Better With Money Ltd

This Directors' report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption and therefore does not include a Strategic report. Activity The principal activity of Better With Money Ltd (“the Company”) continues to be that of provision of guidance and training resources to support financial wellbeing. The Company is a subsidiary of NatWest Group plc which provides the Company with direction and access to all central resources it needs and determines policies in all key areas such as finance, risk, human resources and control environment. For this reason, the directors believe that performance indicators specific to the Company are not necessary or appropriate for an understanding of the development, performance or position of the business. The annual reports of NatWest Group plc review these matters on a group basis. A copy of the NatWest Group annual report is available at www.natwestgroup.com and on the Companies House website. A copy can also be requested from Legal, Governance and Regulatory Affairs, NatWest Group, Gogarburn, Edinburgh, PO Box 1000, EH12 1HQ. “NatWest Group” comprises NatWest Group plc, its subsidiaries and associated undertakings. On 1 June 2023, NatWest Group acquired c.85% of the shares in Cushon Group. “Cushon Group” comprises NW A Holdings Limited and its subsidiaries. Review of the year Business review The directors are satisfied with the Company’s performance in the year. The Company will be guided by its shareholders for future development. Financial performance The Company prepares its financial statements in the functional currency, pounds sterling (‘£’ or ‘sterling’). The Company’s financial performance is presented on pages 9-10. Turnover for the period was £179,522 (31 March 2023: £329,792) and expenses for the period were £72,188 (31 March 2023: £42,681). The profit before tax for the period was £76,989 (31 March 2023: £253,094), the profit for the period was £76,475. No dividend was paid during the period (31 March 2023: £nil). At the end of the period, the balance sheet showed net assets of £364,433 (31 March 2023: £287,958). Principal risks and uncertainties The Company’s risk management framework has been subject to development and enhancement to comply with the wider NatWest Group risk framework and standards as part of the integration of Cushon Group with NatWest Group. Management focuses on both the overall balance sheet structure and the control, within prudent limits, of risk arising from mismatches, including credit risk. The Company’s assets mainly comprise intangibles and cash at bank which would expose it to credit risk except where the counterparties are group companies and credit risk is not considered significant.