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Registration number: 09951803

Blake Financial Planning Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Blake Financial Planning Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Blake Financial Planning Ltd

Company Information

Director

C Blake

Registered office

Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

Accountants

DeVines Accountants Limited
Chartered Accountants
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Blake Financial Planning Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blake Financial Planning Ltd for the year ended 31 January 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Blake Financial Planning Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blake Financial Planning Ltd and state those matters that we have agreed to state to the Board of Directors of Blake Financial Planning Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blake Financial Planning Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blake Financial Planning Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blake Financial Planning Ltd. You consider that Blake Financial Planning Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Blake Financial Planning Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DeVines Accountants Limited
Chartered Accountants
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

13 October 2024

 

Blake Financial Planning Ltd

(Registration number: 09951803)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,303

7,245

Investments

5

2,000

2,000

 

8,303

9,245

Current assets

 

Debtors

6

11,916

36,742

Cash at bank and in hand

 

14,963

19,889

 

26,879

56,631

Creditors: Amounts falling due within one year

7

(10,523)

(19,582)

Net current assets

 

16,356

37,049

Total assets less current liabilities

 

24,659

46,294

Creditors: Amounts falling due after more than one year

7

(5,461)

(8,534)

Provisions for liabilities

(1,198)

(2,016)

Net assets

 

18,000

35,744

Capital and reserves

 

Called up share capital

102

102

Retained earnings

17,898

35,642

Shareholders' funds

 

18,000

35,744

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2024
 

 

Blake Financial Planning Ltd

(Registration number: 09951803)
Balance Sheet as at 31 January 2024

.........................................
C Blake
Director

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

These financial statements were authorised for issue by the director on 13 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum reducing balance

Fixtures and fittings

25% per annum reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

10,993

-

10,993

Additions

907

252

1,159

At 31 January 2024

11,900

252

12,152

Depreciation

At 1 February 2023

3,748

-

3,748

Charge for the year

2,038

63

2,101

At 31 January 2024

5,786

63

5,849

Net book value

At 31 January 2024

6,114

189

6,303

At 31 January 2023

7,245

-

7,245

5

Investments

2024
£

2023
£

Investments in associates

2,000

2,000

Associates

£

Cost

At 1 February 2023

2,000

Provision

Carrying amount

At 31 January 2024

2,000

At 31 January 2023

2,000

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

11,916

2,029

Other debtors

-

34,713

 

11,916

36,742

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

3,000

3,000

Taxation and social security

 

5,601

14,782

Accruals and deferred income

 

1,920

1,800

Other creditors

 

2

-

 

10,523

19,582

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

4,421

7,494

Other non-current financial liabilities

 

1,040

1,040

 

5,461

8,534

8

Reserves

The only movements on reserves in this period and the preceding period are profits and dividends.

 

Blake Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,421

7,494

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,000

3,000

10

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

34,713

34,713

Repaid

(34,713)

(34,713)

At end of period

-

-

2023

Key management
£

Total
£

Advanced

34,713

34,713

At end of period

34,713

34,713

Terms of loans to related parties

The loan bears interest at 2% per annum.
The loan was repaid on 26 September 2023.