| REGISTERED NUMBER: |
| Financial Statements |
| for the Period |
| 1 February 2024 to 31 March 2025 |
| for |
| The Financial Planning Corporation LLP |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| 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 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 were approved by the members of the LLP and authorised for issue on |
| 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 |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for period |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 January 2024 |
| 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 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.1.24 |
| £ | £ |
| Social security and other taxes |
| VAT | 4,058 | 3,694 |
| Other creditors |
| Accrued expenses |
| 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). |