Direct Financial Planning Ltd

Direct Financial Planning Ltd
Director's Report
For the year ended 31 December 2024

Director's report and financial statements

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

Principal activities

The principal activity of the company in the year under review was that of letting of property.

Director

The director who has held office during the whole of the year was as follows:

Mr I C Hubbard

Statement of director's responsibilities

The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.

----------------------------------
Mr I C Hubbard
Director

Date approved: 05 September 2025

Direct Financial Planning Ltd
Statement of Financial Position
As at 31 December 2024

	Notes	2024 £	2023 £
Fixed assets
Investments	4	1,549,000	1,529,000
		1,549,000	1,529,000
Current assets
Debtors	5	93,088	184,637
Cash at bank and in hand		744,083	783,131
		837,171	967,768
Creditors: amount falling due within one year	6	(1,142,553)	(1,311,102)
Net current assets		(305,382)	(343,334)

Total assets less current liabilities		1,243,618	1,185,666
Creditors: amount falling due after more than one year	7	(211,154)	(230,128)
Provisions for liabilities	8	(94,370)	(81,582)
Net assets		938,094	873,956

Capital and reserves
Called up share capital		400	400
Profit and loss account		937,694	873,556
Shareholders' funds		938,094	873,956

For the 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.

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.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 05 September 2025 and were signed by:

-------------------------------
Mr I C Hubbard
Director

Direct Financial Planning Ltd
Notes to the Financial Statements
For the year ended 31 December 2024

General Information

Direct Financial Planning Ltd is a private company, limited by shares, registered in England and Wales, registration number 04505057, registration address 2 Osborne Place Lockyer Street, The Hoe, Plymouth, Devon, PL1 2PU.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred taxation

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.

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

3 Years Straight Line

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 0 (2023 : 0).

Tangible fixed assets

Cost or valuation	Plant and Machinery	Total
	£	£
At 01 January 2024	22,967	22,967
Additions	-	-
Disposals	-	-
At 31 December 2024	22,967	22,967
Depreciation
At 01 January 2024	22,967	22,967
Charge for year	-	-
On disposals	-	-
At 31 December 2024	22,967	22,967
Net book values
Closing balance as at 31 December 2024	-	-
Opening balance as at 01 January 2024	-	-

Investments

Cost	Other investments other than loans	Total
	£	£
At 01 January 2024	1,529,000	1,529,000
Additions	-	-
Transfer to/from tangible fixed assets	-	-
Disposals	-	-
Revaluations	20,000	20,000
At 31 December 2024	1,549,000	1,549,000

Fair Value at 31st December 2020 is represented by:		Investment Properties £
Valuation in 2015		41,689
Valuation in 2016		50,000
Valuation in 2017		50,000
Valuation in 2018		15,000
Valuation in 2019		40,000
Valuation in 2020		142,690
Valuation in 2021		40,000
Valuation in 2022		50,000
Valuation in 2024		20,000
Cost		1,099,621
		1,549,000

Investment property is shown at the most recent valuation. Any aggregate surplus' or deficits arising from changes in the market value are recognised in the profit or loss.

Investment properties have been valued as at 31 December 2024 on the basis of their open market value with vacant possession, by the director Mr I C Hubbard.

Debtors: amounts falling due within one year

	2024 £		2023 £
Trade Debtors	93,088		184,637
	93,088		184,637

Creditors: amount falling due within one year

	2024 £	2023 £
Bank Loans & Overdrafts	19,700	20,373
Taxation and Social Security	15,422	31,174
Other Creditors	1,107,431	1,259,555
	1,142,553	1,311,102

Creditors: amount falling due after more than one year

	2024 £		2023 £
Bank Loans & Overdrafts	211,154		230,128
	211,154		230,128

Provisions for liabilities

	2024 £		2023 £
Deferred Tax	94,370		81,582
	94,370		81,582

Secured debts

		2022 £		2021 £
Bank Loans		269,621		291,641
		269,621		291,641

Security for the bank loan is provided under the terms of the agreement in the form of the Bank's first legal charge against the freehold property. A director's personal guarantee is also in place for the following amount: Mr I C Hubbard £290,500.

10.	Reserves The reserves includes a non-distributable amount of £449,379 arising from revaluations adjustments.

11.	Ultimate controlling party During the year the company was under the control of its director Mr I C Hubbard by virtue of his majority shareholding.

12.	Related party The amount owed to the director at the year end was £1,105,048 (2023: £1,257,582).

Registered Number: 04505057
England and Wales
Unaudited Financial Statements

for the year ended 31 December 2024
for
DIRECT FINANCIAL PLANNING LTD