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Registration number: 09197636

Libertas Financial Planning Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Libertas Financial Planning Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Libertas Financial Planning Ltd

Company Information

Director

Mr P Burdett

Registered office

Green Park Arlington
5 Exeter Park Road
Bournemouth
Dorset
BH2 5BD

Accountants

Elysium
Chartered AccountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

Libertas Financial Planning Ltd

(Registration number: 09197636)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,199

2,020

Current assets

 

Debtors

6

148,928

168,851

Cash at bank and in hand

 

3,660

31,199

 

152,588

200,050

Creditors: Amounts falling due within one year

7

(86,180)

(101,181)

Net current assets

 

66,408

98,869

Total assets less current liabilities

 

69,607

100,889

Creditors: Amounts falling due after more than one year

7

(68,183)

(99,100)

Net assets

 

1,424

1,789

Capital and reserves

 

Called up share capital

90

90

Capital redemption reserve

10

10

Retained earnings

1,324

1,689

Shareholders' funds

 

1,424

1,789

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 12 May 2025
 

.........................................
Mr P Burdett
Director

 

Libertas Financial Planning Ltd

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 October 2023

90

10

1,689

1,789

Profit for the year

-

-

157,600

157,600

Dividends

-

-

(157,965)

(157,965)

At 30 September 2024

90

10

1,324

1,424

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 October 2022

100

-

1,221

1,321

Profit for the year

-

-

250,778

250,778

Dividends

-

-

(182,810)

(182,810)

Purchase of own share capital

(10)

-

(67,500)

(67,510)

Other capital redemption reserve movements

-

10

-

10

At 30 September 2023

90

10

1,689

1,789

 

Libertas Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Green Park Arlington
5 Exeter Park Road
Bournemouth
Dorset
BH2 5BD

These financial statements were authorised for issue by the director on 12 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Libertas Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

Straight line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Libertas Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,536

1,550

 

Libertas Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

11,682

11,682

Additions

2,714

2,714

At 30 September 2024

14,396

14,396

Depreciation

At 1 October 2023

9,662

9,662

Charge for the year

1,535

1,535

At 30 September 2024

11,197

11,197

Carrying amount

At 30 September 2024

3,199

3,199

At 30 September 2023

2,020

2,020

6

Debtors

Current

2024
£

2023
£

Prepayments

528

-

Other debtors

148,400

168,851

 

148,928

168,851

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

30,975

28,496

Taxation and social security

 

52,455

72,302

Other creditors

 

2,750

383

 

86,180

101,181

Creditors: amounts falling due after more than one year

 

Libertas Financial Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

68,183

99,100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,670

18,716

Other borrowings

60,513

80,384

68,183

99,100

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,103

11,103

Bank overdrafts

1

1

Other borrowings

19,871

17,392

30,975

28,496