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Registered number: 10828416
Life Matters Financial Planning Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10828416
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 447,480 447,480
Tangible Assets 5 10,350 12,863
457,830 460,343
CURRENT ASSETS
Debtors 6 39,240 42,933
Cash at bank and in hand 42,443 41,139
81,683 84,072
Creditors: Amounts Falling Due Within One Year 7 (46,003 ) (29,766 )
NET CURRENT ASSETS (LIABILITIES) 35,680 54,306
TOTAL ASSETS LESS CURRENT LIABILITIES 493,510 514,649
Creditors: Amounts Falling Due After More Than One Year 8 (20,000 ) (20,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,587 ) (3,216 )
NET ASSETS 470,923 491,433
CAPITAL AND RESERVES
Called up share capital 6,251 6,251
Share premium account 439,207 439,207
Profit and Loss Account 25,465 45,975
SHAREHOLDERS' FUNDS 470,923 491,433
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Emily Turgoose
Director
1 February 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Life Matters Financial Planning Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10828416 . The registered office is Unit 3, Vista Place, Coy Pond Business Park, Ingworth Road, Poole, Dorset, BH12 1JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

These financial statements are presented in pound sterling which is the functional currency of the company.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill relates to the amount paid in connection with the acquisition of a business in 2018. An annual impairment review is undertaken in respect of the carrying value of goodwill and provision made as appropriate. Goodwill is capable of continued measurement and amortisation will be provided accordingly, rather than on a straight line basis.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 5 years straight line
Computer Equipment 2 years straight line
2.5. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 447,480
As at 31 December 2023 447,480
Net Book Value
As at 31 December 2023 447,480
As at 1 January 2023 447,480
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 20,811 8,815 29,626
Additions 758 - 758
As at 31 December 2023 21,569 8,815 30,384
Depreciation
As at 1 January 2023 8,106 8,657 16,763
Provided during the period 3,231 40 3,271
As at 31 December 2023 11,337 8,697 20,034
Net Book Value
As at 31 December 2023 10,232 118 10,350
As at 1 January 2023 12,705 158 12,863
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 35,640 39,333
Other debtors 3,600 3,600
39,240 42,933
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security 34,900 26,429
Other creditors 1,579 1,447
Accruals and deferred income 9,524 1,890
46,003 29,766
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 20,000 20,000
20,000 20,000
Included in creditors amounts falling due after more than one year is £20,000 (2022 - £20,000) which is a sub-ordinated director's loan account as required by the FCA. The loan is interest free.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 12,000 12,000
Later than one year and not later than five years 20,000 32,000
32,000 44,000
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