Company registration number 06864306 (England and Wales)
BREWSTER FINANCIAL PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BREWSTER FINANCIAL PLANNING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BREWSTER FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 06864306)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
41,087
68,158
Tangible assets
4
83,399
11,744
124,486
79,902
Current assets
Debtors
5
56,761
47,252
Cash at bank and in hand
2,226,066
2,155,723
2,282,827
2,202,975
Creditors: amounts falling due within one year
6
(125,644)
(125,064)
Net current assets
2,157,183
2,077,911
Net assets
2,281,669
2,157,813
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,281,569
2,157,713
Total equity
2,281,669
2,157,813
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 October 2024 and are signed on its behalf by:
Mr R Brewster
Director
BREWSTER FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Brewster Financial Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet 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.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably
The costs incurred and the costs to complete the contract can be measured reliably
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 7 years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
BREWSTER FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
25% on reducing balance
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
189,500
Amortisation and impairment
At 1 April 2023
121,342
Amortisation charged for the year
27,071
At 31 March 2024
148,413
Carrying amount
At 31 March 2024
41,087
At 31 March 2023
68,158
BREWSTER FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
31,477
14,018
45,495
Additions
2,587
87,950
90,537
At 31 March 2024
31,477
16,605
87,950
136,032
Depreciation and impairment
At 1 April 2023
24,007
9,744
33,751
Depreciation charged in the year
1,867
2,357
14,658
18,882
At 31 March 2024
25,874
12,101
14,658
52,633
Carrying amount
At 31 March 2024
5,603
4,504
73,292
83,399
At 31 March 2023
7,470
4,274
11,744
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
55,479
47,252
Other debtors
1,282
56,761
47,252
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
81,355
95,280
Other creditors
44,289
29,784
125,644
125,064