Company Registration No. 13214496 (England and Wales)
Sheena Parker Wealth Management Limited
Unaudited accounts
for the year ended 31 March 2023
Sheena Parker Wealth Management Limited
Unaudited accounts
Contents
Sheena Parker Wealth Management Limited
Company Information
for the year ended 31 March 2023
Company Number
13214496 (England and Wales)
Registered Office
17 Kippington Road
Sevenoaks
Kent
TN13 2LJ
England
Accountants
Anumerate Limited
Office 2.05, Clockwise
Old Town Hall
30 Tweedy Road
Bromley
BR13FE
Sheena Parker Wealth Management Limited
Statement of financial position
as at 31 March 2023
Intangible assets
203,748
228,697
Tangible assets
13,056
12,121
Cash at bank and in hand
80,715
37,902
Creditors: amounts falling due within one year
(95,844)
(138,474)
Net current liabilities
(3,684)
(86,795)
Total assets less current liabilities
213,120
154,023
Creditors: amounts falling due after more than one year
(120,031)
(93,428)
Called up share capital
100
100
Profit and loss account
92,989
60,495
Shareholders' funds
93,089
60,595
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 director acknowledges her 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 and authorised for issue on 28 December 2023 and were signed on its behalf by
Sheena Parker
Director
Company Registration No. 13214496
Sheena Parker Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
Sheena Parker Wealth Management Limited is a private company, limited by shares, registered in England and Wales, registration number 13214496. The registered office is 17 Kippington Road, Sevenoaks, Kent, TN13 2LJ, England.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
20% straightline basis
Computer equipment
20% straightline basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover comprises the fair value of the consideration received or receivable for the 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 and after eliminating sales within the company.
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.
Sheena Parker Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
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 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.
Classification:
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as
appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Recognition and measurement:
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.
Impairment:
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.
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.
Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial.
In such cases debtors are stated at transaction price less impairment losses. 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 transaction.
Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are
stated at transaction price.
Sheena Parker Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
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Intangible fixed assets
Other
Charge for the year
24,949
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
12,349
820
13,169
Additions
2,234
1,794
4,028
At 31 March 2023
14,583
2,614
17,197
At 1 April 2022
858
190
1,048
Charge for the year
2,735
358
3,093
At 31 March 2023
3,593
548
4,141
At 31 March 2023
10,990
2,066
13,056
At 31 March 2022
11,491
630
12,121
Amounts falling due within one year
Trade debtors
11,445
13,777
Sheena Parker Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
14,475
16,258
Other creditors
52,924
25,482
Loans from directors
27,568
96,333
During the year, the Company obtained external finance to acquire assets. Long-term loans are repayable over 5 years at a variable interest rate of 3.6%. Capital repayments falling due within 12 months amount to £52,923.
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Creditors: amounts falling due after more than one year
2023
2022
Other creditors
120,031
93,428
During the year, the Company obtained external finance to acquire assets. Long-term loans are repayable over 5 years at a variable interest rate of 3.6%. Capital repayments falling due after 12 months amount to £120,031.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
During the year the Director provided cash to the company to fund continuing operations and as part of the funding for the acquisition of assets. Amounts owed to the Director are set out in the notes above. The loan from the Director is unsecured, interest-free and has no fixed terms of repayment.
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Average number of employees
During the year the average number of employees was 0 (2022: 0).