Registration number: 06030606

Straight Talk Financial Planning Limited

Contents

Company Information	1
Director's Report	2
Statement of Director's Responsibilities	3
Abridged Balance Sheet	4 to 5
Notes to the Unaudited Abridged Financial Statements	6 to 10

Straight Talk Financial Planning Limited

Company Information

Director

Mrs C Rupik

Registered office

Unit 10 Chevron Business Park Holbury Southampton Hampshire SO45 2QL

Accountants

Ward Goodman Accountancy Services Ltd Chartered Certified Accountants4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Straight Talk Financial Planning Limited

Director's Report for the Year Ended 31 December 2024

The director presents her report and the abridged financial statements for the year ended 31 December 2024.

Director of the company

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

Mrs C Rupik

Principal activity

The principal activity of the company is that of financial advisers.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 September 2025
 

......................................... Mrs C Rupik Director

Straight Talk Financial Planning Limited

Statement of Director's Responsibilities

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 she is 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 apply them consistently;

•	make judgements 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 are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She 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.

Straight Talk Financial Planning Limited

(Registration number: 06030606)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	33,197	30,591
Current assets
Debtors		72,847	66,201
Cash at bank and in hand		45,557	14,267
		118,404	80,468
Prepayments and accrued income		3,228	3,733
Creditors: Amounts falling due within one year		(89,381)	(88,911)
Net current assets/(liabilities)		32,251	(4,710)
Total assets less current liabilities		65,448	25,881
Creditors: Amounts falling due after more than one year		(2,500)	(8,500)
Provisions for liabilities		(5,106)	(4,155)
Accruals and deferred income		(4,739)	(3,246)
Net assets		53,103	9,980
Capital and reserves
Called up share capital		7,002	7,002
Retained earnings		46,101	2,978
Shareholders' funds		53,103	9,980

For the financial year ending 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; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Straight Talk Financial Planning Limited

(Registration number: 06030606)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the director on 17 September 2025
 

......................................... Mrs C Rupik Director

Straight Talk Financial Planning Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 10 Chevron Business Park
Holbury
Southampton
Hampshire
SO45 2QL
England

These financial statements were authorised for issue by the director on 17 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Straight Talk Financial Planning Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Short leasehold	5% straight line method
Fixtures & fittings	20% reducing balance method
Office equipment	20% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Straight Talk Financial Planning Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

Straight Talk Financial Planning Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Improvements to property £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	25,694	9,256	7,539	42,489
Additions	-	-	5,471	5,471
At 31 December 2024	25,694	9,256	13,010	47,960
Depreciation
At 1 January 2024	2,747	5,093	4,058	11,898
Charge for the year	1,285	832	748	2,865
At 31 December 2024	4,032	5,925	4,806	14,763
Carrying amount
At 31 December 2024	21,662	3,331	8,204	33,197
At 31 December 2023	22,947	4,163	3,481	30,591

5	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £12,376 (2023 - £14,500). These commitments are included within creditors and are made up of a Government backed bounce back loan of £8,500 (2023: £14,500) and an interest free loan from an associated company of £3,876 that is repayable on demand.

Included in the balance sheet are pensions of £1,224 (2023 - £1,495). The company operates a money purchase pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. These are included within creditors.

Straight Talk Financial Planning Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

6	Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	5,209	12,500

Loans to related parties

2024	Other related parties £	Total £
At start of period	66,201	66,201
Advanced	6,583	6,583
Repaid	(700)	(700)
At end of period	72,084	72,084

2023	Other related parties £	Total £
At start of period	61,293	61,293
Advanced	4,908	4,908
At end of period	66,201	66,201

Terms of loans to related parties

This a loan owed by a shareholder and it is interest free and repayable on demand.