Registration number:
Symes Wealth Management Ltd
for the Year Ended 30 September 2025
Symes Wealth Management Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Symes Wealth Management Ltd
Company Information
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Directors |
Mrs Sheena Symes Mr Scott Symes |
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Registered office |
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Bankers |
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Accountants |
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Symes Wealth Management Ltd
(Registration number: 09079947)
Balance Sheet as at 30 September 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2,000 |
2,000 |
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Retained earnings |
60,726 |
198,670 |
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Shareholders' funds |
62,726 |
200,670 |
For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Symes Wealth Management Ltd
(Registration number: 09079947)
Balance Sheet as at 30 September 2025
Approved and authorised by the
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Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machienery |
15% reducing balance |
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Fixtures and fittings |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
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Office equipment |
25% reducing balance |
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Leasehold improvements |
6 years straight line |
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
25 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 October 2024 |
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At 30 September 2025 |
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Amortisation |
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At 1 October 2024 |
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Amortisation charge |
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At 30 September 2025 |
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Carrying amount |
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At 30 September 2025 |
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At 30 September 2024 |
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Goodwill cost consists of goodwill transfered from the sole trader business of £32,262 has been amortised over 5 years. The final amortisation charge of £6,454 relating to the goodwill is in 2019 and the carrying amount is nil.
The remaining goodwill cost of £2,086,434 is purchase goodwill which is being amortised over 25 years from the original purchase date. The amortisation charge for the year is £83,458 and the carrying amount is £1,606,811.
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 October 2024 |
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Additions |
- |
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- |
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At 30 September 2025 |
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Depreciation |
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At 1 October 2024 |
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Charge for the year |
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At 30 September 2025 |
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Carrying amount |
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At 30 September 2025 |
- |
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At 30 September 2024 |
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Included within the net book value of land and buildings above is £Nil (2024 - £1,162) in respect of short leasehold land and buildings.
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Debtors |
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2025 |
2024 |
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Other debtors |
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Prepayments |
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Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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2025 |
2024 |
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Due after more than five years |
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After more than five years by instalments |
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Creditors include bank loans repayable by instalments of £775,852.00 (2024 - £867,906.00) due after more than five years.
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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2,000 |
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2,000 |
Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank overdrafts |
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Other borrowings |
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- |
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Bank borrowings
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Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
Other borrowings
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Funding Circle Flexpay Account is denominated in GBP with a nominal interest rate of . The carrying amount at year end is £25,701 (2024 - £Nil). This Flexpay Account provides working capital that is repayable in 12 months or less. No interest is charged on the capital borrowed. Instead a flat transaction fee of 1.99% is applied. |
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Related party transactions |
Summary of transactions with all entities with joint control or significant interest
For managment services provided relatng to the property, the vehicle and the company.
Expenditure with and payables to related parties
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2025 |
Entities with joint control or significant influence |
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Leases |
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2024 |
Entities with joint control or significant influence |
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Rendering of services |
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Leases |
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Symes Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
Loans to related parties
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2025 |
Entities with joint control or significant influence |
Key management |
Total |
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At start of period |
- |
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Advanced |
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Repaid |
- |
( |
( |
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At end of period |
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2024 |
Key management |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
( |
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At end of period |
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Terms of loans to related parties