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Registration number: 11658197

Emma Peck Wealth Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Emma Peck Wealth Management Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Emma Peck Wealth Management Ltd

(Registration number: 11658197)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

3,559

-

Current assets

 

Debtors

5

3,091

3,105

Cash at bank and in hand

 

28,561

131

 

31,652

3,236

Creditors: Amounts falling due within one year

6

(22,600)

(14,214)

Net current assets/(liabilities)

 

9,052

(10,978)

Net assets/(liabilities)

 

12,611

(10,978)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

12,511

(11,078)

Shareholders' funds/(deficit)

 

12,611

(10,978)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 September 2022
 

.........................................
Mrs E L Peck
Director

 

Emma Peck Wealth Management Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
128 Avonmead
Swindon
Wiltshire
SN25 3PS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of financial advisory services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Emma Peck Wealth Management Ltd

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

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

Emma Peck Wealth Management Ltd

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

3,902

3,902

At 31 December 2021

3,902

3,902

Depreciation

Charge for the year

343

343

At 31 December 2021

343

343

Carrying amount

At 31 December 2021

3,559

3,559

5

Debtors

Current

2021
£

2020
£

Other debtors

3,091

3,105

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

20,019

13,914

Other creditors

2,581

300

22,600

14,214

7

Related party transactions

Other transactions with the director

The director E L Peck had a loan account with the company during the year. At the balance sheet date the amount due to/(from) the director was £781 (2020: (£14)).