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Registered number: 14317527 MM WEALTH GROUP HOLDINGS LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
MM WEALTH GROUP HOLDINGS LTD COMPANY INFORMATION
Directors | A F J Atkinson
| D A Jones
Registered number | 14317527
Registered office | Wellbrook Court
| Girton
| Cambridge
| CB3 0NA
Independent auditors | Price Bailey LLP
| Chartered Accountants & Statutory Auditors
| Tennyson House
| Cambridge Business Park
| Cambridge
| CB4 0WZ
MM WEALTH GROUP HOLDINGS LTD CONTENTS
| Page
Group Strategic Report | 1 - 4
Directors' Report | 5 - 6
Independent Auditors' Report | 7 - 10
Consolidated Statement of Comprehensive Income | 11
Consolidated Balance Sheet | 12
Company Balance Sheet | 13
Consolidated Statement of Changes in Equity | 14
Company Statement of Changes in Equity | 15
Consolidated Statement of Cash Flows | 16
Notes to the Financial Statements | 17 - 35
MM WEALTH GROUP HOLDINGS LTD GROUP STRATEGIC REPORT FOR THE PERIOD ENDED 31 DECEMBER 2025
Introduction
The directors present a balanced and comprehensive report on the development and performance of our business during the period and its position for the 12 month period ended 31 December 2025.
Business review
For the 12 months to 31 December 2025, the group operated against a backdrop of persistent inflation uncertainty, evolving interest rate expectations, moderating global growth and heightened geopolitical developments, including political transitions in the UK and US, while continuing to deliver strong investment performance across its strategies. Advice and planning activities remained aligned to clients’ financial objectives, with regular reviews undertaken in response to changing economic conditions. Portfolio outcomes reflected disciplined asset allocation, diversification and adherence to the firm’s established investment process during a year of shifting market leadership. Revenue increased from £6.4m* to £6.8m, representing growth of 6.3%, driven in part by increased demand for financial planning following the new Chancellor’s reforming budget. Funds under management are in excess of £650m. Recurring revenue increased from £5.8m* to £6.3m (up 8.6%), and profit before tax increased by 27%* to £2.3m. As the new financial year begins, geopolitical tensions — including developments in the Middle East — and ongoing fiscal and policy uncertainty in major economies continue to influence markets and client planning requirements. The firm remains focused on maintaining consistent service delivery and structured review processes to ensure clients remain informed in a changing environment. The business also continues to prioritise disciplined portfolio oversight and robust risk management. Regular updates, seminars and webinars continue to support client understanding in a fluid market environment. *12 month period equivalent
Principal risks and uncertainties
Regulatory risk The Group is required to manage capital and liquidity requirements and to ensure it has the financial strength and capital adequacy to support the growth of the business and meet the requirement of regulators, the Financial Conduct Authority (FCA). The business is considered as a MIFIDPRU small and non-interconnected firm (SNI). The FCA has established higher and clearer standards of consumer protection across financial services, particularly with Consumer Duty fully embedded in our client centric culture. Under these rules, firms are required to consider the needs, characteristics and objectives of their clients including those with characteristics of vulnerability, and how these factors influence client behaviour at every stage of the client journey. In addition to striving to deliver good client outcomes, firms must understand and evidence whether those outcomes are being met. The Directors and Risk Management department are committed to ensuring that our clients receive good outcomes. The risk of non-compliance is managed through a strong compliance culture, with oversight provided by the Risk Management department. We engage external professional advisers who conduct regular reviews and provide advice. They are contracted to monitor our control environment through regular regulatory requirement updates, file reviews, and annual business risk assessments, with any recommendations promptly implemented. Operational risk Staff are key to the performance and future development of the business and therefore it faces the risk of losing key staff to the competition. This risk is managed by ensuring staff are robustly trained, including sitting professional qualifications well in excess of the FCA requirements and appropriately remunerated with over 50% of staff completing more than 5 years service with the trading subsidiary, MM Wealth Ltd. Market risk During 2025, market risk was shaped by continued concentration in a narrow group of technology and AI-exposed companies in the early part of the year, followed by a gradual broadening of returns across regions and Page 1
MM WEALTH GROUP HOLDINGS LTD GROUP STRATEGIC REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2025 styles. Inflation trends, evolving interest-rate expectations and moderating growth influenced asset pricing throughout, with geopolitical developments contributing to periods of short-term volatility and risk repricing. The Investment Committee maintained regular oversight of portfolio positioning, ensuring strategies remained appropriately diversified and aligned with their stated objectives and risk parameters. External expertise, including economic and strategic oversight from Dr James Clunie and independent fund research from Tim Stubbs, forms part of the firm’s governance and challenge framework supporting investment decision-making. Cyber risk (information security) The risk that the IT systems become compromised by a cyber attack is mitigated through training of our staff of the latest cyber protection techniques and making aware of any spam and phishing emails. Electronic data is protected with user access controls and Two step verification. External 3rd parties are used to monitor and maintain cyber protection software. Future Developments and performance The Group continues to build on its long-standing reputation and looks to deliver further enhanced services to clients and professional connections, maintaining the management policies that have resulted in the substantial growth of recent years. This is through achieving our Chartered Financial Planning Status with the Chartered Insurance Institute. We are very proud that this was successfully retained in April 2026 for the eleventh consecutive year and 8 team members being Chartered in their own right and 2 studying towards their Chartered qualification. Demonstrating our staffs commitment and resilience to any sudden change and maintaining the high standards required to retain Chartered Financial Planning Status. MM Wealth Ltd are proud to celebrate over 40 years in business, in recent years with many of its competitors opting for consolidation, The Group remains ultimately independently owned and in a strong position to manage the future growth of the business. The Shareholders continue to give commitment that it does not want to sell out to national conglomerates or private equity and the focus continues on the development of its core wealth management offering, family wealth management services and bespoke financial planning service, to existing and new clients. Collaborating with professional 3rd party connections including accountants and solicitors to provide the best wealth management service to our clients. Page 2
MM WEALTH GROUP HOLDINGS LTD GROUP STRATEGIC REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2025 S172 (1) statement The directors of the company have throughout the period acted in good faith to promote the success of the company for the benefit of its members as a whole and fully understand their responsibilities over s172(1). The Board have been reviewing its 5-year strategy and holds annual strategy days to consider the likely consequence of such decisions in the long term. Clients First; The Board considers their clients as the most important stakeholder in which the entire business model is centred around. The business continues to form and develop its client relationships to ensure that the highest level of service can be provided. This is through meeting with clients regularly either face to face or virtually and ensuring their individual needs and expectations are met. Employees Matter; Without our employees, we cannot function, with commitment from the Board enriching our team through exams and training. The Group continues to focus on employees’ well-being with the Group having 3 trained mental health first-aiders and publishing quarterly mental health newsletters. The Group continued to assess the engagement of the staff through open discussions. Suppliers Matter; Maintaining key supplier relationships is key in order to develop the business’ long terms strategies. The recognition of technology continuingly developing remains a major Group focus to enhance our client experience with the collaboration of key suppliers. Ensuring timely payment of supplier invoices allows our suppliers to continue to see us as their important client. The Community and the Environment matters; The directors are focused on ensuring that the business mitigates its impact on the surrounding environment through its continued project of understanding and reducing its environmental impact. Each staff member is allocated one day per year to undertake community work of their choice equating to over 200 hours a year. The group has made donations to Addenbrookes Charitable Trust, Arthur Rank Hospice and Caring Together and other local donations during the year. Donations to national charities, Teenage Cancer Trust and Samaritans Purse UK have also been made in the year. Regulators Matter; The trading subsidary is regulated by the Financial Conduct Authority (FCA). MM Wealth conducts itself with the highest possible standards. To ensure it is meeting these high standards; the business continues to consult regularly with several third party consultants along with initiating voluntary audit and inspections of files to ensure that these highest standards do not decrease.
Financial key performance indicators
The Group's key financial and other performance indicators during the period were as follows: Unit 12 Months 11 Months Dec 25 Dec 24 Turnover £ 6,823,263 5,937,150 Profit before tax £ 2,308,786 1,671,171
Other key performance indicators
The total number of employees for the 12 month period is 24 FTE (2024: 23 - 11 month period). Page 3
MM WEALTH GROUP HOLDINGS LTD GROUP STRATEGIC REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2025 This report was approved by the board on 16 April 2026 and signed on its behalf.
................................................ A F J Atkinson Director
Page 4
MM WEALTH GROUP HOLDINGS LTD DIRECTORS' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the period ended 31 December 2025.
Principal activity
The principal activity of the Company is that of a holding company and the principal activity of its subsidiary undertaking MM Wealth Ltd continues to be that of the provision of financial planning and wealth management within the UK market. MM Wealth Ltd is regulated by the Financial Conduct Authority (no. 148496).
Directors
The directors who served during the period were:
A F J Atkinson
D A Jones
Results and dividends
The profit for the period, after taxation, amounted to £1,424,929 (2024 - £993,508- 11 month period). Ordinary dividends were paid amounting to £1,829,261 (2024 - £810,103). The directors do not recommend payment of a final dividend.
Directors' responsibilities statement
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 5
MM WEALTH GROUP HOLDINGS LTD DIRECTORS' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2025
Financial instruments
Objectives and policies The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments are to finance the business' operations. Price risk, credit risk, liquidity risk and cash flow risk In respect of bank balances, the liquidity risk is managed by maintaining a sufficient cash reserve at the bank to allow for short term net cash outflows. All the business’ cash balances are held in such a way that achieves a competitive rate of interest. Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to clients and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors. Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Group since the period end.
Auditors
Under section 487(2) of the Companies Act 2006, Price Bailey LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board on 16 April 2026 and signed on its behalf.
................................................ A F J Atkinson Director
Page 6
MM WEALTH GROUP HOLDINGS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MM WEALTH GROUP HOLDINGS LTD
Opinion
We have audited the financial statements of MM Wealth Group Holdings Ltd (the 'Parent Company') and its subsidiaries (the 'Group') for the period ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of 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 Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's profit for the period 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the Parent 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. Page 7
MM WEALTH GROUP HOLDINGS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MM WEALTH GROUP HOLDINGS LTD (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and ∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report. 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the Parent Company 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' Responsibilities Statement set out on page 5, 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 Group's and the Parent 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so. Page 8
MM WEALTH GROUP HOLDINGS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MM WEALTH GROUP HOLDINGS LTD (CONTINUED)
Auditors' 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 Auditors' 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 Group financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the Group and parent company and the industry in which they operate and considered the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. This included those regulations directly related to the financial statements, including financial reporting, tax legislation and distributable profits and industry regulations including GDPR, employment law, health and safety and Financial Conduct Authority regulations. We communicated the identified laws and regulations with the audit team and remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following: - agreeing the financial statement disclosures to underlying supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiries of management including those responsible for key regulations; and - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - we obtained an understanding of the legal and regulatory requirements applicable to the Group and parent company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, UK taxation legislation and rules and regulations as prescribed by the Financial Conduct Authority. In addressing the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of significant transactions outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 9
MM WEALTH GROUP HOLDINGS LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MM WEALTH GROUP HOLDINGS LTD (CONTINUED)
Use of our report
This report is made solely to the Company's shareholders, 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 shareholders those matters we are required to state to them in an Auditors' 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 shareholders, as a body, for our audit work, for this report, or for the opinions we have formed. Shaun Jordan ACA (Senior Statutory Auditor) for and on behalf of Price Bailey LLP Chartered Accountants Statutory Auditors Tennyson House Cambridge Business Park Cambridge CB4 0WZ 17 April 2026 Page 10
MM WEALTH GROUP HOLDINGS LTD CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 DECEMBER 2025
| 12 months ending 31 December | 11 months ended 31 December
| 2025 | 2024
Note | £ | £
Turnover | 4 | 6,823,263 | 5,937,150
Cost of sales |  | (653,825) | (576,575)
Gross profit |  | 6,169,438 | 5,360,575
Administrative expenses |  | (4,184,145) | (3,775,614)
Operating profit | 5 | 1,985,293 | 1,584,961
Income from fixed assets investments | 9 | 310,051 | 39,617
Interest receivable and similar income | 10 | 63,034 | 115,066
Interest payable and similar expenses | 11 | (72,234) | (68,473)
Profit before taxation |  | 2,286,144 | 1,671,171
Tax on profit | 12 | (861,215) | (677,663)
Profit for the financial period |  | 1,424,929 | 993,508
Profit for the period attributable to: |  |  |
Owners of the parent Company |  | 1,424,929 | 993,508
The notes on pages 17 to 35 form part of these financial statements.
Page 11
MM WEALTH GROUP HOLDINGS LTD REGISTERED NUMBER: 14317527 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible fixed assets |  |  | 7,520,789 |  | 8,582,547
Tangible fixed assets |  |  | 139,702 |  | 176,090
|  |  | 7,660,491 |  | 8,758,637
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 17 | 1,709,330 |  | 1,591,838 |
Current asset investments | 18 | 4,291,344 |  | 1,704,564 |
Cash at bank and in hand | 19 | 1,515,923 |  | 3,635,402 |
|  | 7,516,597 |  | 6,931,804 |
Creditors: amounts falling due within one year | 20 | (1,562,147) |  | (1,350,927) |
Net current assets |  |  | 5,954,450 |  | 5,580,877
Total assets less current liabilities |  |  | 13,614,941 |  | 14,339,514
Creditors: amounts falling due after more than one year | 21 |  | - |  | (383,670)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 23 | (99,058) |  | (35,629) |
Other provisions |  | (67,500) |  | (67,500) |
|  |  | (166,558) |  | (103,129)
Net assets |  |  | 13,448,383 |  | 13,852,715
Capital and reserves |  |  |  |  |
Called up share capital | 25 |  | 737 |  | 737
Share premium account | 26 |  | 13,684,763 |  | 13,684,763
Profit and loss account | 26 |  | (237,117) |  | 167,215
|  |  | 13,448,383 |  | 13,852,715
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2026.
................................................ A F J Atkinson
Director
The notes on pages 17 to 35 form part of these financial statements. Page 12
MM WEALTH GROUP HOLDINGS LTD REGISTERED NUMBER: 14317527 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments |  |  | 15,712,589 |  | 15,712,589
Current assets |  |  |  |  |
Current asset investments | 18 | 4,291,344 |  | 1,704,564 |
Cash at bank and in hand | 19 | 341,486 |  | 2,443,457 |
|  | 4,632,830 |  | 4,148,021 |
Creditors: amounts falling due within one year | 20 | (2,171,741) |  | (1,783,540) |
Net current assets |  |  | 2,461,089 |  | 2,364,481
Total assets less current liabilities |  |  | 18,173,678 |  | 18,077,070
Creditors: amounts falling due after more than one year | 21 |  | - |  | (333,357)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 23 |  | (66,500) |  | -
Net assets |  |  | 18,107,178 |  | 17,743,713
Capital and reserves |  |  |  |  |
Called up share capital | 25 |  | 737 |  | 737
Share premium account | 26 |  | 13,684,763 |  | 13,684,763
Profit and loss account |  |  | 4,421,678 |  | 4,058,213
|  |  | 18,107,178 |  | 17,743,713
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2026.
................................................ A F J Atkinson
Director
The notes on pages 17 to 35 form part of these financial statements. Page 13
MM WEALTH GROUP HOLDINGS LTD CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2025 | 737 | 13,684,763 | 167,215 | 13,852,715
Profit and total comprehensive income for the period | - | - | 1,424,929 | 1,424,929
Dividends: Equity capital | - | - | (1,829,261) | (1,829,261)
At 31 December 2025 | 737 | 13,684,763 | (237,117) | 13,448,383
| The notes on pages 17 to 35 form part of these financial statements.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 February 2024 | 737 | 13,684,763 | (16,190) | 13,669,310
Comprehensive income for the period |  |  |  |
Profit and total comprehensive income for the period | - | - | 993,508 | 993,508
Dividends: Equity capital | - | - | (810,103) | (810,103)
At 31 December 2024 | 737 | 13,684,763 | 167,215 | 13,852,715
| The notes on pages 17 to 35 form part of these financial statements.
Page 14
MM WEALTH GROUP HOLDINGS LTD COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2025 | 737 | 13,684,763 | 4,058,213 | 17,743,713
Profit and total comprehensive income for the period | - | - | 2,192,726 | 2,192,726
Dividends: Equity capital | - | - | (1,829,261) | (1,829,261)
At 31 December 2025 | 737 | 13,684,763 | 4,421,678 | 18,107,178
| The notes on pages 17 to 35 form part of these financial statements.
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 February 2024 | 737 | 13,684,763 | 4,017,042 | 17,702,542
Comprehensive income for the period |  |  |  |
Profit and total comprehensive income for the period | - | - | 851,274 | 851,274
Dividends: Equity capital | - | - | (810,103) | (810,103)
Total transactions with owners | - | - | (810,103) | (810,103)
At 31 December 2024 | 737 | 13,684,763 | 4,058,213 | 17,743,713
| The notes on pages 17 to 35 form part of these financial statements.
Page 15
MM WEALTH GROUP HOLDINGS LTD CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial period | 1,424,929 | 993,508
Adjustments for: |  |
Amortisation of intangible assets | 1,061,758 | 973,279
Depreciation of tangible assets | 54,572 | 78,227
Dividends Received | (43,821) | (39,617)
Interest paid | 49,592 | 68,473
Interest received | (63,034) | (115,066)
Taxation charge | 861,215 | 677,662
(Increase) in debtors | (117,494) | (964,264)
(Decrease) in creditors | (184,734) | (494,008)
Unrealised gain on short-term listed investments | (266,230) | -
Corporation tax (paid) | (811,955) | (603,088)
Net cash generated from operating activities | 1,964,798 | 575,106
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (18,185) | (90,957)
Purchase of current asset investments | (2,320,549) | (1,704,564)
Interest received | 63,034 | 115,066
HP interest paid | (5,591) | (4,321)
Dividends received | 43,821 | 39,617
Net cash from investing activities | (2,237,470) | (1,645,159)
Cash flows from financing activities |  |
Repayment of finance leases | (17,546) | (146)
Dividends paid | (1,829,261) | (810,103)
Net cash used in financing activities | (1,846,807) | (810,249)
Net (decrease) in cash and cash equivalents | (2,119,479) | (1,880,302)
Cash and cash equivalents at beginning of period | 3,635,402 | 5,515,704
Cash and cash equivalents at the end of period | 1,515,923 | 3,635,402
Cash and cash equivalents at the end of period comprise: |  |
Cash at bank and in hand | 1,515,923 | 3,635,402
Page 16
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
1. | General information
MM Wealth Group Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Wellbrook Court, Girton, Cambridge, CB3 0NA. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in GBP, which is the functional currency of the Group. The level of rounding applied is to the nearest £. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
| 2.3 | Reporting period
The financial statements represent a 12 month period to 31 December 2025. Therefore the figures are not directly comparable with the 11 month prior period.
| 2.4 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. A forecast has been prepared and reviewed for the 18 months following the reporting date and this demonstrates adequate headroom available to the Group during the forecasted period. The current environment brought about by the continuation of the Global economy and political environment creates uncertainty however the Group has plans in place to manage the foreseeable challenges and the directors continue to conclude that the adoption of the going concern basis of accounting remains appropriate. Page 17
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.
| 2.6 | Revenue
Revenue is recognised at the fair value of consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Initial Financial planning charges and discretionary management charges are recognised as Revenue at the point when the client's investment funds have been submitted to the product provider. Ongoing adviser charges are based on the value of assets invested during the period the assets are held in the investment portfolio. Revenue is shown net of VAT and clawbacks. When cash inflows and deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Page 18
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.7 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.8 | Leased assets: the Group as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 2.9 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.10 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.11 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds. Page 19
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Current and Deferred Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.13 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life, which is considered to be 10 years. For the purpose 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 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 teh unit pro-rata on the basis of the carrying amount of each asset in the unit.
| 2.14 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 20
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.14 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold improvements | - | 10% | straight line basis
|  |  |  | Motor vehicles | - | 33% | straight line basis
|  |  |  | Fixtures and fittings | - | 15% | straight line basis
|  |  |  | Office equipment | - | 25% | straight line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.15 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.16 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.17 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.18 | Creditors
Short-term creditors are measured at the transaction price.
| 2.19 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 21
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.20 | Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Profit and Loss account.
| 2.21 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 22
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
3. | Judgments in applying accounting policies 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 revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effects on amounts recognised in the financial statements. Useful economic lives of tangible assets The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful lives and residual values are re-assessed annually. Dilapidations Provision is made for dilapidations. These provisions require managements best estimate of the costs that will be incurred on contractual obligations. Accrued income The Group estimates accrued income due to the timings of when adviser charges are received. These estimates are based on a variety of factors including the value of assets invested and pre-determined adviser charges with the product providers. Goodwill Intangible assets are sensitive to change in the estimated lives and residual values of the assets. The useful economic lives and residual values are assessed annually by management, with impairment reviews also being performed annually. These reviews require an estimation of the value in use of the cash generating units to which goodwill has been allocated. These reviews are based on managements experience of past events and their knowledge of upcoming business changes. Investment Valuation An assessment has been made by management as to the carrying value of investments in subsidiaries to ensure there are no indications of impairment.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Financial planning and wealth management | 6,823,263 | 5,937,150
| All turnover arose within the United Kingdom.
Page 23
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amortisation charge | 1,061,758 | 973,279
| Other operating lease rentals | 97,170 | 92,132
| Depreciation | 54,572 | 78,227
6. | Auditors' remuneration
| During the period, the Group obtained the following services from the Company's auditors:
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements | 4,200 | 4,000
| Audit of the financial statements of the company's subsidaries |  |
| The auditing of accounts of associates of the Company | 19,500 | 18,750
| Audit-related assurance services | 1,250 | 1,250
| Taxation compliance services | 2,300 | 2,250
Page 24
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group
|  | 2024 | 2024
|  | £ | £
| Wages and salaries | 1,706,693 | 1,597,783
| Social security costs | 197,578 | 178,756
| Cost of defined contribution scheme | 104,922 | 98,861
|  | 2,009,193 | 1,875,400
| The average monthly number of full time equivalent (FTE) employees, including the directors, during the period was as follows:
|  |  | Group | Group | Company | Company
|  |  | 12 months ending 31 December | 11 months ending 31 December | 12 months ending 31 December | 11 months ending 31 December
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Financial planners | 8 | 8 | - | -
|  | Administration and support | 13 | 12 | - | -
|  | Directors | 3 | 3 | 2 | 2
|  |  | 24 | 23 | 2 | 2
Page 25
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
8. | Directors' remuneration
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 151,918 | 168,605
| Group contributions to defined contribution pension schemes | 10,000 | 10,000
|  | 161,918 | 178,605
| During the period retirement benefits were accruing to 1 directors (2024 - 1) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £141,672 (2024 - £159,142).
| The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £10,000 (2024 - £10,000).
9. | Income from investments
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Gain on fixed asset investments | 266,230 | 31,207
| Dividends received from unlisted investments | 43,821 | 8,410
10. | Interest receivable
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 63,034 | 115,066
Page 26
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
11. | Interest payable and similar expenses
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loan interest payable | 66,643 | 64,152
| Finance leases and hire purchase contracts | 5,591 | 4,321
|  | 72,234 | 68,473
12. | Taxation
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 797,786 | 672,624
| Total current tax | 797,786 | 672,624
| Deferred tax |  |
| Origination and reversal of timing differences | 63,429 | 5,039
| Tax on profit | 861,215 | 677,663
Page 27
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 12.Taxation (continued)
| Factors affecting tax charge for the period
| The tax assessed for the period is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 12 months ending 31 December | 11 months ending 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 2,286,144 | 1,671,171
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 571,536 | 417,793
| Effects of: |  |
| Non-tax deductible amortisation of goodwill and impairment | 265,593 | 243,320
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 6,945 | 27,739
| Capital allowances for period in excess of depreciation | 9,069 | (9,138)
| Utilisation of tax losses | - | (44)
| Gains not taxable | (66,557) | (7,802)
| Other movements | 11,199 | 756
| Deferred tax charge | 63,430 | 5,039
| Total tax charge for the period | 861,215 | 677,663
| Factors that may affect future tax charges
There are no factors that may affect future tax.
13. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends | 1,829,261 | 810,103
Page 28
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
14. | Intangible assets
| Group
|  | Goodwill
|  | £
| Cost |
| At 1 January 2025 | 10,617,584
| At 31 December 2025 | 10,617,584
| Amortisation |
| At 1 January 2025 | 2,035,037
| Charge for the period on owned assets | 1,061,758
| At 31 December 2025 | 3,096,795
| Net book value |
| At 31 December 2025 | 7,520,789
| At 31 December 2024 | 8,582,547
| The company had no intangible fixed assets at 31 December 2025.
Page 29
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
15. | Tangible fixed assets
| Group
|  | Long-term leasehold property | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost |  |  |  |  |
| At 1 January 2025 | 80,953 | 77,607 | 171,990 | 202,739 | 533,289
| Additions | - | - | - | 18,185 | 18,185
| Disposals | - | - | - | (41,561) | (41,561)
| At 31 December 2025 | 80,953 | 77,607 | 171,990 | 179,363 | 509,913
| Depreciation |  |  |  |  |
| At 1 January 2025 | 53,353 | 4,370 | 154,313 | 145,163 | 357,199
| Charge for the period on owned assets | 8,096 | - | 1,813 | 27,182 | 37,091
| Charge for the period on financed assets | - | 17,481 | - | - | 17,481
| Disposals | - | - | - | (41,560) | (41,560)
| At 31 December 2025 | 61,449 | 21,851 | 156,126 | 130,785 | 370,211
| Net book value |  |  |  |  |
| At 31 December 2025 | 19,504 | 55,756 | 15,864 | 48,578 | 139,702
| At 31 December 2024 | 27,600 | 73,237 | 17,677 | 57,576 | 176,090
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 55,756 | 73,237
Page 30
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
16. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 15,712,589
| At 31 December 2025 | 15,712,589
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| MM Wealth Ltd | Wellbrook Court, Girton, Cambridge, England, CB3 0NA | Ordinary | 100%
17. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 21,156 | 18,900 | - | -
| Other debtors | 28,718 | 8,806 | - | -
| Prepayments and accrued income | 1,659,456 | 1,564,132 | - | -
|  | 1,709,330 | 1,591,838 | - | -
18. | Current asset investments
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Listed investments | 4,291,344 | 1,704,564 | 4,291,344 | 1,704,564
Page 31
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
19. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 1,515,923 | 3,635,402 | 341,486 | 2,443,457
20. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade creditors | 145,027 | 131,000 | - | -
| Amounts owed to group undertakings | - | - | 1,757,886 | 1,357,886
| Corporation tax | 412,307 | 382,453 | 13,855 | 25,654
| Other taxation and social security | 155,286 | 51,433 | - | -
| Obligations under finance lease and hire purchase contracts | 55,904 | 23,136 | - | -
| Other creditors | 424,217 | 431,809 | 400,000 | 400,000
| Accruals and deferred income | 369,406 | 331,096 | - | -
|  | 1,562,147 | 1,350,927 | 2,171,741 | 1,783,540
| Included within creditors are secured debts amounting to £55,904 (2024 - £73,499) which are secured on the fixed assets to which they relate.
21. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Net obligations under finance leases and hire purchase contracts | - | 50,313 | - | -
| Other creditors | - | 333,357 | - | 333,357
|  | - | 383,670 | - | 333,357
Page 32
MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
22. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 55,904 | 23,136
| Between 1-5 years | - | 50,313
|  | 55,904 | 73,449
23. | Deferred taxation
| Group
|  | 31 December 2025 | 31 December 2024
|  | £ | £
| At beginning of year | (35,629) | (30,590)
| Charged to profit or loss | (63,429) | (5,039)
| At end of year | (99,058) | (35,629)
| Company
|  | 31 December 2025 £ | 31 December 2024 £
| Charged to profit or loss | (66,500) | -
| At end of year | (66,500) | -
| The provision for deferred taxation is made up as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Accelerated capital allowances | (32,558) | (35,629) | - | -
| Other short term timing differences | (66,500) | - | (66,500) | -
|  | (99,058) | (35,629) | (66,500) | -
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MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
24. | Provisions
| Group and Company
|  | Dilapidations provision
|  | £
| At 1 January 2025 | 67,500
| At 31 December 2025 | 67,500
| The dilapidations provision relates to the leasehold property where there is a contractual obligation to reinstate the premises to the condition at the time of acquisition.
25. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10 (2024 - 10) Ordinary A shares of £0.10 each | 1 | 1
|  | 10 (2024 - 10) Ordinary B shares of £0.10 each | 1 | 1
|  | 10 (2024 - 10) Ordinary D shares of £0.10 each | 1 | 1
|  | 7,340 (2024 - 7,340) Ordinary shares of £0.10 each | 734 | 734
|  |  | 737 | 737
26. | Reserves
Profit and loss account This account includes all current and prior period retained profits and losses.
27. | Analysis of net debt
|  | At 1 January 2025 | Cash flows | At 31 December 2025
|  | £ | £ | £
| Cash at bank and in hand | 3,635,402 | 2,171,864 | 5,807,266
| Finance leases | (73,449) | 17,545 | (55,904)
| Liquid investments | 1,704,564 | (1,704,564) | -
|  | 5,266,517 | 484,845 | 5,751,362
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MM WEALTH GROUP HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
28. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £104,922 (2024: £98,861). Contributions totalling £17,804 (2024: £16,630) were payable to the fund at the balance sheet date and are included in creditors.
29. | Commitments under operating leases
| At 31 December 2025 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | 123,180 | 97,170
| Later than 1 year and not later than 5 years | 477,326 | 214,460
| Later than 5 years | 541,484 | -
|  | 1,141,990 | 311,630
30. | Related party transactions
| During the period, the group made purchases of £29,205 (2024: £24,541) from a company with a common director. Amounts outstanding at the period end and owed to companies with common directors was £Nil (2024: £2,161). The company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned group companies. The gross remuneration of key management personnel is disclosed in note 8.
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