Registered number
NI627929
Digney Grant Financial Planning Limited
Filleted Accounts
31 December 2024
Digney Grant Financial Planning Limited
Registered number: NI627929
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 147,892 -
Tangible assets 4 15,851 167,299
163,743 167,299
Current assets
Debtors 5 10,705 9,073
Cash at bank and in hand 147,384 111,747
158,089 120,820
Creditors: amounts falling due within one year 6 (159,894) (81,713)
Net current (liabilities)/assets (1,805) 39,107
Total assets less current liabilities 161,938 206,406
Creditors: amounts falling due after more than one year 7 (4,119) (58,624)
Net assets 157,819 147,782
Capital and reserves
Called up share capital 5,000 5,000
Capital redemption reserve 8 5,000 5,000
Profit and loss account 147,819 137,782
Shareholders' funds 157,819 147,782
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sean Digney
Director
Approved by the board on 2 May 2025
Digney Grant Financial Planning Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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 represents the value, net of value added tax and discounts, of services undertaken by the company in its principal activity as providers of financial services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% straight line
Fixtures and fittings 15% reducing balance
Office equipment 15% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
Additions 164,325
At 31 December 2024 164,325
Amortisation
Provided during the year 16,433
At 31 December 2024 16,433
Net book value
At 31 December 2024 147,892
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Fixtures and Fittings Office Equipment Total
£ £ £ £
Cost
At 1 January 2024 172,436 23,729 16,032 212,197
Additions - 1,080 1,821 2,901
Disposals (172,436) - - (172,436)
At 31 December 2024 - 24,809 17,853 42,662
Depreciation
At 1 January 2024 20,692 14,635 9,571 44,898
Charge for the year - 1,405 1,200 2,605
On disposals (20,692) - - (20,692)
At 31 December 2024 - 16,040 10,771 26,811
Net book value
At 31 December 2024 - 8,769 7,082 15,851
At 31 December 2023 151,744 9,094 6,461 167,299
5 Debtors 2024 2023
£ £
Other debtors 10,705 9,073
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 10,648 40,883
Director's current accounts 524 629
Trade creditors 10,169 10,169
Corporation tax 25,002 26,532
Other creditors 113,551 3,500
159,894 81,713
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,119 58,624
8 Capital redemption reserve 2024 2023
£ £
At 1 January 5,000 5,000
At 31 December 5,000 5,000
The Capital Redemption reserve was set up as a result of the purchase and subsequent cancellation of 5000 ordinary shares with nominal value of £1 each on 25th March 2021.
9 Events after the reporting date
There have been no events since the balance sheet date which would require the financial statements to be re-stated.
10 Related party transactions
There were no transactions with directors outside the normal course of business.
11 Controlling party
The company is controlled by the director Mr Sean Digney.
12 Other information
Digney Grant Financial Planning Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
5 Downshire Close
41-43 Downshire Road
Newry
Co. Down
BT34 1FD
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