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REGISTERED NUMBER: 08103656 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

SP Wealth Management Limited

SP Wealth Management Limited (Registered number: 08103656)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SP Wealth Management Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr S Prestcote
Mrs S L A Prestcote





REGISTERED OFFICE: 11 Wrotham Business Park
Barnet
Hertfordshire
EN5 4SZ





REGISTERED NUMBER: 08103656 (England and Wales)





ACCOUNTANTS: Visionary Accountants
2 Adelaide Street
St Albans
Hertfordshire
AL3 5BH

SP Wealth Management Limited (Registered number: 08103656)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
CURRENT ASSETS
Debtors 6 209,873 213,027
Cash at bank and in hand 2,348 19,272
212,221 232,299
CREDITORS
Amounts falling due within one year 7 67,551 73,905
NET CURRENT ASSETS 144,670 158,394
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,670

158,394

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 144,570 158,294
SHAREHOLDERS' FUNDS 144,670 158,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





Mr S Prestcote - Director


SP Wealth Management Limited (Registered number: 08103656)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

SP Wealth Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

SP Wealth Management Limited (Registered number: 08103656)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 625,000
AMORTISATION
At 1 July 2022
and 30 June 2023 625,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 2,829
DEPRECIATION
At 1 July 2022
and 30 June 2023 2,829
NET BOOK VALUE
At 30 June 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 41,680 39,376
Other debtors 168,193 173,651
209,873 213,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 53,115 43,072
Other creditors 14,436 30,833
67,551 73,905

SP Wealth Management Limited (Registered number: 08103656)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £212,938 were paid to the directors .

During the year the directors held loan accounts with the company. At the year end a balance of £163,193 was owed to the company (2022 - £167,558). This loan is unsecured and repayable on demand.Interest was charged on the loan of £3,980 at 2.5% in the year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Prestcote.