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REGISTERED NUMBER: 05417552 (England and Wales)












PRUDENT FINANCIAL PLANNING ADVICE
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRUDENT FINANCIAL PLANNING ADVICE
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Directors: Mr J B Booth
Mrs V J Booth



Secretary:



Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Business address: C/o Mr J Booth
46 Harrier Way
PRESTON
PR2 9AU



Registered number: 05417552 (England and Wales)



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: National Westminster Bank Plc
68 Church Street
LANCASTER
LA1 1LN

PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1,437,504 1,586,192
Tangible assets 5 43,804 60,485
1,481,308 1,646,677

Current assets
Stocks 175 200
Debtors 6 174,359 172,514
Cash at bank 1,187 67
175,721 172,781
Creditors
Amounts falling due within one year 7 401,634 334,482
Net current liabilities (225,913 ) (161,701 )
Total assets less current liabilities 1,255,395 1,484,976

Creditors
Amounts falling due after more than one
year

8

(1,186,197

)

(1,457,542

)

Provisions for liabilities (15,023 ) (15,023 )
Net assets 54,175 12,411

Capital and reserves
Called up share capital 200 200
Retained earnings 53,975 12,211
Shareholders' funds 54,175 12,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

BALANCE SHEET - continued
31 DECEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:





Mr J B Booth - Director


PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Statutory information

Prudent Financial Planning Advice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a service to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of clients, is being amortised evenly over its estimated useful life of 14 Years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 20% Straight line and 20% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 8 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 2,196,225
Amortisation
At 1 January 2024 610,033
Charge for year 148,688
At 31 December 2024 758,721
Net book value
At 31 December 2024 1,437,504
At 31 December 2023 1,586,192

PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2024
and 31 December 2024 171,631
Depreciation
At 1 January 2024 111,146
Charge for year 16,681
At 31 December 2024 127,827
Net book value
At 31 December 2024 43,804
At 31 December 2023 60,485

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 75,346 47,157
Other debtors 99,013 125,357
174,359 172,514

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 220,580 222,142
Hire purchase contracts 55,732 14,747
Trade creditors 2,735 29,395
Taxation and social security 113,976 61,434
Other creditors 8,611 6,764
401,634 334,482

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 1,186,197 1,401,810
Hire purchase contracts - 55,732
1,186,197 1,457,542

PRUDENT FINANCIAL PLANNING ADVICE
LIMITED (REGISTERED NUMBER: 05417552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. Creditors: amounts falling due after more than one year - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 359,566 565,404

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr J B Booth
Balance outstanding at start of year 18,531 39,624
Amounts advanced 19,900 101,581
Amounts repaid (12,156 ) (122,674 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,275 18,531

Mrs V J Booth
Balance outstanding at start of year (511 ) -
Amounts advanced 16,505 -
Amounts repaid (6,593 ) (511 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,401 (511 )