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Company registration number: 08511307
Elmhurst Financial Planning Ltd
Unaudited filleted financial statements
30 April 2024
Elmhurst Financial Planning Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Elmhurst Financial Planning Ltd
Directors and other information
Directors Richard Swain
Mike Winwood
Company number 08511307
Registered office 14a Riduna Park
Station Road
Melton, Woodbridge
Suffolk
IP12 1QT
Business address 14a Riduna Park
Station Road
Melton, Woodbridge
Suffolk
IP12 1QT
Accountant Simon Emmerson MAAT AATQB
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers Santander
Elmhurst Financial Planning Ltd
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Elmhurst Financial Planning Ltd
Year ended 30 April 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson MAAT AATQB
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
22 August 2024
Elmhurst Financial Planning Ltd
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 1,664,428 1,012,040
Tangible assets 5 3,458 4,611
_______ _______
1,667,886 1,016,651
Current assets
Debtors 6 99 99
Cash at bank and in hand 27,433 38,334
_______ _______
27,532 38,433
Creditors: amounts falling due
within one year 7 ( 142,733) ( 126,111)
_______ _______
Net current liabilities ( 115,201) ( 87,678)
_______ _______
Total assets less current liabilities 1,552,685 928,973
Creditors: amounts falling due
after more than one year 8 ( 1,194,492) ( 721,238)
_______ _______
Net assets 358,193 207,735
_______ _______
Capital and reserves
Called up share capital 103 103
Profit and loss account 358,090 207,632
_______ _______
Shareholders funds 358,193 207,735
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Richard Swain
Director
Company registration number: 08511307
Elmhurst Financial Planning Ltd
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 103 68,488 68,591
Profit for the year 379,514 379,514
_______ _______ _______
Total comprehensive income for the year - 379,514 379,514
Dividends paid and payable ( 240,370) ( 240,370)
_______ _______ _______
Total investments by and distributions to owners - ( 240,370) ( 240,370)
_______ _______ _______
At 30 April 2023 and 1 May 2023 103 207,632 207,735
Profit for the year 356,147 356,147
_______ _______ _______
Total comprehensive income for the year - 356,147 356,147
Dividends paid and payable ( 205,689) ( 205,689)
_______ _______ _______
Total investments by and distributions to owners - ( 205,689) ( 205,689)
_______ _______ _______
At 30 April 2024 103 358,090 358,193
_______ _______ _______
Elmhurst Financial Planning Ltd
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 14a Riduna Park, Station Road, Melton, Woodbridge, Suffolk, IP12 1QT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2023 1,012,040 1,012,040
Additions 652,388 652,388
_______ _______
At 30 April 2024 1,664,428 1,664,428
_______ _______
Amortisation
At 1 May 2023 and 30 April 2024 - -
_______ _______
Carrying amount
At 30 April 2024 1,664,428 1,664,428
_______ _______
At 30 April 2023 1,012,040 1,012,040
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2023 and 30 April 2024 22,528 22,528
_______ _______
Depreciation
At 1 May 2023 17,917 17,917
Charge for the year 1,153 1,153
_______ _______
At 30 April 2024 19,070 19,070
_______ _______
Carrying amount
At 30 April 2024 3,458 3,458
_______ _______
At 30 April 2023 4,611 4,611
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 99 99
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 18,217 28,875
Corporation tax 118,916 92,276
Other creditors 5,600 4,960
_______ _______
142,733 126,111
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts - 83,482
Other creditors 1,194,492 637,756
_______ _______
1,194,492 721,238
_______ _______
9. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2024 2023
£ £
Richard Swain 74 74
Mike Winwood 25 25
_______ _______
99 99
_______ _______