Serenity Financial Planning Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05800712 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Serenity Financial Planning Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C Weeks

SECRETARY:

Mrs C Weeks

REGISTERED OFFICE:

76 Capel Road

Barnet

Hertfordshire

EN4 8JF

REGISTERED NUMBER:

05800712 (England and Wales)

ACCOUNTANTS:

Chesterton House Accounting Services LLP

2-3 Rectory Place

Loughborough

Leicestershire

LE11 1UW

FIXED ASSETS

Intangible assets

4

101,812

95,000

Tangible assets

5

2,966

4,215

Investments

6

26,636

28,152

131,414

127,367

CURRENT ASSETS

Debtors

7

43,625

49,186

Cash at bank

58,966

23,150

102,591

72,336

CREDITORS

Amounts falling due within one year

8

108,181

52,880

NET CURRENT (LIABILITIES)/ASSETS

(5,590

)

19,456

TOTAL ASSETS LESS CURRENT LIABILITIES

125,824

146,823

PROVISIONS FOR LIABILITIES

563

801

NET ASSETS

125,261

146,022

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

125,061

145,822

125,261

146,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

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 1 May 2020 and were signed by:

Mrs C Weeks - Director

1.	STATUTORY INFORMATION

Serenity Financial Planning Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any

accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other

than freehold land, at rates calculated to write off the cost, less estimated residual value, of

each asset evenly over its expected useful life, as follows:

Furniture & equipment 25% on reducing balance

Goodwill 20% on straight line basis

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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 9 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

100,000

Additions

33,515

At 31 March 2020

133,515

AMORTISATION

At 1 April 2019

5,000

Charge for year

26,703

At 31 March 2020

31,703

NET BOOK VALUE

At 31 March 2020

101,812

At 31 March 2019

95,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

19,320

Additions

1,500

At 31 March 2020

20,820

DEPRECIATION

At 1 April 2019

15,105

Charge for year

2,749

At 31 March 2020

17,854

NET BOOK VALUE

At 31 March 2020

2,966

At 31 March 2019

4,215

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2019

28,152

Additions

938

Disposals

(2,454

)

At 31 March 2020

26,636

NET BOOK VALUE

At 31 March 2020

26,636

At 31 March 2019

28,152

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

2,415

Other debtors

43,625

46,771

43,625

49,186

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

1,537

-

Taxation and social security

25,465

20,101

Other creditors

81,179

32,779

108,181

52,880

9.	RELATED PARTY TRANSACTIONS

The company operates from premises owned by the director. Rent payable for the year

amounted to £4,500