Company registration number 08772699 (England and Wales)
THE FUNERAL TRUSTEE COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
THE FUNERAL TRUSTEE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE FUNERAL TRUSTEE COMPANY LIMITED
BALANCE SHEET
AS AT
4 APRIL 2023
04 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
87
87
Tangible assets
4
273
481
360
568
Current assets
Debtors
5
1,293
59,703
Cash at bank and in hand
126,628
8,330
127,921
68,033
Creditors: amounts falling due within one year
6
(217,006)
(127,704)
Net current liabilities
(89,085)
(59,671)
Net liabilities
(88,725)
(59,103)
Reserves
Income and expenditure account
(88,725)
(59,103)
Members' funds
(88,725)
(59,103)

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 November 2023 and are signed on its behalf by:
Mr RD Morton
Director
Company Registration No. 08772699
THE FUNERAL TRUSTEE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023
- 2 -
1
Accounting policies
Company information

The Funeral Trustee Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 43, 63 High Bridge, Newcastle upon Tyne, Tyne and Wear, NE1 6BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Intangible fixed assets other than goodwill

Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability or usefulness can be forseen with reasonable certainty and is amortised over a maximum of 5 years once the development is complete.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

THE FUNERAL TRUSTEE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 4 APRIL 2023
1
Accounting policies
(Continued)
- 3 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
THE FUNERAL TRUSTEE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 4 APRIL 2023
- 4 -
3
Intangible fixed assets
Other
£
Cost
At 5 April 2022 and 4 April 2023
62,331
Amortisation and impairment
At 5 April 2022 and 4 April 2023
62,244
Carrying amount
At 4 April 2023
87
At 4 April 2022
87
4
Tangible fixed assets
Computers
£
Cost
At 5 April 2022 and 4 April 2023
5,291
Depreciation and impairment
At 5 April 2022
4,810
Depreciation charged in the year
208
At 4 April 2023
5,018
Carrying amount
At 4 April 2023
273
At 4 April 2022
481
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
140
58,550
Prepayments
1,153
1,153
1,293
59,703
THE FUNERAL TRUSTEE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 4 APRIL 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,309
8,711
Amounts owed to group undertakings
199,474
109,320
Corporation tax
2
2
Other creditors
7,916
6,364
Accruals and deferred income
3,305
3,307
217,006
127,704
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Michael T Moran BA FCA
Statutory Auditor:
Robson Laidler Accountants Limited
9
Financial commitments, guarantees and contingent liabilities

The total amount of financial commitments, guarantees and contingencies not included in the balance sheet as at 4 April 2023 is £660 (2022: £660).

10
Related party transactions

Included within creditors due within one year is an amount of £73,358 (2022: £109,320) owed to the Go As You Please Funeral Plan Trust, and £126,116 (2022: £nil) owed to Independent Funeral Planning Service Trust.

 

Included within consultancy fees are £nil (2022: £18,600) of fees in relation to director trustee services invoiced to the company.

2023-04-042022-04-05false09 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMr R D MortonMr R PerdikMr M C StalkerMr I Fulthorpe087726992022-04-052023-04-04087726992023-04-04087726992022-04-0408772699core:IntangibleAssetsOtherThanGoodwill2023-04-0408772699core:IntangibleAssetsOtherThanGoodwill2022-04-0408772699core:ComputerEquipment2023-04-0408772699core:ComputerEquipment2022-04-0408772699core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-0408772699core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-0408772699core:CurrentFinancialInstruments2023-04-0408772699core:CurrentFinancialInstruments2022-04-0408772699core:RetainedEarningsAccumulatedLosses2023-04-0408772699core:RetainedEarningsAccumulatedLosses2022-04-0408772699bus:Director12022-04-052023-04-0408772699core:IntangibleAssetsOtherThanGoodwill2022-04-052023-04-04087726992021-04-052022-04-0408772699core:IntangibleAssetsOtherThanGoodwill2022-04-0408772699core:ComputerEquipment2022-04-0408772699core:ComputerEquipment2022-04-052023-04-0408772699bus:CompanyLimitedByGuarantee2022-04-052023-04-0408772699bus:SmallCompaniesRegimeForAccounts2022-04-052023-04-0408772699bus:FRS1022022-04-052023-04-0408772699bus:Audited2022-04-052023-04-0408772699bus:Director22022-04-052023-04-0408772699bus:Director32022-04-052023-04-0408772699bus:Director42022-04-052023-04-0408772699bus:FullAccounts2022-04-052023-04-04xbrli:purexbrli:sharesiso4217:GBP