Sound Financial Planning Limited

	Page
Accountant's Report	1
Statement of Financial Position	2—3
Notes to the Financial Statements	4—6

Report to the directors on the preparation of the unaudited statutory accounts of Sound Financial Planning Limited For The Year Ended 30 April 2025

To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Sound Financial Planning Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Sound Financial Planning Limited , as a body, in accordance with the terms of our engagement letter dated 26 July 2021. Our work has been undertaken solely to prepare for your approval the accounts of Sound Financial Planning Limited and state those matters that we have agreed to state to the directors of Sound Financial Planning Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sound Financial Planning Limited and its directors as a body for our work or for this report.

It is your duty to ensure that Sound Financial Planning Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sound Financial Planning Limited . You consider that Sound Financial Planning Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Sound Financial Planning Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

09/09/2025

FB Accountancy Services Limited

Chartered Certified Accountants

Unit 16, Heronsgate Trading Estate

Paycocke Road

Basildon

Essex

SS14 3EU

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Sound Financial Planning Limited

Statement of Financial Position

As At 30 April 2025

Statement of Financial Position

Registered number: 03980161

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		40,833		110,833
Tangible Assets	5		29,068		21,068

			69,901		131,901
CURRENT ASSETS
Debtors	6	130,570		124,803
Cash at bank and in hand		136,920		181,589

		267,490		306,392
Creditors: Amounts Falling Due Within One Year	7	(168,430 )		(210,597 )

NET CURRENT ASSETS (LIABILITIES)			99,060		95,795

TOTAL ASSETS LESS CURRENT LIABILITIES			168,961		227,696

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,267 )		(5,267 )

NET ASSETS			161,694		222,429

CAPITAL AND RESERVES
Called up share capital	8		100		100
Income Statement			161,594		222,329

SHAREHOLDERS' FUNDS			161,694		222,429

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Sound Financial Planning Limited

Statement of Financial Position (continued)

As At 30 April 2025

For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Andrew Hall

Director

09/09/2025

The notes on pages 4 to 6 form part of these financial statements.

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Sound Financial Planning Limited

Notes to the Financial Statements

For The Year Ended 30 April 2025

Notes to the Financial Statements

1. General Information

Sound Financial Planning Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03980161 . The registered office is 16 Herons Gate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 commission receivable and from the rendering of services.

Commission receivable

Turnover from commission receivable is recognised in respect of policies on risk at the balance sheet date.

Rendering of services

Turnover from the rendering of services is recognised on completion of the work carried out.

2.3. Intangible Fixed Assets and Amortisation - 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 income statement over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Reducing balance
Computer Equipment	25% Reducing balance

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 9)

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Sound Financial Planning Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 May 2024	590,000

As at 30 April 2025	590,000

Amortisation
As at 1 May 2024	479,167
Provided during the period	70,000

As at 30 April 2025	549,167

Net Book Value
As at 30 April 2025	40,833

As at 1 May 2024	110,833

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2024	14,935	23,532	38,467
Additions	833	13,359	14,192

As at 30 April 2025	15,768	36,891	52,659

Depreciation
As at 1 May 2024	6,324	11,075	17,399
Provided during the period	2,222	3,970	6,192

As at 30 April 2025	8,546	15,045	23,591

Net Book Value
As at 30 April 2025	7,222	21,846	29,068

As at 1 May 2024	8,611	12,457	21,068

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	4,338	5,969
Other debtors	117,312	110,101
Amounts owed by group undertakings	8,920	8,733

	130,570	124,803

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Sound Financial Planning Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	29,708	68,403
Corporation tax	107,694	83,867
Other taxes and social security	12,272	12,461
Other creditors	18,756	45,866

	168,430	210,597

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	1,365	1,365
Later than one year and not later than five years	1,138	2,503

	2,503	3,868

10. Related Party Transactions

Sound Financial Planning Group Ltd

Parent Company.

During the year net dividends amounting to £305,000 (2024: £242,000) were paid to Sound Financial Planning Group Ltd. At the balance sheet date, there was a balance owing from Sound Financial Planning Group Ltd of £8,920 (2024: £8,733).

Sound Financial Services LLP

A Limited Liability Partnership in which both Paul Spires and Andrew Hall are the partners.

During the year, rent of £59,786 (2024: £147,716) was paid to Sound Financial Services LLP. At the balance sheet date, there was a balance owing from Sound Financial Services LLP of £20,271 (2024: owing to £26,627).

11. Parent Undertaking and Controlling Party

The company's immediate and parent undertaking is Sound Financial Planning Group Limited . The address of the registered office is 16 Heronsgate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU. Sound Financial Planning Group Limited was incorporated in England & Wales. The controlling party is Sound Financial Planning Group Limited who controls 100% of the shares of Sound Financial Planning Limited .

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