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Registered number: 11220163
Penrose Wealth Management Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2025
Elsburys Accountants ACCA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11220163
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 670,847 711,994
Tangible Assets 5 4,186 6,014
675,033 718,008
CURRENT ASSETS
Debtors 6 64,089 39,036
Cash at bank and in hand 12,223 386
76,312 39,422
Creditors: Amounts Falling Due Within One Year 7 (198,058 ) (163,499 )
NET CURRENT ASSETS (LIABILITIES) (121,746 ) (124,077 )
TOTAL ASSETS LESS CURRENT LIABILITIES 553,287 593,931
Creditors: Amounts Falling Due After More Than One Year 8 (454,963 ) (547,191 )
NET ASSETS 98,324 46,740
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 98,224 46,640
SHAREHOLDERS' FUNDS 98,324 46,740
Page 1
Page 2
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss V Kleboe
Director
12/08/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Penrose Wealth Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11220163 . The registered office is St. George's House, Knoll Road, Camberley, Surrey, GU15 3SY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 2 yrs straight line
Computer Equipment 2 yrs straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2025 925,312
Additions 364
As at 31 December 2025 925,676
Amortisation
As at 1 January 2025 213,318
Provided during the period 41,511
As at 31 December 2025 254,829
Net Book Value
As at 31 December 2025 670,847
As at 1 January 2025 711,994
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2025 13,325 35,660 48,985
Additions - 2,887 2,887
As at 31 December 2025 13,325 38,547 51,872
Depreciation
As at 1 January 2025 13,171 29,800 42,971
Provided during the period 154 4,561 4,715
As at 31 December 2025 13,325 34,361 47,686
Net Book Value
As at 31 December 2025 - 4,186 4,186
As at 1 January 2025 154 5,860 6,014
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 50,310 24,027
Other debtors 13,779 15,009
64,089 39,036
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 504 -
Bank loans and overdrafts 92,265 94,314
Other creditors 48,828 28,537
Taxation and social security 56,461 40,648
198,058 163,499
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 454,963 547,191
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5