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Registration number: 07221964

Philippa Gee Wealth Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Philippa Gee Wealth Management Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Philippa Gee Wealth Management Limited

Company Information

Directors

Mrs PC Hall

Mr SA Hall

Company secretary

Mr SA Hall

Registered office

8 High Street
Church Stretton
Shropshire
SY6 6BU

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Philippa Gee Wealth Management Limited

(Registration number: 07221964)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,967

15,557

Current assets

 

Debtors

5

2,255

5,655

Cash at bank and in hand

 

138,708

167,861

 

140,963

173,516

Creditors: Amounts falling due within one year

6

(117,511)

(142,665)

Net current assets

 

23,452

30,851

Net assets

 

35,419

46,408

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

35,319

46,308

Shareholders' funds

 

35,419

46,408

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 


Mrs PC Hall
Director

 

Philippa Gee Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Church Stretton
Shropshire
SY6 6BU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Philippa Gee Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Equipment

33% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
 £

Equipment
 £

Total
£

Cost or valuation

At 1 September 2023

8,707

32,502

41,209

At 31 August 2024

8,707

32,502

41,209

Depreciation

At 1 September 2023

6,029

19,623

25,652

Charge for the year

996

2,594

3,590

At 31 August 2024

7,025

22,217

29,242

Carrying amount

At 31 August 2024

1,682

10,285

11,967

At 31 August 2023

2,678

12,879

15,557

 

Philippa Gee Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

2024
£

2023
£

Prepayments

1,877

5,655

Other debtors

378

-

2,255

5,655

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

139

6,468

Taxation and social security

54,172

45,264

Accruals and deferred income

2,917

1,500

Other creditors

60,283

89,433

117,511

142,665

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

51

51

51

51

Ordinary B of £1 each

49

49

49

49

100

100

100

100

8

Related party transactions

Monies owed to the directors at the year end amounted to £60,283 (2023 - £89,171) and are included in Other Creditors. These amounts are interest free with no fixed repayment term.