Company registration number 10041473 (England and Wales)
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr T J Burley
Company number
10041473
Registered office
76 Macrae Road
Eden Office Park
Ham Green
Bristol
United Kingdom
BS20 0DD
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
48,518
64,156
Investments
4
347,348
290,942
395,866
355,098
Current assets
Debtors
5
64,626
72,567
Cash at bank and in hand
129,120
86,087
193,746
158,654
Creditors: amounts falling due within one year
6
(73,119)
(74,063)
Net current assets
120,627
84,591
Total assets less current liabilities
516,493
439,689
Creditors: amounts falling due after more than one year
7
(26,612)
(36,461)
Provisions for liabilities
(15,509)
(11,368)
Net assets
474,372
391,860
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
474,272
391,760
Total equity
474,372
391,860
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 and signed by the director and authorised for issue on 24 November 2023
Mr T J Burley
Director
Company Registration No. 10041473
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information
Thomas J. Burley Financial Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 76 Macrae Road, Eden Office Park, Ham Green, Bristol, United Kingdom, BS20 0DD.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
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.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
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
1
1
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
2,575
13,095
67,703
83,373
Additions
537
537
At 31 March 2023
2,575
13,632
67,703
83,910
Depreciation
At 1 April 2022
429
6,073
12,715
19,217
Depreciation charged in the year
537
1,891
13,747
16,175
At 31 March 2023
966
7,964
26,462
35,392
Carrying amount
At 31 March 2023
1,609
5,668
41,241
48,518
At 31 March 2022
2,146
7,022
54,988
64,156
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
347,348
290,942
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
£
Valuation
At 1 April 2022
290,942
Additions
40,000
Valuation changes
20,562
Exchange rate changes
(4,156)
At 31 March 2023
347,348
Carrying amount
At 31 March 2023
347,348
At 31 March 2022
290,942
The historic cost of investments was £327,309.
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
34,438
35,150
Other debtors
30,188
37,417
64,626
72,567
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,849
9,606
Trade creditors
208
198
Taxation and social security
62,353
63,106
Other creditors
709
1,153
73,119
74,063
THOMAS J. BURLEY FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,612
36,461
8
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr T J Burley - Directors' Loan
-
26,968
(20,444)
6,524
26,968
(20,444)
6,524
The loan balance was repaid within 9 months of the year-end.