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REGISTERED NUMBER: 04039863 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Active Financial Planners Limited

Active Financial Planners Limited (Registered number: 04039863)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


Active Financial Planners Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr K Pemberton
Mr G Pemberton
Mr P R Gibson
Mr K Nendick



SECRETARIES: Mr P R Gibson
Mrs R Pemberton



REGISTERED OFFICE: Active House 1 Dukes Court
Teesside Industrial Estate
Stockton-On-Tees
TS17 9LR



REGISTERED NUMBER: 04039863 (England and Wales)



ACCOUNTANTS: Milner Smeaton
Chartered Accountants and Chartered Tax Advisers
Viking House
Falcon Court
Preston Farm
Stockton-on-Tees
TS18 3TS



BANKERS: Handelsbanken
Eggleston Court
1 Riverside Park Road
Middlesbrough
TS2 1RU



SOLICITORS: Endeavour Partnership
Teesdale Business Park
St Mark's Court
Stockton-On-Tees
Cleveland
TS17 6QP

Active Financial Planners Limited (Registered number: 04039863)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

REVIEW OF BUSINESS
The 2023/ 2024 financial year proved to be a challenge, with a strong headwind of rising trading costs and under pressure investment markets.

Strategic changes to our pricing model were needed and implemented during the period, our first in over 10 years. These changes were not taken lightly, however, aligning with the FCA's Consumer Duty rules that came into effect in July 2023, we continued to deliver a valued and robust service at a competitive price. Greater strategic focus was also taken with regards to discretionary spend, to ensure margins were protected and maintained.

Two senior employees were rewarded with and EMI share scheme and were appointed to the board as Associate Directors in April 2023. We also secured the services of an additional, experienced Chartered Financial Planner late in the reporting period, as per our long-term growth objectives.

FUTURE DEVELOPMENTS
We remain committed to improving our operational processes and efficiencies, to further enhance the levels of service delivered to our clients.

Continued investment in our technology and people are therefore key to deliver our growth objectives for the period.

We also remain committed to growing our market share, with client acquisition sought through strategic partner relationships, professional activity channels, and the recruitment of key skilled advisers. We would also consider acquiring further businesses and client banks should they become available and align within our target model.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr K Pemberton
Mr G Pemberton
Mr P R Gibson
Mr K Nendick

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr K Pemberton - Director


20 August 2024

Active Financial Planners Limited (Registered number: 04039863)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 195,427 341,997
Tangible assets 5 253,903 178,695
449,330 520,692

CURRENT ASSETS
Debtors 6 131,230 170,913
Cash at bank 405,203 440,833
536,433 611,746
CREDITORS
Amounts falling due within one year 7 393,022 520,556
NET CURRENT ASSETS 143,411 91,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,741

611,882

CREDITORS
Amounts falling due after more than one year 8 (177,436 ) (195,427 )

PROVISIONS FOR LIABILITIES (52,742 ) (47,239 )
NET ASSETS 362,563 369,216

CAPITAL AND RESERVES
Allotted, called up and fully paid share capital 137 137
Share option reserve 1,600 -
Retained earnings 360,826 369,079
SHAREHOLDERS' FUNDS 362,563 369,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:




Mr K Pemberton - Director


Active Financial Planners Limited (Registered number: 04039863)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Active Financial Planners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net commissions earned on inception of policies. Credit is taken for fees in the period to which the fee relates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and in accordance with the property

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Active Financial Planners Limited (Registered number: 04039863)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 593,799
AMORTISATION
At 1 April 2023 251,802
Charge for year 146,570
At 31 March 2024 398,372
NET BOOK VALUE
At 31 March 2024 195,427
At 31 March 2023 341,997

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 439,067
Additions 205,252
Disposals (202,130 )
At 31 March 2024 442,189
DEPRECIATION
At 1 April 2023 260,372
Charge for year 40,044
Eliminated on disposal (112,130 )
At 31 March 2024 188,286
NET BOOK VALUE
At 31 March 2024 253,903
At 31 March 2023 178,695

Active Financial Planners Limited (Registered number: 04039863)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 287,220
Additions 205,252
Disposals (202,130 )
Transfer to ownership (85,090 )
At 31 March 2024 205,252
DEPRECIATION
At 1 April 2023 151,613
Charge for year 23,660
Eliminated on disposal (112,130 )
Transfer to ownership (50,582 )
At 31 March 2024 12,561
NET BOOK VALUE
At 31 March 2024 192,691
At 31 March 2023 135,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 131,230 170,913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 19,845 145,018
Trade creditors 1,196 5,873
Taxation and social security 177,781 170,514
Other creditors 194,200 199,151
393,022 520,556

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 128,579 -
Other creditors 48,857 195,427
177,436 195,427

Active Financial Planners Limited (Registered number: 04039863)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 148,424 145,018

Hire purchase contracts are secured against the assets to which they relate.

10. OTHER FINANCIAL COMMITMENTS

The company had non cancellable operating lease commitments at 31 March 2024 of £225,000 (2023: £11,250)

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company advanced £393,906 to its directors. At 31 March 2024 the company was owed Nil in relation to these advances.