Registered number
06717196
Fernedene Financial Planning Limited
Filleted Accounts
31 December 2023
Fernedene Financial Planning Limited
Registered number: 06717196
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 319 595
Current assets
Debtors 4 13,160 6,637
Cash at bank and in hand 64,931 66,893
78,091 73,530
Creditors: amounts falling due within one year 5 (10,579) (10,308)
Net current assets 67,512 63,222
Total assets less current liabilities 67,831 63,817
Creditors: amounts falling due after more than one year 6 (13,000) (13,000)
Provisions for liabilities (61) (113)
Net assets 54,770 50,704
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,670 50,604
Shareholders' funds 54,770 50,704
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J A Grubb
Director
Approved by the board on 16 September 2024
Fernedene Financial Planning Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services is recognised by reference to the stage of completion of contracts at the end of the reporting period. Where appropriate revenue is recognised or deferred based on execution of a significant act (achieving a significant trigger point).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 3 years
Debtors
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 recognised 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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment
£
Cost
At 1 January 2023 7,304
At 31 December 2023 7,304
Depreciation
At 1 January 2023 6,709
Charge for the year 276
At 31 December 2023 6,985
Net book value
At 31 December 2023 319
At 31 December 2022 595
4 Debtors 2023 2022
£ £
Other debtors 13,160 6,637
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 9,451 8,430
Other creditors 1,128 1,878
10,579 10,308
6 Creditors: amounts falling due after one year 2023 2022
£ £
Subordinated Loans 13,000 13,000
7 Related party transactions 2023 2022
£ £
J A GRUBB, Director
Subordinated loan to the Company
Amount due from (to) the related party (6,500) (6,500)
J J PASCOE, Director
Subordinated loan to the Company
Amount due from (to) the related party (6,500) (6,500)
8 Other information
Fernedene Financial Planning Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Court House Close
Creaton
Northampton
Northamptonshire
NN6 8NP
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