Company registration number 07685406 (England and Wales)
JANE NEWMAN FINANCIAL PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
JANE NEWMAN FINANCIAL PLANNING LIMITED
COMPANY INFORMATION
Director
Mrs E J Manning
Company number
07685406
Registered office
10 St Andrews Road
Droitwich
Worcestershire
WR9 8DN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
Magnolia centre
9 Chapel Street
Exmouth
Devon
EX8 1HR
JANE NEWMAN FINANCIAL PLANNING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
JANE NEWMAN FINANCIAL PLANNING LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JANE NEWMAN FINANCIAL PLANNING LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jane Newman Financial Planning Limited for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Jane Newman Financial Planning Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jane Newman Financial Planning Limited and state those matters that we have agreed to state to the board of directors of Jane Newman Financial Planning Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jane Newman Financial Planning Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Jane Newman Financial Planning Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jane Newman Financial Planning Limited. You consider that Jane Newman Financial Planning Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Jane Newman Financial Planning Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
28 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
JANE NEWMAN FINANCIAL PLANNING LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
28,553
30,209
Current assets
Debtors
5
96,883
40,809
Cash at bank and in hand
100,637
111,960
197,520
152,769
Creditors: amounts falling due within one year
6
(142,574)
(100,896)
Net current assets
54,946
51,873
Total assets less current liabilities
83,499
82,082
Creditors: amounts falling due after more than one year
7
(37,152)
(35,380)
Provisions for liabilities
9
(7,069)
(5,740)
Net assets
39,278
40,962
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
39,178
40,862
Total equity
39,278
40,962
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JANE NEWMAN FINANCIAL PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 28 November 2024
Mrs E J Manning
Director
Company registration number 07685406 (England and Wales)
JANE NEWMAN FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
Jane Newman Financial Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 St Andrews Road, Droitwich, Worcestershire, WR9 8DN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computer equipment
15% on reducing balance
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
JANE NEWMAN FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
5
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
18,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
18,000
Carrying amount
At 30 June 2024
At 30 June 2023
JANE NEWMAN FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
21,924
33,124
55,048
Additions
3,382
3,382
At 30 June 2024
21,924
36,506
58,430
Depreciation and impairment
At 1 July 2023
8,070
16,769
24,839
Depreciation charged in the year
2,080
2,958
5,038
At 30 June 2024
10,150
19,727
29,877
Carrying amount
At 30 June 2024
11,774
16,779
28,553
At 30 June 2023
13,854
16,355
30,209
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
52,042
1,649
Other debtors
44,841
39,160
96,883
40,809
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
27,692
7,626
Trade creditors
3,588
2,883
Taxation and social security
108,538
85,393
Other creditors
2,756
4,994
142,574
100,896
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
37,152
35,380
JANE NEWMAN FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank overdrafts
-
1,008
Bank loans
36,370
41,998
36,370
43,006
Bank loans are secured by way of a government-backed guarantee.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
7,069
5,740
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
45
45
45
45
Ordinary Preferred of £1 each
45
45
45
45
Deferred Ordinary of £1 each
5
5
5
5
Ordinary Deferred of £1 each
5
5
5
5
100
100
100
100
11
Director's transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan account
2.25
9,237
173,416
574
(160,666)
22,561
9,237
173,416
574
(160,666)
22,561
The director's loan account was repaid within nine months of the year end.
-
12
Ultimate controlling party
There is no ultimate controlling party.
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