Company registration number 06613871 (England and Wales)
DELPHIC FINANCIAL PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
DELPHIC FINANCIAL PLANNING LIMITED
CONTENTS
Page
Company information
1
Director's report
2
Profit and loss account
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 11
DELPHIC FINANCIAL PLANNING LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr P A Donoghue
Secretary
Mr P A Donoghue
Company number
06613871
Registered office
17 Heritage Park
Hayes Way
Cannock
Staffordshire
WS11 7LT
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
DELPHIC FINANCIAL PLANNING LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The director presents his annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of activities auxiliary to insurance and pension funding.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr P A Donoghue
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr P A Donoghue
Director
17 July 2025
DELPHIC FINANCIAL PLANNING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2024
2023
£
£
Turnover
1,816,657
1,837,354
Cost of sales
(949,253)
(1,105,081)
Gross profit
867,404
732,273
Administrative expenses
(794,219)
(780,135)
Operating profit/(loss)
73,185
(47,862)
Interest payable and similar expenses
(54,686)
(21,017)
Profit/(loss) before taxation
18,499
(68,879)
Tax on profit/(loss)
-
0
-
0
Profit/(loss) for the financial year
18,499
(68,879)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

DELPHIC FINANCIAL PLANNING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
156,587
122,991
Tangible assets
4
41,553
49,024
198,140
172,015
Current assets
Debtors
5
258,411
319,128
Cash at bank and in hand
9,100
478
267,511
319,606
Creditors: amounts falling due within one year
6
(349,935)
(526,407)
Net current liabilities
(82,424)
(206,801)
Total assets less current liabilities
115,716
(34,786)
Creditors: amounts falling due after more than one year
7
(309,689)
(177,686)
Net liabilities
(193,973)
(212,472)
Capital and reserves
Called up share capital
8
111
111
Profit and loss reserves
(194,084)
(212,583)
Total equity
(193,973)
(212,472)
DELPHIC FINANCIAL PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 5 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

The financial statements were approved and signed by the director and authorised for issue on 17 July 2025
Mr P A Donoghue
Director
Company Registration No. 06613871
DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Company information

Delphic Financial Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Heritage Park, Hayes Way, Cannock, Staffordshire, WS11 7LT.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the company's liabilities exceeded its assets by £183,161. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and this has been supported by a loan made to the company by the director. Providing the director does not recall this loan he considers it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

1.4
Intangible fixed assets - goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.

1.5
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:

Leasehold land and buildings
20% Reducing balance
Fixtures and fittings
20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.12
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
12
25
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024
230,212
Additions
62,908
At 31 December 2024
293,120
Amortisation and impairment
At 1 January 2024
107,221
Amortisation charged for the year
29,312
At 31 December 2024
136,533
Carrying amount
At 31 December 2024
156,587
At 31 December 2023
122,991
DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
28,082
119,304
147,386
Additions
-
0
2,917
2,917
At 31 December 2024
28,082
122,221
150,303
Depreciation and impairment
At 1 January 2024
17,367
80,995
98,362
Depreciation charged in the year
2,143
8,245
10,388
At 31 December 2024
19,510
89,240
108,750
Carrying amount
At 31 December 2024
8,572
32,981
41,553
At 31 December 2023
10,715
38,309
49,024
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,604
40,647
Other debtors
254,807
278,481
258,411
319,128
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
230,441
87,842
Trade creditors
18,158
8,693
Taxation and social security
41,534
10,640
Other creditors
59,802
419,232
349,935
526,407
DELPHIC FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
138,224
177,686
Other creditors
171,465
-
0
309,689
177,686
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
1,111
1,111
111
111
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
76,438
111,870
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