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Registration number: 11603238

R G Financial Planning Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

R G Financial Planning Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

R G Financial Planning Ltd

Company Information

Director

Rebecca Guy

Registered office

Suite 1C Meadway Court
Meadway Technology Park
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

Accountants

Re:Accounts Limited
Chartered Accountants
Suite 1C Meadway Court
Meadway Technology Park
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

R G Financial Planning Ltd

(Registration number: 11603238)
Balance Sheet as at 31 October 2023

Note

31 October
2023
£

31 October
2022
£

Fixed assets

 

Intangible assets

4

2,566

3,516

Current assets

 

Cash at bank and in hand

 

52,722

36,038

Creditors: Amounts falling due within one year

6

(42,425)

(36,740)

Net current assets/(liabilities)

 

10,297

(702)

Net assets

 

12,863

2,814

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

12,853

2,804

Shareholders' funds

 

12,863

2,814

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 July 2024
 

.........................................
Rebecca Guy
Director

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 1C Meadway Court
Meadway Technology Park
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF
England

These financial statements were authorised for issue by the director on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

12.5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

6,841

6,841

At 31 October 2023

6,841

6,841

Amortisation

At 1 November 2022

3,325

3,325

Amortisation charge

950

950

At 31 October 2023

4,275

4,275

Carrying amount

At 31 October 2023

2,566

2,566

At 31 October 2022

3,516

3,516

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

2,050

2,050

At 31 October 2023

2,050

2,050

Depreciation

At 1 November 2022

2,050

2,050

At 31 October 2023

2,050

2,050

Carrying amount

At 31 October 2023

-

-

6

Creditors

Creditors: amounts falling due within one year

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

6

Creditors (continued)

31 October
2023
£

31 October
2022
£

Due within one year

Taxation and social security

10,738

7,938

Accruals and deferred income

2,500

2,500

Other creditors

29,187

26,302

42,425

36,740

7

Share capital

Allotted, called up and fully paid shares

31 October
2023

31 October
2022

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

8

Dividends

Final dividends paid

31 October
2023
£

31 October
2022
£

Final dividend of 350.00 (2022 - 250.00) per each Ordinary

3,500

2,500

 

 

Interim dividends paid

31 October
2023
£

31 October
2022
£

Interim dividend of £3,000.00 (2022 - £2,750.00) per each Ordinary

30,000

27,500

 

 

9

Related party transactions

At the year end, the company owed the director £29,187 (2022: £26,302). The loans were interest free with no fixed date for repayment. The director confirms that she will not remove the loans until the company has sufficient cash reserves to continue without them.

 

R G Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,096

8,991