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REGISTERED NUMBER: 11305822 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

FOWLER FINANCIAL PLANNING LIMITED

FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOWLER FINANCIAL PLANNING LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Fowler
R Fowler





REGISTERED OFFICE: 3 Southernhay West
Exeter
United Kingdom
Devon
EX1 1JG





REGISTERED NUMBER: 11305822 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 2,066,148 2,169,764
Tangible assets 6 55,120 71,765
2,121,268 2,241,529

CURRENT ASSETS
Debtors 7 79,972 93,371
Cash at bank 152,992 139,022
232,964 232,393
CREDITORS
Amounts falling due within one year 8 (598,299 ) (242,257 )
NET CURRENT LIABILITIES (365,335 ) (9,864 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,755,933

2,231,665

CREDITORS
Amounts falling due after more than one
year

9

(1,357,191

)

(1,750,326

)

PROVISIONS FOR LIABILITIES (10,617 ) (10,665 )
NET ASSETS 388,125 470,674

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 183,873 183,873
Retained earnings 204,152 286,701
388,125 470,674

FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Balance Sheet - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





M Fowler - Director


FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. COMPANY INFORMATION

Fowler Financial Planning 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 (£).


The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. STATEMENT OF COMPLIANCE

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. .
.
CORPORATE RESPONSIBILITY
We deal with HMRC in an open and transparent way, and strive to pay a fair amount of tax based on the profits of the business and the income of the directors and shareholders. We do not enter into tax schemes and have never come under enquiry from HMRC.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts chargeable in respect of the sale of services to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses, is being amortised over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% straight line

Cash and cash equivalents
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 2,395,467
Additions 16,501
At 31 December 2023 2,411,968
AMORTISATION
At 1 January 2023 225,703
Amortisation for year 120,117
At 31 December 2023 345,820
NET BOOK VALUE
At 31 December 2023 2,066,148
At 31 December 2022 2,169,764

FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 50,815 29,405 33,865 114,085
Additions - 543 4,521 5,064
Disposals - (5,623 ) (1,704 ) (7,327 )
At 31 December 2023 50,815 24,325 36,682 111,822
DEPRECIATION
At 1 January 2023 20,314 4,843 17,163 42,320
Charge for year 7,259 3,185 7,455 17,899
Eliminated on disposal - (2,181 ) (1,336 ) (3,517 )
At 31 December 2023 27,573 5,847 23,282 56,702
NET BOOK VALUE
At 31 December 2023 23,242 18,478 13,400 55,120
At 31 December 2022 30,501 24,562 16,702 71,765

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,579 58,983
Other debtors 8,393 34,388
79,972 93,371

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,003 3,623
Taxation and social security 47,374 56,904
Other creditors 549,922 181,730
598,299 242,257

Included in creditors within one year is a deferred consideration sum on purchased goodwill.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 1,357,191 1,750,326

FOWLER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 11305822)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5 years 595,578 764,912

Included in creditors more than one year in the prior year is a deferred consideration sum on purchased goodwill.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 29,714 29,635
Between one and five years 38,845 53,760
68,559 83,395

The directors have provided a personal guarantee for the lease of the property.