REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
for |
ELDON FINANCIAL PLANNING LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
for |
ELDON FINANCIAL PLANNING LIMITED |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ELDON FINANCIAL PLANNING LIMITED |
Company Information |
for the Year Ended 31 October 2024 |
Directors: |
Registered office: |
Registered number: |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Abridged Balance Sheet |
31 October 2024 |
31/10/24 | 31/10/23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Abridged Balance Sheet - continued |
31 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Eldon Financial Planning Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the going concern basis of accounting. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
The directors consider the difference between the historic cost and residual value of the freehold property to be negligible and that any depreciation thereon would be immaterial to the financial statements. In addition the company has a policy of regular expenditure to ensure the property is maintained to a good condition, with these costs being charged directly to the profit and loss account. Accordingly, the directors feel that it is appropriate for no depreciation charge to be provided on the freehold property. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Employee ownership trust |
Eldon Financial Planning Employee Ownership Trust has been established with the object of ensuring that shares in the company are held by the trustee for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business, a share in its future profits and a voice in the direction of its affairs. Payments made by the company to the trust are treated as capital contributions. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2023 |
Additions |
Disposals | ( |
) |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
5. | CONTINGENT LIABILITIES |
The company has provided a guarantee in respect of the purchase of share capital in Eldon Financial Planning Limited by EFPL EOT Limited as trustees of Eldon Financial Planning Employee Ownership Trust. |
Distributions made by the company are treated as gift payments to the trust so that the trust can meet its obligations and are made at the discretion of the company directors based on available cashflows and the performance of the business. |
ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023: |
31/10/24 | 31/10/23 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
These balances are interest free and have fixed repayment terms in place. |