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Registered Number: 08824708
England and Wales

 

 

 

ASSETONE WEALTH SYSTEM LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2024

End date: 31 August 2025

Assetone Wealth System Limited
Contents Page
For the year ended 31 August 2025
Directors Mrs C M Tiong
K K Tiong
Registered Number 08824708
Registered Office Merlin House
Brunel Road
Theale, Reading
Berkshire
RG7 4AB
Trading Address Eastley House
Brightwalton
Newbury
Berkshire
RG20 7DE
Accountants Kirkpatrick and Hopes Limited
Merlin House
Brunel Road
Theale, Reading
Berkshire
RG7 4AB
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2025.
Directors
The directors who served the company throughout the year were as follows:
Mrs C M Tiong
K K Tiong
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
K K Tiong
Director

Date approved: 26 May 2026
2
Report to the directors on the preparation of the unaudited statutory accounts of Assetone Wealth System Limited for the year ended 31 August 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Assetone Wealth System Limited for the year ended 31 August 2025 which comprise of the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Assetone Wealth System Limited, as a body, in accordance with the terms of our engagement letter dated 26 May 2026 Our work has been undertaken solely to prepare for your approval the accounts of Assetone Wealth System Limited and state those matters that we have agreed to state to the Board of Directors of Assetone Wealth System Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Assetone Wealth System Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Assetone Wealth System Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Assetone Wealth System Limited. You consider that Assetone Wealth System Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Assetone Wealth System Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 August 2025



....................................................
Kirkpatrick and Hopes Limited
Merlin House
Brunel Road
Theale, Reading
Berkshire
RG7 4AB
26 May 2026
3
 
 		 Notes
 		 2025
£		   2024
£
Fixed assets      
Tangible fixed assets 3 0    14 
0    14 
Current assets      
Debtors 4 93,306    108,748 
Cash at bank and in hand (24,985)   (5,334)
68,321    103,414 
Creditors: amount falling due within one year 5 (130,236)   (99,899)
Net current assets (61,915)   3,515 
 
Total assets less current liabilities (61,915)   3,529 
Creditors: amount falling due after more than one year 6 (7,032)   (8,777)
Net assets (68,947)   (5,248)
 

Capital and reserves 		     
Called up share capital 2    2 
Profit and loss account (68,949)   (5,250)
Shareholders' funds (68,947)   (5,248)
 


For the year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 May 2026 and were signed on its behalf by:


-------------------------------
K K Tiong
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2023 2  (38,079) (38,077)
Profit/(Loss) for the year 32,829  32,829 
Total comprehensive income for the year -  32,829  32,829 
Total investments by and distributions to owners -  -  - 
At 31 August 2024 2  (5,250) (5,248)
At 01 September 2024 2  (5,250) (5,248)
Profit/(Loss) for the year (63,699) (63,699)
Total comprehensive income for the year -  (63,699) (63,699)
Total investments by and distributions to owners -  -  - 
At 31 August 2025 2  (68,949) (68,947)
5
General Information
Assetone Wealth System Limited is a private company, limited by shares, registered in England and Wales, registration number 08824708, registration address Merlin House, Brunel Road, Theale, Reading, Berkshire, RG7 4AB. The trading address of the company is Eastley House, Brightwalton, Newbury, Berkshire, RG20 7DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer equipment 33% on cost
Office equipment 20% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2024 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 September 2024 2,582    2,582 
Additions -    - 
Disposals -    - 
At 31 August 2025 2,582    2,582 
Depreciation
At 01 September 2024 2,568    2,568 
Charge for year 14    14 
On disposals -    - 
At 31 August 2025 2,582    2,582 
Net book values
Closing balance as at 31 August 2025 -    - 
Opening balance as at 01 September 2024 14    14 


4.

Debtors: amounts falling due within one year

2025
£		   2024
£
Amount Owed by Group Undertakings 1,150    20,078 
Prepayments & Accrued Income 151    0 
Other Debtors 86,700    88,670 
VAT 5,305    0 
93,306    108,748 

5.

Creditors: amount falling due within one year

2025
£		   2024
£
Trade Creditors 328    0 
Bank Loans & Overdrafts 10,337    10,289 
Amounts Owed to Group Undertakings 88,337    31,059 
Corporation Tax 8,061    12,695 
Accrued Expenses 0    18,822 
Other Creditors 23,173    22,231 
VAT 0    4,803 
130,236    99,899 

6.

Creditors: amount falling due after more than one year

2025
£		   2024
£
Bank Loans & Overdrafts 7,032    8,777 
7,032    8,777 

6