REGISTERED NUMBER: 10118057 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

Breakwater Financial Planning Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Director:

D Critten

Registered office:

18 Candish Drive

Elburton

Plymouth

Devon

PL9 8DB

Registered number:

10118057 (England and Wales)

Accountants:

Websters

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

14,801

15,082

Current assets

Debtors

5

6,492

7,064

Investments

6

265,565

167,401

Cash at bank

11,213

92,686

283,270

267,151

Creditors

Amounts falling due within one year

7

17,688

23,765

Net current assets

265,582

243,386

Total assets less current liabilities

280,383

258,468

Provisions for liabilities

8

2,660

1,350

Net assets

277,723

257,118

Capital and reserves

Called up share capital

9

100

100

Retained earnings

277,623

257,018

Shareholders' funds

277,723

257,118

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2025 and were signed by:

D Critten - Director

1.	STATUTORY INFORMATION

Breakwater Financial Planning Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, subject to the fair value of assets where applicable.

Turnover

Turnover is measured at the fair value of the consideration receivable, and represents amounts receivable for financial service advice. Income is recognised when the advice is complete and all policy inception risks have been accepted by the underwriters.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 tax

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.

Pension costs and other post-retirement benefits

The company makes contributions to employee defined contribution pension schemes. Contributions payable to such schemes are charged to profit or loss in the period in which they are paid.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

Cost

At 1 July 2024

29,455

Additions

2,232

At 30 June 2025

31,687

Depreciation

At 1 July 2024

14,373

Charge for year

2,513

At 30 June 2025

16,886

Net book value

At 30 June 2025

14,801

At 30 June 2024

15,082

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,021

7,064

Other debtors

471

-

6,492

7,064

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Listed Investments

265,565

167,401

Investments are stated at fair market value at the balance sheet date. Any gain or loss is then recognised in the profit and loss account.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

12,000

16,000

Other creditors

5,688

7,765

17,688

23,765

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,660

1,350

Deferred

tax

£

Balance at 1 July 2024

1,350

Provided during year

1,310

Balance at 30 June 2025

2,660

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director, D Critten, £4,189 in respect of his current account balance.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D Critten.