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Registration number: 11300801

Cotwall Financial Planning Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Cotwall Financial Planning Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cotwall Financial Planning Limited

Company Information

Director

Mr A Nicklin

Registered office

71 Sandyfields Road
Sedgley
Dudley
West Midlands
DY3 3LA

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Cotwall Financial Planning Limited

(Registration number: 11300801)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,600

5,750

Tangible assets

5

5,544

7,128

 

10,144

12,878

Current assets

 

Debtors

6

176

143

Cash at bank and in hand

 

72,008

86,219

 

72,184

86,362

Creditors: Amounts falling due within one year

7

(38,917)

(58,959)

Net current assets

 

33,267

27,403

Net assets

 

43,411

40,281

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

43,311

40,181

Shareholders' funds

 

43,411

40,281

For the financial year ending 30 April 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 his 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 January 2025
 


Mr A Nicklin
Director

 

Cotwall Financial Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
71 Sandyfields Road
Sedgley
Dudley
West Midlands
DY3 3LA

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 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.

 

Cotwall Financial Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Fixtures and Fittings

33% straight line

Leasehold improvements

10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

Cotwall Financial Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

11,500

11,500

At 30 April 2024

11,500

11,500

Amortisation

At 1 May 2023

5,750

5,750

Amortisation charge

1,150

1,150

At 30 April 2024

6,900

6,900

Carrying amount

At 30 April 2024

4,600

4,600

At 30 April 2023

5,750

5,750

 

Cotwall Financial Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

11,339

2,517

13,856

At 30 April 2024

11,339

2,517

13,856

Depreciation

At 1 May 2023

5,245

1,483

6,728

Charge for the year

1,134

450

1,584

At 30 April 2024

6,379

1,933

8,312

Carrying amount

At 30 April 2024

4,960

584

5,544

At 30 April 2023

6,094

1,034

7,128

Included within the net book value of land and buildings above is £4,961 (2023 - £6,094) in respect of short leasehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Prepayments

176

143

 

176

143

 

Cotwall Financial Planning Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

12,151

15,628

Other creditors

26,766

43,331

38,917

58,959

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

81

81

81

81

Ordinary B of £1 each

19

19

19

19

100

100

100

100

9

Related party transactions

At 30 April 2024 the company owed a balance of £26,766 (2023 - £43,331) to the director, which is included in Other creditors. This balance is unsecured, interest free and has no fixed terms of repayment.

The company is controlled by the director.