Rapport Financial Planning Ltd 07244290 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of financial services Digita Accounts Production Advanced 6.30.9574.0 true 07244290 2023-06-01 2024-05-31 07244290 2024-05-31 07244290 bus:OrdinaryShareClass1 2024-05-31 07244290 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 07244290 core:FurnitureFittingsToolsEquipment 2024-05-31 07244290 bus:SmallEntities 2023-06-01 2024-05-31 07244290 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07244290 bus:FilletedAccounts 2023-06-01 2024-05-31 07244290 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07244290 bus:RegisteredOffice 2023-06-01 2024-05-31 07244290 bus:Director2 2023-06-01 2024-05-31 07244290 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 07244290 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07244290 core:FurnitureFittings 2023-06-01 2024-05-31 07244290 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 07244290 core:KeyManagementPersonnel 2023-06-01 2024-05-31 07244290 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-01 2024-05-31 07244290 countries:UnitedKingdom 2023-06-01 2024-05-31 07244290 2023-05-31 07244290 core:FurnitureFittingsToolsEquipment 2023-05-31 07244290 2022-06-01 2023-05-31 07244290 2023-05-31 07244290 bus:OrdinaryShareClass1 2023-05-31 07244290 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 07244290 core:FurnitureFittingsToolsEquipment 2023-05-31 07244290 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07244290

Rapport Financial Planning Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2024

 

Rapport Financial Planning Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Rapport Financial Planning Ltd

Company Information

Director

Mr SJ Turner

Registered office

Smart Zone
Tredomen Innovation & Technology Centre
Tredomen Park
Ystrad Mynach
Hengoed
CF82 7FQ

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Rapport Financial Planning Ltd

(Registration number: 07244290)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,200

3,832

Current assets

 

Cash at bank and in hand

 

81,332

79,729

Prepayments and accrued income

 

6,084

1,974

Creditors: Amounts falling due within one year

(16,797)

(13,897)

Net current assets

 

70,619

67,806

Total assets less current liabilities

 

74,819

71,638

Accruals and deferred income

 

(1,146)

(950)

Net assets

 

73,673

70,688

Capital and reserves

 

Called up share capital

5

200

200

Retained earnings

73,473

70,488

Shareholders' funds

 

73,673

70,688

 

Rapport Financial Planning Ltd

(Registration number: 07244290)
Abridged Balance Sheet as at 31 May 2024

For the financial year ending 31 May 2024 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 his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 17 July 2024
 

.........................................

Mr SJ Turner
Director

 

Rapport Financial Planning Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Smart Zone
Tredomen Innovation & Technology Centre
Tredomen Park
Ystrad Mynach
Hengoed
CF82 7FQ

These financial statements were authorised for issue by the director on 17 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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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 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.

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.

 

Rapport Financial Planning Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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

Furniture, fittings and equipment

25% straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Rapport Financial Planning Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

16,454

16,454

Additions

1,992

1,992

Disposals

(10,704)

(10,704)

At 31 May 2024

7,742

7,742

Depreciation

At 1 June 2023

12,622

12,622

Charge for the year

1,624

1,624

Eliminated on disposal

(10,704)

(10,704)

At 31 May 2024

3,542

3,542

Carrying amount

At 31 May 2024

4,200

4,200

At 31 May 2023

3,832

3,832

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

       
 

Rapport Financial Planning Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

6

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £260.00 (2023 - £220.00) per each Ordinary

52,000

44,000

 

 

7

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

During the year the director provided the company with an unsecured, interest free, repayable on demand loan. At the balance sheet date the amount due to the director was £312 (2023 - £1,160).