LHP Wealth Management Ltd 12719494 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is financial planning services Digita Accounts Production Advanced 6.30.9574.0 Software true true false 12719494 2022-02-01 2023-01-31 12719494 2023-01-31 12719494 bus:OrdinaryShareClass1 2023-01-31 12719494 core:RetainedEarningsAccumulatedLosses 2023-01-31 12719494 core:ShareCapital 2023-01-31 12719494 core:CurrentFinancialInstruments 2023-01-31 12719494 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12719494 core:ParentEntities 2023-01-31 12719494 bus:SmallEntities 2022-02-01 2023-01-31 12719494 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12719494 bus:FullAccounts 2022-02-01 2023-01-31 12719494 bus:RegisteredOffice 2022-02-01 2023-01-31 12719494 bus:Director2 2022-02-01 2023-01-31 12719494 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 12719494 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12719494 core:ParentEntities 2022-02-01 2023-01-31 12719494 1 2022-02-01 2023-01-31 12719494 countries:Wales 2022-02-01 2023-01-31 12719494 2021-02-01 2022-01-31 12719494 2022-01-31 12719494 bus:OrdinaryShareClass1 2022-01-31 12719494 core:RetainedEarningsAccumulatedLosses 2022-01-31 12719494 core:ShareCapital 2022-01-31 12719494 core:CurrentFinancialInstruments 2022-01-31 12719494 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 12719494

LHP Wealth Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

LHP Wealth Management Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

LHP Wealth Management Ltd

Company Information

Director

Mr Laurence Murphy

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

LHP Wealth Management Ltd

(Registration number: 12719494)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

1,500

-

Cash at bank and in hand

 

1,488

100

 

2,988

100

Creditors: Amounts falling due within one year

5

(549)

-

Net assets

 

2,439

100

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,339

-

Total equity

 

2,439

100

For the financial year ending 31 January 2023 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 his 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 25 October 2023
 

.........................................
Mr Laurence Murphy
Director

   
     
 

LHP Wealth Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 25 October 2023.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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.

 

LHP Wealth Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2023

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

2023
£

2022
£

Other debtors

1,500

-

1,500

-

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Corporation tax liability

 

549

-

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Related party transactions

Loans from related parties

 

LHP Wealth Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2023

2023

Parent
£

Advanced

4,000

Repaid

(4,000)

At end of period

-

Terms of loans from related parties

Interest free loan
 

8

Parent and ultimate parent undertaking

The company's immediate parent is LM Financial Planning Ltd, incorporated in Wales.

 The ultimate controlling party is Laurence Murphy.