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Associates Financial Planning 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I.T. Associates Financial Planning LTD

Registered Number
05593706
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

I.T. Associates Financial Planning LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

Ian Clive Tandy

Registered Address

49 East Quay House
Marrowbone Slip
Plymouth
PL4 0HX

Registered Number

05593706 (England and Wales)
I.T. Associates Financial Planning LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38101,179
8101,179
Current assets
Debtors474,15372,576
Cash at bank and on hand25,92324,108
100,07696,684
Creditors amounts falling due within one year5(26,682)(39,248)
Net current assets (liabilities)73,39457,436
Total assets less current liabilities74,20458,615
Creditors amounts falling due after one year6(4,000)(12,000)
Provisions for liabilities7(154)(224)
Net assets70,05046,391
Capital and reserves
Called up share capital202202
Profit and loss account69,84846,189
Shareholders' funds70,05046,391
The financial statements were approved and authorised for issue by the Director on 16 January 2025, and are signed on its behalf by:
Ian Clive Tandy
Director
Registered Company No. 05593706
I.T. Associates Financial Planning LTD
Notes to the Financial Statements
for the year ended 30 November 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of services is recognised when the significant risks and rewards of ownership of the services have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 December 2310,6593,43810,88824,985
At 30 November 2410,6593,43810,88824,985
Depreciation and impairment
At 01 December 2310,5362,99610,27423,806
Charge for year31111227369
At 30 November 2410,5673,10710,50124,175
Net book value
At 30 November 2492331387810
At 30 November 231234426141,179
4.Debtors: amounts due within one year

2024

2023

££
Other debtors74,15372,576
Total74,15372,576
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts8,0008,000
Taxation and social security6,25416,987
Other creditors12,42813,781
Accrued liabilities and deferred income-480
Total26,68239,248
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,00012,000
Total4,00012,000
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)154224
Total154224
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Ian Clive Tandy52,3991,605054,004
Directors loan
52,3991,605054,004