Company No: 04423547

Blue Sky Financial Planning Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Blue Sky Financial Planning Limited

Company Information

Directors

G Neild T M Dimond R F Skinner

Registered office

Suite 8 Bourne Gate 25 Bourne Valley Road Poole Dorset BH12 1DY

Accountants

Brett Pittwood Chartered Certified Accountants Suite 8 Bourne Gate 25 Bourne Valley Road Poole Dorset BH12 1DY

Blue Sky Financial Planning Limited

(Registration number: 04423547)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	20,896	23,740
Other financial assets	5	57	57
		20,953	23,797
Current assets
Debtors	6	66,946	66,276
Investments	7	262,935	251,451
Cash at bank and in hand		270,572	369,893
		600,453	687,620
Creditors: Amounts falling due within one year	8	(191,536)	(148,100)
Net current assets		408,917	539,520
Total assets less current liabilities		429,870	563,317
Provisions for liabilities		(5,283)	(5,746)
Net assets		424,587	557,571
Capital and reserves
Called up share capital		1,050	1,050
Share premium reserve		118,950	118,950
Retained earnings		304,587	437,571
Shareholders' funds		424,587	557,571

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.

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

These financial statements have 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.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2025 and signed on its behalf by:
 

R F Skinner
Director

Blue Sky Financial Planning Limited

Notes to the Unaudited 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:
Suite 8 Bourne Gate
25 Bourne Valley Road
Poole
Dorset
BH12 1DY
United Kingdom

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 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 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 financial statements are presented in sterling which is the functional currency of the company. Monetary amounts are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Blue Sky Financial Planning Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Leasehold improvements	20% straight line basis
Fixtures and fittings	20% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Blue Sky Financial Planning Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Blue Sky Financial Planning Limited

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

Financial instruments

Classification
Financial assets

Basic financial assets
Basic financial assets, which include trade debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 18).

Blue Sky Financial Planning Limited

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

4	Tangible assets

	Leasehold improvements £	Fixtures and fittings £	Total £
Cost or valuation
At 1 January 2024	29,473	140,758	170,231
Additions	-	7,139	7,139
At 31 December 2024	29,473	147,897	177,370
Depreciation
At 1 January 2024	28,716	117,775	146,491
Charge for the year	757	9,226	9,983
At 31 December 2024	29,473	127,001	156,474
Carrying amount
At 31 December 2024	-	20,896	20,896
At 31 December 2023	757	22,983	23,740

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	57	57
At 31 December 2024	57	57
Impairment
Carrying amount
At 31 December 2024	57	57

Blue Sky Financial Planning Limited

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

6

Debtors

	2024 £	2023 £
Trade debtors	31,214	29,435
Prepayments	35,732	36,841
	66,946	66,276

7	Current asset investments

	2024 £	2023 £
Other investments	262,935	251,451

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	7,932	7,918
Taxation and social security	10,041	20,127
Accruals and deferred income	5,014	5,014
Other creditors	168,549	115,041
	191,536	148,100