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REGISTERED NUMBER: 07242081 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

James Miller Financial Planning Limited

James Miller Financial Planning Limited (Registered number: 07242081)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


James Miller Financial Planning Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: J S Miller





SECRETARY: J Miller





REGISTERED OFFICE: The Gallery Barn Riverside
Perranarworthal
TRURO
TR3 7NY





REGISTERED NUMBER: 07242081 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

James Miller Financial Planning Limited (Registered number: 07242081)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 271,369 278,936
Investments 5 101,741 101,741
373,110 380,677

CURRENT ASSETS
Debtors 6 322,147 298,160
Cash at bank 233,215 391,385
555,362 689,545
CREDITORS
Amounts falling due within one year 7 128,007 74,575
NET CURRENT ASSETS 427,355 614,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,465

995,647

CREDITORS
Amounts falling due after more than
one year

8

(166,787

)

(189,075

)

PROVISIONS FOR LIABILITIES (813 ) -
NET ASSETS 632,865 806,572

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 632,755 806,462
632,865 806,572

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

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

The director acknowledges his 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.

James Miller Financial Planning Limited (Registered number: 07242081)

Balance Sheet - continued
31 May 2024


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

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

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





J S Miller - Director


James Miller Financial Planning Limited (Registered number: 07242081)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

James Miller 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable they the company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


James Miller Financial Planning Limited (Registered number: 07242081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 307,707 30,746 338,453
Additions - 5,017 5,017
Disposals - (3,047 ) (3,047 )
At 31 May 2024 307,707 32,716 340,423
DEPRECIATION
At 1 June 2023 33,654 25,863 59,517
Charge for year 5,955 3,582 9,537
At 31 May 2024 39,609 29,445 69,054
NET BOOK VALUE
At 31 May 2024 268,098 3,271 271,369
At 31 May 2023 274,053 4,883 278,936

James Miller Financial Planning Limited (Registered number: 07242081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 77,641 24,100 101,741
NET BOOK VALUE
At 31 May 2024 77,641 24,100 101,741
At 31 May 2023 77,641 24,100 101,741

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 322,147 298,160

Within other debtors is an amount of £240,857 (2023: £292,893) owed by J S Miller who is a director and shareholder in the company.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,103 12,198
Taxation and social security 112,187 56,697
Other creditors 5,717 5,680
128,007 74,575

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 166,787 189,075

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 166,787 189,075

James Miller Financial Planning Limited (Registered number: 07242081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 176,890 201,273

The bank loan is secured against the company's freehold property.

10. FINANCIAL INSTRUMENTS

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

11. DIRECTOR'S ADVANCES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
J S Miller
Balance outstanding at start of year 292,893 -
Amounts advanced 2,964 292,893
Amounts repaid (55,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 240,857 292,893