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Company Registration No. 11412273 (England and Wales)
SPINNINGFIELDS WEALTH PARTNERS LIMITED Unaudited accounts for the year ended 31 March 2023
SPINNINGFIELDS WEALTH PARTNERS LIMITED Unaudited accounts Contents
Page
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SPINNINGFIELDS WEALTH PARTNERS LIMITED Company Information for the year ended 31 March 2023
Directors
James Paul Butler Michelle Headen
Company Number
11412273 (England and Wales)
Registered Office
127 RAPHAEL DRIVE SHOEBURYNESS SOUTHEND-ON-SEA SS3 9UR ENGLAND
Accountants
SilverstoneBKS Limited 127 Raphael Drive Shoeburyness Southend on Sea Essex SS3 9UR
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SPINNINGFIELDS WEALTH PARTNERS LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,376 
5,721 
Investments
- 
1,328,673 
3,376 
1,334,394 
Current assets
Debtors
- 
18,685 
Cash at bank and in hand
10,959 
28,924 
10,959 
47,609 
Creditors: amounts falling due within one year
(174,967)
(1,106,323)
Net current liabilities
(164,008)
(1,058,714)
Total assets less current liabilities
(160,632)
275,680 
Creditors: amounts falling due after more than one year
(26,402)
(32,095)
Provisions for liabilities
Deferred tax
- 
(82,943)
Net (liabilities)/assets
(187,034)
160,642 
Capital and reserves
Called up share capital
100 
100 
Share premium
- 
69,985 
Revaluation reserve
(160,247)
188,720 
Profit and loss account
(26,887)
(98,163)
Shareholders' funds
(187,034)
160,642 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by
James Paul Butler Director Company Registration No. 11412273
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SPINNINGFIELDS WEALTH PARTNERS LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
SPINNINGFIELDS WEALTH PARTNERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11412273. The registered office is 127 RAPHAEL DRIVE, SHOEBURYNESS, SOUTHEND-ON-SEA, SS3 9UR, ENGLAND. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Investments
Investments in shares are included at fair value.
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SPINNINGFIELDS WEALTH PARTNERS LIMITED Notes to the Accounts for the year ended 31 March 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
1,784 
9,696 
11,480 
Additions
- 
2,070 
2,070 
At 31 March 2023
1,784 
11,766 
13,550 
Depreciation
At 1 April 2022
- 
5,759 
5,759 
Charge for the year
446 
2,631 
3,077 
On disposals
1,338 
- 
1,338 
At 31 March 2023
1,784 
8,390 
10,174 
Net book value
At 31 March 2023
- 
3,376 
3,376 
At 31 March 2022
1,784 
3,937 
5,721 
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
1,328,673 
Disposals
(1,328,673)
Valuation at 31 March 2023
- 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
4,394 
Other debtors
- 
14,291 
- 
18,685 
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SPINNINGFIELDS WEALTH PARTNERS LIMITED Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,988 
10,000 
Trade creditors
- 
4,736 
Taxes and social security
161,609 
146,338 
Other creditors
6,214 
935,856 
Accruals
1,156 
9,393 
174,967 
1,106,323 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
26,402 
32,095 
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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