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Registered number: 11766904
Sheree Jarrold Financial Planning Services Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11766904
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 2,400
Tangible Assets 5 1,108 1,036
1,108 3,436
CURRENT ASSETS
Debtors 6 36,143 37,260
Cash at bank and in hand - 12,982
36,143 50,242
Creditors: Amounts Falling Due Within One Year 7 (29,402 ) (25,771 )
NET CURRENT ASSETS (LIABILITIES) 6,741 24,471
TOTAL ASSETS LESS CURRENT LIABILITIES 7,849 27,907
Creditors: Amounts Falling Due After More Than One Year 8 (7,667 ) (13,417 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (277 ) (197 )
NET (LIABILITIES)/ASSETS (95 ) 14,293
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (195 ) 14,193
SHAREHOLDERS' FUNDS (95) 14,293
Page 1
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For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sheree Jarrold
Director
31 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sheree Jarrold Financial Planning Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11766904 . The registered office is 3 Manor Farm Barns, Cranwich Road, Cranwich, Thetford, Norfolk, IP26 5JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 33% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 12,000
As at 31 March 2024 12,000
Amortisation
As at 1 April 2023 9,600
Provided during the period 2,400
As at 31 March 2024 12,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 2,400
5. Tangible Assets
Office Equipment
£
Cost
As at 1 April 2023 2,473
Additions 556
As at 31 March 2024 3,029
Depreciation
As at 1 April 2023 1,437
Provided during the period 484
As at 31 March 2024 1,921
Net Book Value
As at 31 March 2024 1,108
As at 1 April 2023 1,036
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,949 8,578
Prepayments and accrued income 427 -
Other debtors 28,767 28,682
36,143 37,260
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 48 624
Bank loans and overdrafts 5,962 5,750
Corporation tax 22,425 18,304
Accrued expenses 967 1,093
29,402 25,771
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,667 13,417
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mrs Sheree Jarrold 21,743 481 (395 ) - 21,829
The above loan is unsecured, and repayable on demand. 
Interest of £480 (2023: £426) was charged at the official rate.
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