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Chequers Financial Planning Limited

Registered Number
13370456
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Chequers Financial Planning Limited
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Mr Daniel Spanton
Mrs Laura Spanton

Registered Address

14 Chequers Meadow
Hainford
Norwich
NR10 3FU

Registered Number

13370456 (England and Wales)
Chequers Financial Planning Limited
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3180,221200,246
Tangible assets481,0854,012
261,306204,258
Current assets
Debtors512,7416,490
Cash at bank and on hand23,04323,437
35,78429,927
Creditors amounts falling due within one year6(24,295)(10,696)
Net current assets (liabilities)11,48919,231
Total assets less current liabilities272,795223,489
Creditors amounts falling due after one year7(226,490)(198,572)
Net assets46,30524,917
Capital and reserves
Called up share capital100(100)
Profit and loss account46,20525,017
Shareholders' funds46,30524,917
The financial statements were approved and authorised for issue by the Board of Directors on 7 November 2024, and are signed on its behalf by:
Mr Daniel Spanton
Director
Registered Company No. 13370456
Chequers Financial Planning Limited
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the supply of services is recognised when the consideration becomes receivable.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account and is charged over the 10 year useful life estimated by the director.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings-10
Vehicles25-
Office Equipment20-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 23200,246200,246
At 31 May 24200,246200,246
Amortisation and impairment
Charge for year20,02520,025
At 31 May 2420,02520,025
Net book value
At 31 May 24180,221180,221
At 31 May 23200,246200,246
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 June 23--6,6116,611
Additions77,5026,4768,28992,267
At 31 May 2477,5026,47614,90098,878
Depreciation and impairment
At 01 June 23--2,5992,599
Charge for year12,9173781,89915,194
At 31 May 2412,9173784,49817,793
Net book value
At 31 May 2464,5856,09810,40281,085
At 31 May 23--4,0124,012
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables10,7455,572
Other debtors988-
Prepayments and accrued income1,008918
Total12,7416,490
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts10,042-
Taxation and social security-6,977
Finance lease and HP contracts5,175-
Other creditors9,0782,611
Accrued liabilities and deferred income-1,108
Total24,29510,696
Finance lease and HP contracts are secured on the assets concerned.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts178,489198,572
Other creditors48,001-
Total226,490198,572
Other creditors comprise HP contracts which are secured on the assets concerned
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts48,001-