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Registered Number: 07121119
England and Wales

 

 

 

ONE LIFE WEALTH PLANNING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Palmers Business Support Ltd
31 March 2024



....................................................
Palmers Business Support Ltd
Palmers Barn
Station Road, Long Marston
TRING
HP23 4QS
09 August 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 9,090    8,645 
Investments 4 122,457    102,027 
131,547    110,672 
Current assets      
Cash at bank and in hand 28,655    29,189 
Creditors: amount falling due within one year (53,744)   (46,254)
Net current assets (25,089)   (17,065)
 
Total assets less current liabilities 106,458    93,607 
Provisions for liabilities (9,063)   (3,017)
Net assets 97,395    90,590 
 

Capital and reserves
     
Called up share capital 5 101    101 
Profit and loss account 97,294    90,489 
Shareholders' funds 97,395    90,590 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 August 2024 and were signed by:


-------------------------------
Nicholas John Evans
Director
2
General Information
One Life Wealth Planning Ltd is a private company, limited by shares, registered in England and Wales, registration number 07121119, registration address The Hangar , Mosquito Way, Hatfield, Hertfordshire, AL10 9AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Plant and Machinery 33% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 17,846      17,846 
Additions 2,210    4,977    7,187 
Disposals    
At 31 March 2024 20,056    4,977    25,033 
Depreciation
At 01 April 2023 9,201      9,201 
Charge for year 6,618    124    6,742 
On disposals    
At 31 March 2024 15,819    124    15,943 
Net book values
Closing balance as at 31 March 2024 4,237    4,853    9,090 
Opening balance as at 01 April 2023 8,645      8,645 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 102,027    102,027 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 20,430    20,430 
At 31 March 2024 122,457    122,457 

5.

Share Capital

Authorised
101 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
101 Ordinary shares of £1.00 each 101    101 
101    101 

3