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Company registration number:
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12111757
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Wealth Oracle Asset Management Limited
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Balance sheet - continued
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as at 31 May 2025
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3
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Accounting Policies
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3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance
with Financial Reporting Standard 105 “The Financial Reporting Standard applicable to the Micro
entities Regime” and the Companies Act 2006.
3.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of
the goods has transferred to the buyer. This is usually at the point that the customer has signed for the
delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of
recoverable expenses when the outcome of a contract cannot be estimated reliably.
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4
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Investments
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Cost
As at 1 June 2024 26,579
Additions/Disposals -400
As at 31 May 2025 26,179
Provision
As at 1 June 2024 0
As at 31 May 2025 0
Net Book Value
As at 31 May 2025 26,179
As at 1 June 2024 26,579
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The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to
small companies for the year ended 31 May 2025.
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The members have not required the company to obtain an audit in accordance with section 476 of the
Companies Act 2006.
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The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to
accounting records and the preparation of financial statements.
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2
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