REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
BALANCE SHEET |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
BALANCE SHEET - continued |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Stephenson Johnson Financial Planning Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principle place of business at 15B Priory Tec Park, Hessle, Hull, HU13 9PB. |
The principal activity of the company is Financial Intermediation. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
Turnover |
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts. Turnover is recognised at point of sale. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of clients, has been amortised evenly over its estimated useful life of 4 years. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred taxation |
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. |
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. |
Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Government grants |
Government grants and support received during a year are taken to profit in the year in which they are received. |
Fixed asset investments |
Listed investments are held as fixed asset investments and are included in the accounts at fair value. |
Changes in fair value are recognised in the profit and loss account. |
Unlisted investments are held as fixed asset investments and are included at cost less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Motor | Computer |
leasehold | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2022 | 412,492 |
Additions | 8,481 |
Disposals | ( |
) | (115,941 | ) |
Revaluations | ( |
) | (47,906 | ) |
At 31 March 2023 | 257,126 |
NET BOOK VALUE |
At 31 March 2023 | 257,126 |
At 31 March 2022 | 412,492 |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 March 2023 is represented by: |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
Valuation in 2014 | - | 18,280 | 18,280 |
Valuation in 2015 | - | (2,854 | ) | (2,854 | ) |
Valuation in 2016 | - | 6,460 | 6,460 |
Valuation in 2017 | - | 39,707 | 39,707 |
Valuation in 2018 | - | 44,024 | 44,024 |
Valuation in 2019 | - | 132,979 | 132,979 |
Valuation in 2020 | - | 53,750 | 53,750 |
Valuation in 2021 | - | 136,807 | 136,807 |
Valuation in 2022 | - | (42,340 | ) | (42,340 | ) |
Valuation in 2023 | - | (184,354 | ) | (184,354 | ) |
Cost | 50 | 54,617 | 54,667 |
50 | 257,076 | 257,126 |
The fixed asset investments have been revalued in the accounts to fair value. |
7. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Directors current accounts | - | 75,000 |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by associates |
Tax |
Directors' loan accounts | 147,477 | 147,477 |
Aggregate amounts |
The director current account of £75,000 will be repaid to the company prior to 31st December 2022. |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Tax |
Social security and other taxes |
Directors' current accounts | 2,292 | 1,492 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2022 |
Unrealised gain on share portfolio | ( |
) |
At 31 March 2023 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors is an amount owing to the director by the company. The balance outstanding at 31st March 2023 was £3,492 (2022: £1,492). |
The loan was made on an interest free basis and is repayable on demand. |
13. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £387,000 (2022 - £363,000) were paid to the director . |
STEPHENSON JOHNSON FINANCIAL PLANNING |
LIMITED (REGISTERED NUMBER: 05269611) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2023 |
13. | RELATED PARTY DISCLOSURES - continued |
Directors include related party. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is R W Stephenson. |