,652
Repayment of borrowings
(362,790)
(14,873)
Dividends paid
(3,126,500)
(1,700,000)
Net cash used in financing activities
(2,996,422)
(1,160,221)
Net decrease in cash and cash equivalents
(715,343)
(431,489)
Cash and cash equivalents at beginning of year
2,165,940
2,597,429
Cash and cash equivalents at end of year
1,450,597
2,165,940

The notes on pages 12 to 22 form part of these financial statements.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 12 -
1
Accounting policies
Company information

Financial Lifestyle Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is . The principal place of business is 3rd Floor, 30 Lombard Street, London, EC3V 9BQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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.

1.2
Prior period error

In the previous year, turnover amounted to £26,743 related to income from contractual rights was incorrectly recognised as turnover. This has been reclassified to other operating income within the profit and loss account. The correction has no impact on profit, total equity or cash flows.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

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

The company provides financial and tax advisory services. Advisory charges are recognised when the services are rendered.

Fee income is recognised in full on acceptance and inception of the associated policy by the relevant third-party product.

1.5
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.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Contractual rights
Over the useful economic life of 7 years
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 13 -
1.7
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:

Computer Equipment
25% reducing balance

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.

1.8
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.

1.9
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. Bank overdrafts are shown within borrowings in current liabilities.

1.10
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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 14 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 15 -
1.12
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

1.14
Retirement benefits

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

1.15
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.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 16 -
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful lives of contractual rights

The company recognises contractual rights to income streams as intangible assets and amortises them over their estimated useful lives.

The useful lives of these contractual rights are determined based on actuarial analysis performed by the actuarial team and management’s best estimate of the expected period over which economic benefits are derived, The actuarial assessment considers historical trends and expected client behaviour across various client plans and applies an average value‑to‑income ratio to estimate the expected duration of the income streams.

The determination of useful lives involves inherent estimation uncertainty, as it is dependent on assumptions regarding client retention, plan maturity, and future income levels. These assumptions reflect management’s view of current and future conditions at the reporting date.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Fee income
14,119,612
12,173,730
2025
2024
£
£
Other revenue
Interest income
16,264
13,214
Income from contrctual rights
94,295
26,743
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
24,500
23,600
Depreciation of tangible fixed assets
45,948
42,347
Amortisation of intangible assets
74,259
-
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 17 -
5
Employees

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

2025
2024
Number
Number
Management, administrative and operation
17
18
Tax services
16
18
Client servicing
31
39
Total
64
75

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,994,481
3,362,861
Social security costs
364,916
366,320
Pension costs
321,632
311,393
3,681,029
4,040,574
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
410,519
486,182
Company pension contributions to defined contribution schemes
63,969
21,500
474,488
507,682
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
138,176
146,667

Dividends paid to the company's directors during the year amounted to £1,005,000 (2024: £612,000).

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 18 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
15,540
11,762
Other interest income
724
1,452
Total income
16,264
13,214
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
15,540
11,762
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
51,157
7,631
Other finance costs:
Other interest
-
0
800
51,157
8,431
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
918,503
328,538
Deferred tax
Origination and reversal of timing differences
(5,037)
8,960
Total tax charge
913,466
337,498
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
9
Taxation
(Continued)
- 19 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,476,000
1,180,363
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
869,000
295,091
Tax effect of expenses that are not deductible in determining taxable profit
55,953
52,994
Permanent capital allowances in excess of depreciation
(6,450)
(19,547)
Deferred tax adjustments in respect of timing differences
(5,037)
8,960
Taxation charge for the year
913,466
337,498
10
Dividends
2025
2024
£
£
Final paid
3,126,500
1,700,000
11
Intangible fixed assets
Goodwill
Contractual rights
Total
£
£
£
Cost
At 1 September 2024
4,772,041
-
0
4,772,041
Additions
-
0
592,869
592,869
At 31 August 2025
4,772,041
592,869
5,364,910
Amortisation and impairment
At 1 September 2024
4,772,041
-
0
4,772,041
Amortisation charged for the year
-
0
74,259
74,259
At 31 August 2025
4,772,041
74,259
4,846,300
Carrying amount
At 31 August 2025
-
0
518,610
518,610
At 31 August 2024
-
0
-
0
-
0

Contractual rights represent the acquired contractual rights to customers' income streams.

FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 20 -
12
Tangible fixed assets
Computer Equipment
£
Cost
At 1 September 2024
321,321
Additions
25,798
At 31 August 2025
347,119
Depreciation and impairment
At 1 September 2024
163,329
Depreciation charged in the year
45,948
At 31 August 2025
209,277
Carrying amount
At 31 August 2025
137,842
At 31 August 2024
157,992
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
125,043
146,792
Other debtors
103,842
125,118
Prepayments and accrued income
1,081,697
913,618
1,310,582
1,185,528
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Other borrowings
16
183,726
369,315
Trade creditors
6,059
1,069
Corporation tax
341,222
22,719
Other taxation and social security
135,612
138,856
Other creditors
13,359
3,077
Accruals and deferred income
590,394
573,829
1,270,372
1,108,865
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 21 -
15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
16
570,629
254,962
Creditors which fall due after five years are payable as follows:
Payable by instalments
194,194
-
16
Loans and overdrafts
2025
2024
£
£
Other loans
754,355
624,277
Payable within one year
183,726
369,315
Payable after one year
570,629
254,962

Interest on loans is accrued on a monthly basis at base rate plus 3.5%. The loans terms are either over 60 or 120 months. They are due for repayment in 2028, 2029, 2030, and 2034.

The guarantors of the loans are the three directors, who are also the shareholders of the company.

17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
34,461
39,498
2025
Movements in the year:
£
Liability at 1 September 2024
39,498
Credit to profit or loss
(5,037)
Liability at 31 August 2025
34,461
FINANCIAL LIFESTYLE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 22 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
321,632
311,393

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
400
400
400
400

There is single class of ordinary shares with various designation. All shares rank pari passu in all respect.

20
Cash generated from operations
2025
2024
£
£
Profit after taxation
2,562,534
842,865
Adjustments for:
Taxation charged
913,466
337,498
Finance costs
51,157
8,431
Investment income
(16,264)
(13,214)
Amortisation and impairment of intangible assets
74,259
-
0
Depreciation and impairment of tangible fixed assets
45,948
42,347
Pension scheme non-cash movement
1,852
25,239
Movements in working capital:
(Increase)/decrease in debtors
(125,054)
61,461
Increase in creditors
26,741
108,905
Cash generated from operations
3,534,639
1,413,532
21
Analysis of changes in net funds
1 September 2024
Cash flows
31 August 2025
£
£
£
Cash at bank and in hand
2,165,940
(715,343)
1,450,597
Borrowings excluding overdrafts
(624,277)
(130,078)
(754,355)
1,541,663
(845,421)
696,242
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