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Registered Number: 13183941
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 September 2024

for

TS FINANCIAL PLANNING LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,698,555    1,796,496 
Tangible fixed assets 4 5,547    6,326 
1,704,102    1,802,822 
Current assets      
Debtors 5 115,609    72,412 
Cash at bank and in hand 1,083    44,177 
116,692    116,589 
Creditors: amount falling due within one year 6 (654,596)   (104,808)
Net current assets (537,904)   11,781 
 
Total assets less current liabilities 1,166,198    1,814,603 
Creditors: amount falling due after more than one year 7 (1,143,352)   (1,802,669)
Provisions for liabilities 8 (1,234)   (1,204)
Net assets 21,612    10,730 
 

Capital and reserves
     
Called up share capital 9 200    200 
Profit and loss account 21,412    10,530 
Shareholders' funds 21,612    10,730 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 October 2024 and were signed on its behalf by:


-------------------------------
Kathleen Cockburn
Director
1
General Information
TS Financial Planning Ltd is a private company, limited by shares, registered in England and Wales, registration number 13183941, registration address 16 Thorpe Road, Norwich, NR1 1RY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2023 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 1,958,830    1,958,830 
Additions  
Disposals  
At 30 September 2024 1,958,830    1,958,830 
Amortisation
At 01 October 2023 162,334    162,334 
Charge for year 97,941    97,941 
On disposals  
At 30 September 2024 260,275    260,275 
Net book values
At 30 September 2024 1,698,555    1,698,555 
At 30 September 2023 1,796,496    1,796,496 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 October 2023 3,882    9,768    13,650 
Additions 1,785    1,338    3,123 
Disposals    
At 30 September 2024 5,667    11,106    16,773 
Depreciation
At 01 October 2023 776    5,927    6,703 
Charge for year 854    3,669    4,523 
On disposals    
At 30 September 2024 1,630    9,596    11,226 
Net book values
Closing balance as at 30 September 2024 4,037    1,510    5,547 
Opening balance as at 01 October 2023 2,485    3,841    6,326 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 115,609    72,412 
115,609    72,412 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 37,700   
Bank Loans & Overdrafts 165,000   
Corporation Tax 90,107    63,038 
PAYE & Social Security 18,979    3,598 
Other Creditors 1,016    770 
Directors' Current Accounts 341,794    37,402 
654,596    104,808 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Trade Creditors   29,475 
Bank Loans & Overdrafts 1,143,352    1,473,194 
Directors' Loan Accounts   300,000 
1,143,352    1,802,669 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,204    1,632 
Charged to Profit & Loss 30    (428)
1,234    1,204 

9.

Share Capital

Authorised
200 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
200 Class A shares of £1.00 each 200    200 
200    200 

2