Joslin Rhodes Lifestyle Financial Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06446109 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Joslin Rhodes Lifestyle Financial

Planning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Parker

SECRETARY:

N Parker

REGISTERED OFFICE:

The Planning Rooms

Wellington Court

Preston Farm Business Park

STOCKTON ON TEES

TS18 3TA

REGISTERED NUMBER:

06446109 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

91

298

Tangible assets

5

89,553

95,125

89,644

95,423

CURRENT ASSETS

Debtors

6

801,721

1,137,097

Cash at bank

295,566

464,142

1,097,287

1,601,239

CREDITORS

Amounts falling due within one year

7

451,732

567,752

NET CURRENT ASSETS

645,555

1,033,487

TOTAL ASSETS LESS CURRENT LIABILITIES

735,199

1,128,910

CREDITORS

Amounts falling due after more than one year

8

(330,000

)

(495,834

)

PROVISIONS FOR LIABILITIES

11

(14,601

)

(10,194

)

NET ASSETS

390,598

622,882

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

390,498

622,782

SHAREHOLDERS' FUNDS

390,598

622,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 September 2022 and were signed by:

N Parker - Director

1.	STATUTORY INFORMATION

Joslin Rhodes Lifestyle Financial Planning 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised as the services are provided to clients.

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.

Patents and licences 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.

Short leasehold

-

15% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Computer equipment

-

33% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Amounts recoverable on contract

Amounts recoverable on contract are included in debtors and represents turnover recognised which is not yet invoiced.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2020 - 52 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2021

and 31 December 2021

1,036

AMORTISATION

At 1 January 2021

738

Amortisation for year

207

At 31 December 2021

945

NET BOOK VALUE

At 31 December 2021

91

At 31 December 2020

298

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2021

77,406

60,739

40,991

179,136

Additions

11,385

1,703

5,126

18,214

At 31 December 2021

88,791

62,442

46,117

197,350

DEPRECIATION

At 1 January 2021

28,828

37,667

17,516

84,011

Charge for year

7,820

7,787

8,179

23,786

At 31 December 2021

36,648

45,454

25,695

107,797

NET BOOK VALUE

At 31 December 2021

52,143

16,988

20,422

89,553

At 31 December 2020

48,578

23,072

23,475

95,125

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

4,989

136,003

Amounts due from related co'

600,415

399,912

Amounts recoverable on contract

46,364

515,018

Other debtors

29,887

10,001

Prepayments and accrued income

120,066

76,163

801,721

1,137,097

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 9)

173,142

170,000

Trade creditors

182,112

108,146

Taxation and social security

35,930

186,783

Other creditors

53,607

93,665

Accruals and deferred income

6,941

9,158

451,732

567,752

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 9)

330,000

495,834

9.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

173,142

170,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

170,000

220,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

160,000

275,834

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

57,163

147,358

Between one and five years

120,000

177,103

In more than five years

200,000

200,000

377,163

524,461

11.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

14,601

10,194

Deferred

tax

£

Balance at 1 January 2021

10,194

Accelerated capital allowances

4,407

Balance at 31 December 2021

14,601

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

N Parker

Balance outstanding at start of year

-

124,625

Amounts advanced

-

1,300

Amounts repaid

-

(125,925

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-