In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cardan Wealth Management LLP for the year ended 31 March 2026 which comprise, the statement of financial position and the related notes from the limited liability partnership’s 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 www.accaglobal.com/rulebook.html.
This report is made solely to the limited liability partnership's members of Cardan Wealth Management LLP, as a body, in accordance with the terms of our engagement letter dated .......................... Our work has been undertaken solely to prepare for your approval the financial statements of Cardan Wealth Management LLP and state those matters that we have agreed to state to the limited liability partnership's members of Cardan Wealth Management LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-audit-exempt-companies-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cardan Wealth Management LLP and its members as a body for our work or for this report.
It is your duty to ensure that Cardan Wealth Management LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cardan Wealth Management LLP. You consider that Cardan Wealth Management LLP 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 financial statements of Cardan Wealth Management LLP. 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 financial statements.
Cardan Wealth Management LLP is a limited liability partnership incorporated in England and Wales. The registered office is 22, The Tything, Worcester, Worcestershire, United Kingdom, WR1 1HD.
The limited liability partnership's principal activities are disclosed in the Members' Report.
The LLP was incorporated on 6 May 2025 and this is the first set of financial statements to be prepared for the LLP. The accounting reference date has been changed to coincide with the fiscal year.
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024, together 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 limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is revenue arising from the sale of services. It is stated at fair value of consideration receivable, net of value added tax. Revenue is recognised when the LLP has performed its obligations and, in exchange, obtained the right consideration.
Under the Members' agreement, to which the LLP is a party, all profits are treated as being allocated in the financial year and are therefore, disclosed as members' remuneration charged as an expense.
The LLP has no right to refuse payment to the members for their capital and therefore it has been treated as a financial liability. Where members' capital accounts are overdrawn, they are presented as an asset and disclosed as amounts due from members.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The average number of persons (excluding members) employed by the partnership during the year was:
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.