Serenity Financial Planning Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05800712 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Serenity Financial Planning Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms C Weeks

Mr C Thompson

SECRETARY:

Ms 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

21,703

48,406

Tangible assets

5

3,648

2,093

Investments

6

250,390

42,423

275,741

92,922

CURRENT ASSETS

Debtors

7

105,646

83,577

Cash at bank

33,669

62,840

139,315

146,417

CREDITORS

Amounts falling due within one year

8

400,722

217,448

NET CURRENT LIABILITIES

(261,407

)

(71,031

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,334

21,891

PROVISIONS FOR LIABILITIES

693

398

NET ASSETS

13,641

21,493

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

13,441

21,293

13,641

21,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 August 2023 and were signed on its behalf by:

Ms 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 Basis

Computer Equipment 33% & 50% Straight Line Basis

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 11 (2022 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

133,515

AMORTISATION

At 1 April 2022

85,109

Charge for year

26,703

At 31 March 2023

111,812

NET BOOK VALUE

At 31 March 2023

21,703

At 31 March 2022

48,406

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

25,186

Additions

3,366

At 31 March 2023

28,552

DEPRECIATION

At 1 April 2022

23,093

Charge for year

1,811

At 31 March 2023

24,904

NET BOOK VALUE

At 31 March 2023

3,648

At 31 March 2022

2,093

6.	FIXED ASSET INVESTMENTS

As at the year end 31.03.23 the market value of listed investments was £250,390.85

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

64,663

83,561

Amounts owed by group undertakings

40,000

-

Other debtors

983

16

105,646

83,577

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

81,019

85,214

Other creditors

319,703

132,234

400,722

217,448

9.	RELATED PARTY TRANSACTIONS

The company operates from premises owned by the director. Rent payable for the year amounted to £4,500. (2022 £4,500)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms C Weeks.