Company No:
Contents
| DIRECTORS | Mario Georgiou |
| Aditya Sarin | |
| Bhupinder Singh |
| REGISTERED OFFICE | 5-10 Bolton Street |
| London | |
| W1J 8BA | |
| United Kingdom |
| COMPANY NUMBER | 14019047 (England and Wales) |
| AUDITOR | BKL Audit LLP |
| Chartered Accountants & Statutory Auditor | |
| Statutory Auditor | |
| 35 Ballards Lane | |
| London | |
| N3 1XW | |
| United Kingdom |
The directors present their Strategic Report for the financial year ended 31 March 2026.
REVIEW OF THE BUSINESS
The principal activity of InCred Global Wealth Limited is the provision of wealth and investment management services to private clients and family offices. The Company is authorised and regulated by the Financial Conduct Authority (FCA).
The Company is focused on building a leading wealth management platform by growing its Assets Under Management (AUM) through the acquisition of new clients and the deepening of existing relationships. This growth is being pursued while maintaining exceptional service standards and delivering innovative, differentiated investment solutions.
RESULTS AND PERFORMANCE
In the financial year ending March 2026, InCred Global Wealth Limited achieved revenue of £2,025,080, reflecting strong momentum in client acquisition. This growth has been driven by increasing client confidence in the Company’s independent and high-quality service offering, and by the successful introduction of discretionary management services. As a result, clients are entrusting a larger proportion of their assets to the Company.
The business remains well-capitalised and has invested in strengthening its team during the year, creating a solid foundation for sustained growth in assets under management (AUM) in the coming periods.
The reported profit before tax of £342,979 (2025: Loss £126,297) represents a significant improvement, demonstrating the Company's continued movement towards profitability as it scales its operations. The Company’s net asset position remains robust at £1,400,263 as at 31 March 2026 (2025: £1,057,284), with the increase largely attributable to increasing AuM from existing clients and attracting new clients through referrals.
The directors remain actively involved in the business, employing regular financial monitoring and performance indicators to maintain financial discipline and ensure continued compliance with FCA capital adequacy requirements. Key operational metrics, such as AUM growth and client numbers, continue to trend positively. Notably, turnover increased by 47% year-on-year, while expenditure rose by just 11%, reflecting the scalable nature of the business model. Working capital and accounts receivable turnover remained stable throughout the year.
PRINCIPAL RISKS AND UNCERTAINTIES
The Company faces various risks and uncertainties, stemming from both external and internal sources. External risks are inherent in the business environment we operate in, while internal risks arise from the systems and processes we use.
The majority of the Company's income is derived from investment management and dealing fees paid by clients receiving our investment management services. A risk to the company's business strategy is a potential loss of certain key investors and the associated assets under management. External risks include political, regulatory, legal, and economic factors. Additionally, changes in legislation and interpretations of existing tax laws could impact the Company. Although these changes are unpredictable, the Company collaborates closely with its external advisors to ensure compliance with applicable legislation.
Internal risks may result from process failures, human error, or non-compliance with regulations, potentially causing financial loss or hindering the Company's ability to operate as a regulated financial services firm. The Board is confident that the Company's regulated business has sufficient resources for compliance monitoring and can take corrective actions as needed. Adequate internal controls are in place to mitigate such operational risks.
The Company maintains professional indemnity coverage for specific client-related risks, with the level of cover reviewed regularly.
S172 COMPLIANCE
The Directors are aware of their duty under s.172 of the Companies Act 2006 to act in the way they would consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole. In doing so, the Directors consider a range of matters when making decisions for the long term. The success of the Company is dependent on the support of all stakeholders. Working with stakeholders that share our values is important to us, towards shared long-term goals for sustainable success. The Company promotes transparency and open dialogue with all stakeholders through regular face to face meetings and other forms of communication.
**Employees**
The Directors are committed to promote engaged relationship with the employees and recognise the importance of employee's wellbeing. The Company holds regular internal meetings, provides private separate allowance for private healthcare and other protection policies. They also offer employees a flexible working option.
**Shareholders**
The Company has three shareholders, majority held between InCred Overseas Holdings Private Limited and B Singh & Partners PTE Ltd, who is represented by B Singh on the board, and A Sarin who also acts as the CEO of the Company and chairs the Board. Regular Board meetings take place where formal matters are discussed in detail, and decisions around strategy, performance, internal investments, finance and compliance are documented.
**Clients**
We have built a strong and close relationship with our clients and the team works hard to maintain it. The interaction with our clients is trusting, professional and considerate of the circumstances of the customer. Transparency is valued by both the clients and the Company.
**Suppliers**
The directors seek to ensure our suppliers align with our values and the high standards of conduct that we set ourselves. The directors commit to honouring agreements with suppliers, including paying to agreed terms. The directors’ value the loyalty and commitment of our strategic suppliers.
**Regulators**
The Company is authorised and regulated by the Financial Conduct Authority (FCA) and the Directors are committed to ensuring full compliance with our regulations and reporting requirements.
Approved by the Board of Directors and signed on its behalf by:
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A Sarin
Director |
The directors present their annual report on the affairs of the Company, together with the financial statements and auditors’ report, for the financial year ended 31 March 2026.
PRINCIPAL ACTIVITIES
REVIEW OF THE BUSINESS
Turnover for the financial year amounted to £2,025,080 (2025: £1,377,475). The Company earned a profit after taxation totalling £342,979 (2025: loss £126,297).
The net current asset position of the Company as at the financial year end amounted to £1,391,467 (2025: net current asset £1,044,015).
The net asset position of the Company as at the financial year end amounted to £1,400,263 (2025: net asset £1,057,284).
DIVIDENDS
No dividend was paid for the current financial year (2025: £Nil).
EVENTS AFTER THE END OF THE REPORTING PERIOD
There have been no significant events affecting the Company since the year end.
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Engagement with suppliers, customers and others have been disclosed in the Strategic Report.
MIFIDPRU 8 Disclosure
The FCA requires disclosure of specified information about underlying risk, management control and capital position of regulated firms ("MIFIDPRU 8 Disclosure"). These disclosures are available online along with the remuneration disclosure at: www.incredwealth.uk.
AUDITOR
Each of the persons who is a director at the date of approval of this report confirms that:
* So far as the director is aware, there is no relevant audit information of which the Company's auditor is 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's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
BKL Audit LLP have expressed their willingness to continue in office as auditor and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.
Approved by the Board of Directors and signed on its behalf by:
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A Sarin
Director |
The directors are responsible for preparing the annual report and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 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 of the profit or loss of the Company for that financial period.
In preparing these financial statements, the directors are required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements 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; and
* 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 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 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.
We have audited the financial statements of InCred Global Wealth Limited for the financial year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows, the accounting policies, and the related notes 1 to 16, including 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 of InCred Global Wealth Limited (the ‘company’):
* Give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the financial year then ended;
* Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"; and
* Have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)). Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report.
We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 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.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s 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.
Opinions 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
* The Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and 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, or returns adequate for our audit have not been received from branches not visited by us; or
* The 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, 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 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 company or to cease operations, or have no realistic alternative but to do so.
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 auditor's 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 financial statements.
Extent to which the audit was considered capable of detecting irregularities, including fraud
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:
• Enquiring of management around actual and potential litigation and claims;
• Reviewing minutes of meeting of those charged with governance;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Perform audit work over the risks of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
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.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
• Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors’ Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors’ Report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company’s members, 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 members those matters we are required to state to them in an auditor’s 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Chartered Accountants & Statutory Auditor
Statutory Auditor
London
N3 1XW
United Kingdom
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Turnover | 3 |
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| Administrative expenses | (
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| Operating profit/(loss) |
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| Interest receivable and similar income |
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| Interest payable and similar expenses | (
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| Other finance income |
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| Profit/(loss) before taxation | 4 |
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| Tax on profit/(loss) | 8 |
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| Profit/(loss) for the financial year |
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| Other comprehensive income | 0 | 0 | ||
| Total comprehensive income/(loss) |
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| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 9 |
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| 8,796 | 13,269 | |||
| Current assets | ||||
| Debtors | 10 |
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| Cash at bank and in hand |
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| 1,689,648 | 1,307,810 | |||
| Creditors: amounts falling due within one year | 11 | (
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| Net current assets | 1,391,467 | 1,044,015 | ||
| Total assets less current liabilities | 1,400,263 | 1,057,284 | ||
| Net assets | 1,400,263 | 1,057,284 | ||
| Capital and reserves | 12 | |||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholders' funds | 1,400,263 | 1,057,284 |
The financial statements of InCred Global Wealth Limited (registered number:
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A Sarin
Director |
| Called-up share capital | Profit and loss account | Total | |||
| £ | £ | £ | |||
| At 01 April 2024 |
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| Loss for the financial year |
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| Total comprehensive income |
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| At 31 March 2026 |
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| 2026 | 2025 | ||
| £ | £ | ||
| Net cash flows from operating activities (note 14) |
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| Cash flows from investing activities | |||
| Purchase of fixed assets | (1,346) | (9,625) | |
| Net cash flows from investing activities | (
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| Cash flows from financing activities | |||
| Repayment of loans | 0 | (2,340) | |
| Net cash flows from financing activities |
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| Cash and cash equivalents at beginning of year |
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| Cash and cash equivalents at end of year |
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| Reconciliation to cash at bank and in hand: | |||
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| Cash and cash equivalents at end of year |
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The statement of cash flows has been prepared using the indirect method in accordance with Section 7 of FRS 102.
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
InCred Global Wealth Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 5-10 Bolton Street, London, W1J 8BA, United Kingdom.
The principal activities are set out in the Strategic Report.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis.
The Company is authorised and regulated by the Financial Conduct Authority and is subject to regulatory capital requirements. The directors have reviewed the Company’s capital position and are satisfied that it remains compliant with these requirements.
The Company is profitable and maintains strong cash reserves. It has no external borrowings and does not rely on any financing facilities.
Cash flow forecasts have been prepared and reviewed by the directors, covering a period of at least 12 months from the date of approval of these financial statements. Based on these forecasts and the Company’s current financial position, the directors are satisfied that the Company has sufficient resources to continue in operational existence for the foreseeable future.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for:
• exchange differences on transactions entered into to hedge certain foreign currency risks (see above); and
• exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Defined contribution schemes
For defined contribution schemes the amounts charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits are the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are shown as either accruals or prepayments in the Statement of Financial Position.
Other long-term employee benefits are measured at the present value of the benefit obligation at the reporting date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the Statement of Financial Position date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
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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.
The company as lessee
Assets, other than those measured at fair value, are assessed for indicators of impairment at each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
In the 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 Company's cash management.
The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and 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.
The Company’s financial instruments comprise cash at bank, accrued income and other receivables, and trade and other payables arising directly from its operations.
The main risks arising from the Company’s financial instruments are credit risk, liquidity risk and market risk (including foreign exchange risk). The directors review these risks regularly and take appropriate measures to manage exposure.
**Credit risk**
Credit risk arises from the Company’s cash balances and accrued income. The Company mitigates this risk by holding funds with established financial institutions and monitoring receivable balances on an ongoing basis. The carrying amount of financial assets represents the Company’s maximum exposure to credit risk.
**Liquidity risk**
Liquidity risk is the risk that the Company will be unable to meet its financial obligations as they fall due. The Company manages this risk by maintaining strong cash reserves and monitoring forecast cash flows to ensure sufficient funds are available to meet liabilities when due.
**Market risk**
Market risk includes foreign exchange risk arising from transactions denominated in foreign currencies. The Company is exposed to movements in exchange rates which may affect the results for the year. The Company monitors this exposure and does not enter into hedging arrangements.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.
The directors do not consider that any critical judgements have been made in application of the company's accounting policies and no key sources of estimation uncertainty have been identified that have a significant risk of causing material misstatement to the carrying amount of assets and liabilities within the financial year.
Turnover represents the fair value of services provided to customers during the financial year excluding value added tax.
Breakdown by business class
An analysis of the company's turnover by class of business is set out below.
| 2026 | 2025 | ||
| £ | £ | ||
| Wealth and investment management services | 2,025,080 | 1,377,475 |
Turnover is wholly attributable to the principal activity of the Company and arises solely within the United Kingdom.
Profit/(loss) before taxation is stated after charging/(crediting):
| 2026 | 2025 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets (note 9) |
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| Foreign exchange losses |
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| Rent under operating leases |
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An analysis of the auditor's remuneration is as follows:
| 2026 | 2025 | ||
| £ | £ | ||
| Fees payable to the company’s auditor and its associates for the audit of the company's annual financial statements: | 13,000 | 16,500 | |
| Total audit fees |
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| Taxation compliance services |
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| Other taxation advisory services |
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| Other services |
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| Total non-audit fees |
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| 2026 | 2025 | ||
| Number | Number | ||
| The average monthly number of employees (including directors) was: |
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Their aggregate remuneration comprised:
| 2026 | 2025 | ||
| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other retirement benefit costs |
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| 1,341,513 | 1,216,036 |
| 2026 | 2025 | ||
| £ | £ | ||
| Directors' emoluments |
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Remuneration of the highest paid director
| 2026 | 2025 | ||
| £ | £ | ||
| Director's emoluments | 380,000 | 365,500 | |
| Company contributions to money purchase schemes | 10,450 | 10,069 | |
| 390,450 | 375,569 |
| 2026 | 2025 | ||
| £ | £ | ||
| Current tax on profit/(loss) | |||
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| Trading loss utilised | (
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| Total current tax |
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The tax assessed for the year is lower than (2025: the same as) the standard rate of corporation tax in the UK:
| 2026 | 2025 | ||
| £ | £ | ||
| Profit/(loss) before taxation | 342,979 | (126,297) | |
| Tax on profit/(loss) at standard UK corporation tax rate of 25% (2025: -%) |
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| Effects of: | |||
| Expenses not deductible for tax purposes |
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| Unutilised losses brought forwards | (87,803) | 0 | |
| Total tax charge for year | 0 | 0 |
| Office equipment | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 April 2025 |
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| Additions |
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| At 31 March 2026 |
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| Accumulated depreciation | |||||
| At 01 April 2025 |
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| Charge for the financial year |
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| At 31 March 2026 |
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| Net book value | |||||
| At 31 March 2026 | 6,359 | 2,437 | 8,796 | ||
| At 31 March 2025 | 8,683 | 4,586 | 13,269 |
| 2026 | 2025 | ||
| £ | £ | ||
| Trade debtors |
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| VAT recoverable |
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| Other debtors |
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| Prepayments and accrued income |
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| 2026 | 2025 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to parent undertakings (note 15) |
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| Payroll taxes payable |
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| Accruals |
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| Other creditors |
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| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| Presented as follows: | |||
| Called-up share capital presented as equity | 2,661,000 | 2,661,000 |
The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2026 | 2025 | ||
| £ | £ | ||
| Within one year |
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|
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
| 2026 | 2025 | ||
| £ | £ | ||
| Unpaid contributions due to the fund (inc. in other creditors) |
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Operating profit/(loss) |
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(
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| Adjustment for: | |||
| Depreciation and amortisation |
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| Other gains and losses |
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| Operating cash flows before movement in working capital |
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(
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| Increase in debtors | (
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(
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| Increase in creditors |
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| Cash generated by operations |
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(
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| Interest received |
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| Net cash flows from operating activities |
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(
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Transactions with group companies
Amounts owed to Parent undertakings
| 2026 | 2025 | ||
| £ | £ | ||
| B Singh & Partners PTE Ltd |
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Parent Company:
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| 1 North Bridge Road No 30-00 High Street Centre Singapore 179094 |
During the year, 47.5% of the shares in the entity were transferred to InCred Overseas Holdings Private Limited. An additional 47.5% of the shareholding is planned to be transferred to this entity in the future.
| 2026 | 2025 | ||
| £ | £ | ||
| Turnover | |||
| Sales |
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| Administrative expenses | |||
| Wages and salaries | (
|
(
|
|
| Employers NI | (
|
(
|
|
| Pensions | (
|
(
|
|
| Directors' salaries | (
|
(
|
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| Directors' employers NI | (
|
(
|
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| Directors' pensions | (
|
(
|
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| Staff training and welfare | (
|
(
|
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| Travel and subsistence | (
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(
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| Rent | (
|
(
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| Computer expenses | (
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(
|
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| Internet, telephone and fax | (
|
(
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| Printing, postage and stationery | (
|
(
|
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| Bank charges | (
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(
|
|
| Subscriptions | (
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(
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| Insurance | (
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(
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| Depreciation | (
|
(
|
|
| Motor expenses | (
|
(
|
|
| Repairs and maintenance |
|
(
|
|
| Penalties |
|
(
|
|
| Loss on foreign exchange transactions | (
|
(
|
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| Audit fees | (
|
(
|
|
| Accountancy fees | (
|
(
|
|
| Legal and professional fees | (
|
(
|
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| Consultancy | (
|
(
|
|
| Advertising and PR | (
|
(
|
|
| Staff entertainment | (
|
(
|
|
| Client entertainment | (
|
(
|
|
| Sundry expenses | (
|
(
|
|
| (1,721,615) | (1,549,010) | ||
| Operating profit/(loss) |
|
(
|
|
| Interest receivable and similar income | |||
| Bank interest receivable |
|
|
|
| Other interest receivable |
|
|
|
| 38,599 | 45,774 | ||
| Interest payable and similar expenses | |||
| Other loans interest payable | (
|
(
|
|
| Other interest payable | (
|
(
|
|
| (83) | (536) | ||
| Other finance income |
|
|
|
| Profit/(loss) before taxation |
|
(
|