Company registration number 08362756 (England and Wales)
HOOD FINANCIAL PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
HOOD FINANCIAL PLANNING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HOOD FINANCIAL PLANNING LIMITED
BALANCE SHEET
AS AT
6 FEBRUARY 2025
06 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
540
899
Current assets
Debtors
5
14,953
14,735
Cash at bank and in hand
667,861
530,927
682,814
545,662
Creditors: amounts falling due within one year
6
(78,449)
(59,742)
Net current assets
604,365
485,920
Net assets
604,905
486,819
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
604,895
486,809
Total equity
604,905
486,819

For the financial Year ended 6 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 September 2025
Mr T A Hood
Director
Company registration number 08362756 (England and Wales)
HOOD FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Hood Financial Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bloc, 17 Marble Street, Manchester, M2 3AW. The company registration number is 08362756.

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 a mounts in these financial statements are rounded to the nearest £.

1.2
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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:

Fixtures, fittings & equipment
25% on cost
Computer equipment
33% on cost

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.

1.5
Cash at bank and in hand

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.

Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

HOOD FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 6 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Year was:

2025
2024
Number
Number
Total
3
3
HOOD FINANCIAL PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 6 FEBRUARY 2025
- 4 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 7 February 2024 and 6 February 2025
828
4,041
4,869
Depreciation and impairment
At 7 February 2024
828
3,142
3,970
Depreciation charged in the Year
-
0
359
359
At 6 February 2025
828
3,501
4,329
Carrying amount
At 6 February 2025
-
0
540
540
At 6 February 2024
-
0
899
899
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
14,851
14,735
Deferred tax asset
102
-
0
14,953
14,735
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
74,886
56,471
Other taxation and social security
1,043
901
Other creditors
2,520
2,370
78,449
59,742
7
Directors' transactions

Included in other debtors is £6,363 (2024: £5,068) owed by the director. These amounts are interest free and repayable on demand.

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