Suitable Legacy Planning Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10315623 (England and Wales)

SUITABLE LEGACY PLANNING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J M Rose

REGISTERED OFFICE:

15 North Lodge Road

Poole

Dorset

BH14 9BA

REGISTERED NUMBER:

10315623 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Intangible assets

4

224

1,090

Tangible assets

5

5,437

5,038

5,661

6,128

CURRENT ASSETS

Debtors

6

1,732

3,011

Cash at bank

18,686

16,968

20,418

19,979

CREDITORS

Amounts falling due within one year

7

116,575

81,010

NET CURRENT LIABILITIES

(96,157

)

(61,031

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(90,496

)

(54,903

)

CREDITORS

Amounts falling due after more than one year

8

(12,917

)

(14,250

)

PROVISIONS FOR LIABILITIES

(1,033

)

(957

)

NET LIABILITIES

(104,446

)

(70,110

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(104,546

)

(70,210

)

(104,446

)

(70,110

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 30 May 2022 and were signed by:

Mr J M Rose - Director

1.	STATUTORY INFORMATION

Suitable Legacy 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.

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.

Domain names are being amortised evenly over their estimated useful life of five years.

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

-

20% on cost and straight line over 3 years

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

Going concern

The company has the continued financial support of its director, who has agreed not to request repayment of his loan until the company has the funds available. On this basis the director of Suitable Legacy Planning Ltd considers it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2020

and 31 August 2021

4,329

AMORTISATION

At 1 September 2020

3,239

Charge for year

866

At 31 August 2021

4,105

NET BOOK VALUE

At 31 August 2021

224

At 31 August 2020

1,090

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2020

11,686

Additions

4,684

At 31 August 2021

16,370

DEPRECIATION

At 1 September 2020

6,648

Charge for year

4,285

At 31 August 2021

10,933

NET BOOK VALUE

At 31 August 2021

5,437

At 31 August 2020

5,038

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

144

17

Other debtors

1,588

2,994

1,732

3,011

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

1,667

750

Trade creditors

3,163

7,720

Taxation and social security

1,997

4,920

Other creditors

109,748

67,620

116,575

81,010

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

12,917

14,250

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,250

2,250