Company registration number 11643649 (England and Wales)
SMITHSON WEALTH MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
SMITHSON WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SMITHSON WEALTH MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
304
405
Current assets
Debtors
6
44,727
47,589
Cash at bank and in hand
26,403
557
71,130
48,146
Creditors: amounts falling due within one year
7
(69,898)
(85,038)
Net current assets/(liabilities)
1,232
(36,892)
Total assets less current liabilities
1,536
(36,487)
Creditors: amounts falling due after more than one year
8
(177,837)
(196,071)
Net liabilities
(176,301)
(232,558)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(176,401)
(232,658)
Total equity
(176,301)
(232,558)

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 July 2026
Mr G Smithson
Director
Company registration number 11643649 (England and Wales)
SMITHSON WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -
1
Accounting policies
Company information

Smithson Wealth Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1.6 Howard House Commercial Centre, Howard Street, North Shields, NE30 1AR.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

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

1.3
Revenue

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

1.4
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

1.5
Intangible fixed assets other than goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangibles are being amortised evenly over their estimated useful life of five years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SMITHSON WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

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

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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

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

1.10
Retirement benefits

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

SMITHSON WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
3
3
4
Intangible fixed assets
Goodwill
Total
£
£
£
Cost
At 1 November 2024 and 31 October 2025
10,000
415,997
425,997
Amortisation and impairment
At 1 November 2024 and 31 October 2025
10,000
415,997
425,997
Carrying amount
At 31 October 2025
-
0
-
0
-
0
At 31 October 2024
-
0
-
0
-
0
SMITHSON WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2024 and 31 October 2025
2,366
Depreciation and impairment
At 1 November 2024
1,961
Depreciation charged in the year
101
At 31 October 2025
2,062
Carrying amount
At 31 October 2025
304
At 31 October 2024
405
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
16,831
19,733
Other debtors
27,896
27,856
44,727
47,589
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
25,119
22,153
Corporation tax
15,659
9,354
Other taxation and social security
1,227
213
Other creditors
27,893
53,318
69,898
85,038
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
177,837
196,071
Creditors which fall due after five years are payable as follows:
Payable by instalments
77,360
107,459
SMITHSON WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 6 -
9
Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2025 and 31 October 2024:

2025 2024

£ £

Mr. G Smithson

Balance outstanding at start of year 27,856 25,386

Amounts advanced 38,767 3 9,550

Amounts repaid (38,727) (37,080)

Amounts written off - -

Amounts waived - -

Balance outstanding at end of year 27,896 27,856

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