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REGISTERED NUMBER: 06738994 (England and Wales)










Financial Statements for the Year Ended 31 December 2021

for

Spencer Lynn Financial Consultants Ltd

Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spencer Lynn Financial Consultants Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: P Lynn
Mrs T Pring





REGISTERED OFFICE: 18B Cropwell Road
Radcliffe-On-Trent
Nottinghamshire
NG12 2FS





REGISTERED NUMBER: 06738994 (England and Wales)





ACCOUNTANTS: NRB Accountancy Limited
33A High Street
Belper
Derbyshire
DE56 1GF

Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,605 6,139

CURRENT ASSETS
Debtors 5 7,653 16,491
Cash at bank 27,822 29,502
35,475 45,993
CREDITORS
Amounts falling due within one year 6 (1,441 ) (12,596 )
NET CURRENT ASSETS 36,916 58,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,521

64,728

CREDITORS
Amounts falling due after more than one year 7 (42,273 ) (62,000 )

PROVISIONS FOR LIABILITIES (505 ) (1,166 )
NET (LIABILITIES)/ASSETS (1,257 ) 1,562

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings (1,268 ) 1,551
SHAREHOLDERS' FUNDS (1,257 ) 1,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)

Balance Sheet - continued
31 December 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2022 and were signed on its behalf by:





P Lynn - Director


Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Spencer Lynn Financial Consultants Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 15,604
DEPRECIATION
At 1 January 2021 9,465
Charge for year 1,534
At 31 December 2021 10,999
NET BOOK VALUE
At 31 December 2021 4,605
At 31 December 2020 6,139

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 7,653 16,491

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 11,273 -
Trade creditors 3 1
Taxation and social security (13,497 ) (13,497 )
Other creditors 780 900
(1,441 ) (12,596 )

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans 42,273 62,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 62,000

Spencer Lynn Financial Consultants Ltd (Registered number: 06738994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director, Mr P Lynn, introduced funds to and withdrew funds from the company by way of a director's loan account. Interest of £578 has been charged on the loan at the official rate of interest per annum, and the loan is repayable upon demand. The maximum outstanding during the year was £39,939. At the year end the director owed the company £7,652 (2020: £16,491) and this amount is included in debtors.

9. ULTIMATE CONTROLLING PARTY

The controlling party is P Lynn.