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REGISTERED NUMBER: 04561871 (England and Wales)














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: K A McCarthy
G L Siddle
A J Kinsley





Registered office: 1 Parsons Court, Welbury Way
Aycliffe Business Park
Newton Aycliffe
County Durham
DL5 6ZE





Registered number: 04561871 (England and Wales)






ELDON FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 04561871)

Abridged Balance Sheet
31 October 2024

31/10/24 31/10/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 305,095 312,076

Current assets
Debtors 190,009 142,940
Cash at bank and in hand 650,133 633,574
840,142 776,514
Creditors
Amounts falling due within one year 295,081 277,222
Net current assets 545,061 499,292
Total assets less current liabilities 850,156 811,368

Creditors
Amounts falling due after more than one
year

(7,491

)

(17,531

)

Provisions for liabilities (6,596 ) (8,342 )
Net assets 836,069 785,495

Capital and reserves
Called up share capital 6,180 6,180
Capital redemption reserve 5,820 5,820
Retained earnings 824,069 773,495
Shareholders' funds 836,069 785,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





K A McCarthy - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 388,506
Additions 1,524
Disposals (402 )
At 31 October 2024 389,628
DEPRECIATION
At 1 November 2023 76,430
Charge for year 8,505
Eliminated on disposal (402 )
At 31 October 2024 84,533
NET BOOK VALUE
At 31 October 2024 305,095
At 31 October 2023 312,076

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
£    £   
G L Siddle
Balance outstanding at start of year 1,200 3,600
Amounts repaid (1,200 ) (2,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,200

K A McCarthy
Balance outstanding at start of year 4,000 6,000
Amounts repaid (2,000 ) (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,000 4,000

These balances are interest free and have fixed repayment terms in place.