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REGISTERED NUMBER: OC337787 (England and Wales)














Financial Statements

for the Period

1 February 2024 to 31 March 2025

for

The Financial Planning Corporation LLP

The Financial Planning Corporation LLP (Registered number: OC337787)

Contents of the Financial Statements
for the Period 1 February 2024 to 31 March 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Financial Planning Corporation LLP

General Information
for the Period 1 February 2024 to 31 March 2025







DESIGNATED MEMBERS: R M Ralphs
Ms M F O'Shaughnessy





REGISTERED OFFICE: Lancaster Terrace
124 Station Road
Ainsdale
Southport
Merseyside
PR8 3HL





REGISTERED NUMBER: OC337787 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

The Financial Planning Corporation LLP (Registered number: OC337787)

Balance Sheet
31 March 2025

31.3.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,923 40,392

CURRENT ASSETS
Debtors 5 3,061 2,231
Cash at bank and in hand 340,585 355,064
343,646 357,295
CREDITORS
Amounts falling due within one year 6 38,812 25,430
NET CURRENT ASSETS 304,834 331,865
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 333,757 372,257

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 283,757 322,257

MEMBERS' OTHER INTERESTS
Capital accounts 50,000 50,000
333,757 372,257

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 283,757 322,257
Members' other interests 50,000 50,000
333,757 372,257

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2025.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The Financial Planning Corporation LLP (Registered number: OC337787)

Balance Sheet - continued
31 March 2025


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 June 2025 and were signed by:





R M Ralphs - Designated member

The Financial Planning Corporation LLP (Registered number: OC337787)

Notes to the Financial Statements
for the Period 1 February 2024 to 31 March 2025


1. STATUTORY INFORMATION

The Financial Planning Corporation LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

The Financial Planning Corporation LLP (Registered number: OC337787)

Notes to the Financial Statements - continued
for the Period 1 February 2024 to 31 March 2025


2. ACCOUNTING POLICIES - continued

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 17 (2024 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2024 46,823 77,777 124,600
Additions - 2,797 2,797
At 31 March 2025 46,823 80,574 127,397
DEPRECIATION
At 1 February 2024 27,070 57,138 84,208
Charge for period 5,761 8,505 14,266
At 31 March 2025 32,831 65,643 98,474
NET BOOK VALUE
At 31 March 2025 13,992 14,931 28,923
At 31 January 2024 19,753 20,639 40,392

The Financial Planning Corporation LLP (Registered number: OC337787)

Notes to the Financial Statements - continued
for the Period 1 February 2024 to 31 March 2025


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.1.24
£    £   
Other debtors - 850
Prepayments 3,061 1,381
3,061 2,231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.1.24
£    £   
Social security and other taxes 30,302 16,046
VAT 4,058 3,694
Other creditors - 1,522
Accrued expenses 4,452 4,168
38,812 25,430

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

There is no formal agreement regarding the ranking of loans and other debts due to members in relation to other creditors. The default provisions as per section 7 of the Limited Liability Partnership Regulations 2001 therefore apply.

8. RELATED PARTY DISCLOSURES

During the year the LLP paid rent to a limited company under the ownership of two of the members. The amount of rent paid was £98,000 (2023 - £84,000).