Company Registration No. 07318152 (England and Wales)
Varsity Independent Financial Planning Ltd
Unaudited accounts
for the year ended 30 December 2023
Varsity Independent Financial Planning Ltd
Unaudited accounts
Contents
Varsity Independent Financial Planning Ltd
Company Information
for the year ended 30 December 2023
Company Number
07318152 (England and Wales)
Registered Office
Watergate House
Watergate Street
Chester
CH1 2LF
Accountants
Townley & Co Limited
Warrington Business Centre
67 Bewsey Street
Warrington
WA2 7JQ
Varsity Independent Financial Planning Ltd
Statement of financial position
as at 30 December 2023
Tangible assets
7,036
3,924
Cash at bank and in hand
92,882
83,918
Creditors: amounts falling due within one year
(167,537)
(69,345)
Net current assets
26,276
111,504
Total assets less current liabilities
33,312
115,428
Creditors: amounts falling due after more than one year
(30,689)
(50,852)
Called up share capital
100
100
Profit and loss account
2,523
64,476
Shareholders' funds
2,623
64,576
For the year ending 30 December 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 his 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 3 September 2024 and were signed on its behalf by
N Connolly
Director
Company Registration No. 07318152
Varsity Independent Financial Planning Ltd
Notes to the Accounts
for the year ended 30 December 2023
Varsity Independent Financial Planning Ltd is a private company, limited by shares, registered in England and Wales, registration number 07318152. The registered office is Watergate House, Watergate Street, Chester, CH1 2LF.
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.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Plant & machinery
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Varsity Independent Financial Planning Ltd
Notes to the Accounts
for the year ended 30 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2022
30,000
At 30 December 2023
30,000
At 31 December 2022
30,000
At 30 December 2023
30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 31 December 2022
16,895
3,135
2,190
22,220
Additions
-
4,756
789
5,545
At 30 December 2023
16,895
7,891
2,979
27,765
At 31 December 2022
15,322
784
2,190
18,296
Charge for the year
393
1,777
263
2,433
At 30 December 2023
15,715
2,561
2,453
20,729
At 30 December 2023
1,180
5,330
526
7,036
At 30 December 2022
1,573
2,351
-
3,924
Amounts falling due after more than one year
Amounts due from group undertakings etc.
11,931
11,931
Other debtors
89,000
85,000
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,340
6,340
Taxes and social security
86,118
62,011
Other creditors
75,000
862
Loans from directors
19
72
Varsity Independent Financial Planning Ltd
Notes to the Accounts
for the year ended 30 December 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).