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REGISTERED NUMBER: 11401785 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Sk Wealth Management Limited

Sk Wealth Management Limited (Registered number: 11401785)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


Sk Wealth Management Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Ms S K Kang





REGISTERED OFFICE: 5 Morton Crescent
London
N14 7AH





REGISTERED NUMBER: 11401785 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Sk Wealth Management Limited (Registered number: 11401785)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,772 1,787

CURRENT ASSETS
Debtors 5 16,697 7,237
Cash at bank 67,742 66,715
84,439 73,952
CREDITORS
Amounts falling due within one year 6 16,556 23,904
NET CURRENT ASSETS 67,883 50,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,655

51,835

CREDITORS
Amounts falling due after more than one
year

7

(4,697

)

(8,674

)

PROVISIONS FOR LIABILITIES (337 ) (364 )
NET ASSETS 64,621 42,797

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 64,521 42,697
SHAREHOLDERS' FUNDS 64,621 42,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Sk Wealth Management Limited (Registered number: 11401785)

Statement of Financial Position - continued
30 June 2024


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 director and authorised for issue on 24 February 2025 and were signed by:





Ms S K Kang - Director


Sk Wealth Management Limited (Registered number: 11401785)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Sk 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.

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 - 33% on cost, 20% on reducing balance and at varying rates on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

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 3 (2023 - 3 ) .

Sk Wealth Management Limited (Registered number: 11401785)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 8,064
Additions 875
At 30 June 2024 8,939
DEPRECIATION
At 1 July 2023 6,277
Charge for year 890
At 30 June 2024 7,167
NET BOOK VALUE
At 30 June 2024 1,772
At 30 June 2023 1,787

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 16,697 7,237

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 4,259 4,259
Taxation and social security 11,797 19,145
Other creditors 500 500
16,556 23,904

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 4,697 8,674

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary 1 100 100

Sk Wealth Management Limited (Registered number: 11401785)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Ms S K Kang
Balance outstanding at start of year 7,236 9,080
Amounts advanced 14,262 7,236
Amounts repaid (7,800 ) (9,080 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,698 7,236

Interest on the above loan is charged at an annual rate of 2.50%.