REGISTERED NUMBER: |
Coral Financial Planning LLP |
Report of the Members and |
Financial Statements for the Period 14 July 2022 to 31 December 2023 |
REGISTERED NUMBER: |
Coral Financial Planning LLP |
Report of the Members and |
Financial Statements for the Period 14 July 2022 to 31 December 2023 |
Coral Financial Planning LLP (Registered number: OC443112) |
Contents of the Financial Statements |
for the Period 14 July 2022 to 31 December 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 7 |
Coral Financial Planning LLP |
General Information |
for the Period 14 July 2022 to 31 December 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Coral Financial Planning LLP (Registered number: OC443112) |
Report of the Members |
for the Period 14 July 2022 to 31 December 2023 |
The members present their report with the financial statements of the LLP for the period 14 July 2022 to 31 December 2023. |
INCORPORATION |
The LLP was incorporated on 14 July 2022 and commenced trading on the same date. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of financial planning services. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The loss for the period before members' remuneration and profit shares was £37,460. |
MEMBERS' INTERESTS |
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. |
MEMBERS' RESPONSIBILITIES STATEMENT |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
ON BEHALF OF THE MEMBERS: |
Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
Coral Financial Planning LLP |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Coral Financial Planning LLP for the period ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Coral Financial Planning LLP, as a body, in accordance with the terms of our engagement letter dated 6 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Coral Financial Planning LLP and state those matters that we have agreed to state to the members of Coral Financial Planning LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coral Financial Planning LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Coral Financial Planning LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Coral Financial Planning LLP. You consider that Coral Financial Planning LLP is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Coral Financial Planning LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Coral Financial Planning LLP (Registered number: OC443112) |
Income Statement |
for the Period 14 July 2022 to 31 December 2023 |
£ |
TURNOVER |
Cost of sales |
GROSS LOSS | ( |
) |
Administrative expenses |
OPERATING LOSS and |
LOSS FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
Coral Financial Planning LLP (Registered number: OC443112) |
Balance Sheet |
31 December 2023 |
Notes | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES ATTRIBUTABLE TO MEMBERS |
- |
LOANS AND OTHER DEBTS DUE TO MEMBERS | - |
TOTAL MEMBERS' INTERESTS |
Amounts due from members | (37,460 | ) |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Coral Financial Planning LLP (Registered number: OC443112) |
Reconciliation of Members' Interests |
for the Period 14 July 2022 to 31 December 2023 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | - |
Amount due from members | - |
Balance at 14 July 2022 | - | - | - |
Loss for the financial period available for discretionary division among members |
(37,460 |
) |
- |
(37,460 |
) |
Members' interests after loss for the period |
(37,460 |
) |
- |
(37,460 |
) |
Other divisions of loss | 37,460 | (37,460 | ) | - |
Amount due to members | - |
Amount due from members | (37,460 | ) |
Balance at 31 December 2023 | - | (37,460 | ) | (37,460 | ) |
Coral Financial Planning LLP (Registered number: OC443112) |
Notes to the Financial Statements - continued |
for the Period 14 July 2022 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Coral Financial Planning LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration for service received or receivable. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL. |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans | 39,000 |