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Registered Number: 08925070
England and Wales

 

 

 

FERNQUEST FINANCIAL PLANNING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Luke Fernquest
Registered Number 08925070
Registered Office BLUE HILLS
LLANDEVAUD
NEWPORT
NP18 2AA
Accountants Child and Child Accountants Ltd
49 Somerset Street
Abertillery
NP13 1DL
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 125,604    104,767 
125,604    104,767 
Current assets      
Debtors 5 251,448    201,760 
Cash at bank and in hand 53,242    69,668 
304,690    271,428 
Creditors: amount falling due within one year 6 (42,753)   (49,147)
Net current assets 261,937    222,281 
 
Total assets less current liabilities 387,541    327,048 
Creditors: amount falling due after more than one year 7 (54,428)   (40,068)
Net assets 333,113    286,980 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 333,110    286,977 
Shareholders' funds 333,113    286,980 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 16 August 2024 and were signed by:


-------------------------------
Luke Fernquest
Director
2
General Information
FERNQUEST FINANCIAL PLANNING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08925070, registration address BLUE HILLS, LLANDEVAUD, NEWPORT, NP18 2AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Staff Costs

2024
£
  2023
£
Wages and salaries 68,197    69,826 
Pension costs, defined contribution plan 23,604    14,480 
Other staff costs 1,200    1,086 
93,001    85,392 
 
Average number of employees during the year Number   Number
Sales 3    3 
 

3.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £
At 01 April 2023 92,818    1,869    10,614    44,949    150,250 
Additions 59,000      1,137      60,137 
Disposals (38,700)         (38,700)
At 31 March 2024 113,118    1,869    11,751    44,949    171,687 
Depreciation
At 01 April 2023 39,575    1,061    4,845      45,481 
Charge for year 21,529    161    1,314      23,004 
On disposals (22,402)         (22,402)
At 31 March 2024 38,702    1,222    6,159      46,083 
Net book values
Closing balance as at 31 March 2024 74,416    647    5,592    44,949    125,604 
Opening balance as at 01 April 2023 53,243    808    5,767    44,949    104,767 

The net book value of Land and Buildings includes £ 44,949 (2023 £44,949) in respect of assets leased under finance leases or hire purchase contracts.

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 236,395    191,760 
Other Debtors 1 15,053    10,000 
251,448    201,760 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans 5,561    5,444 
Corporation Tax 19,761    26,578 
PAYE & Social Security 546    485 
Accruals 4,062    1,947 
Obligations under HP/Financial Leases 12,745    14,647 
Directors' Current Accounts 78    46 
42,753    49,147 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 27,713    33,390 
Obligations Under HP/Financial Leases 26,715    6,678 
54,428    40,068 

3