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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
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Sheena Parker Wealth Management Limited Company Information for the year ended 31 March 2023
Director
Sheena Parker
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
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Sheena Parker Wealth Management Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
203,748 
228,697 
Tangible assets
13,056 
12,121 
216,804 
240,818 
Current assets
Debtors
11,445 
13,777 
Cash at bank and in hand
80,715 
37,902 
92,160 
51,679 
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)
Net assets
93,089 
60,595 
Capital and reserves
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
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Sheena Parker Wealth Management Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
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.
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
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.
Revenue recognition
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.
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Sheena Parker Wealth Management Limited Notes to the Accounts for the year ended 31 March 2023
Corporation 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 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.
Financial instruments
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
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 creditors
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.
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Sheena Parker Wealth Management Limited Notes to the Accounts for the year ended 31 March 2023
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.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
249,487 
At 31 March 2023
249,487 
Amortisation
At 1 April 2022
20,790 
Charge for the year
24,949 
At 31 March 2023
45,739 
Net book value
At 31 March 2023
203,748 
At 31 March 2022
228,697 
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 
Depreciation
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 
Net book value
At 31 March 2023
10,990 
2,066 
13,056 
At 31 March 2022
11,491 
630 
12,121 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
11,445 
13,777 
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Sheena Parker Wealth Management Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
313 
53 
Taxes and social security
14,475 
16,258 
Other creditors
52,924 
25,482 
Loans from directors
27,568 
96,333 
Accruals
564 
348 
95,844 
138,474 
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.
8
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.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
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.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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