REGISTERED NUMBER: 05107595 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

LFP Consultants Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mark John Chester

SECRETARY:

Mark John Chester

REGISTERED OFFICE:

Legacy House

407 Preston Road

Clayton Le woods

Chorley

Lancashire

PR6 7JA

REGISTERED NUMBER:

05107595 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

Chartered Accountants

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

FIXED ASSETS

Intangible assets

4

4,595

23,639

Tangible assets

5

115,551

179,879

120,146

203,518

CURRENT ASSETS

Debtors

6

126,655

-

Cash at bank

650,003

290,210

776,658

290,210

CREDITORS

Amounts falling due within one year

7

576,879

199,536

NET CURRENT ASSETS

199,779

90,674

TOTAL ASSETS LESS CURRENT LIABILITIES

319,925

294,192

CREDITORS

Amounts falling due after more than one year

8

-

(112,772

)

PROVISIONS FOR LIABILITIES

(20,484

)

(33,917

)

NET ASSETS

299,441

147,503

CAPITAL AND RESERVES

Called up share capital

10

14,209

14,204

Retained earnings

285,232

133,299

SHAREHOLDERS' FUNDS

299,441

147,503

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

Mark John Chester - Director

1.	STATUTORY INFORMATION

LFP Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number 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.

Demerger of part of the LFP Consultants Limited business to Journey Financial Planinng Limited

Background

On 31 December 2024, LFP Consultants Limited ("LFP") completed a statutory demerger of 50% of its existing trade pursuant to a Scheme of Statutory Demerger. Under the Scheme, 50% of the company's trade, together with the related assets, liabilities, and operations, was transferred to a newly incorporated company, Journey Financial Planning Limited ("Journey"), as a going concern.

The demerger was undertaken to enable both entities to continue trading independently while pursuing distinct strategic and commercial objectives.

Accounting Treatment

The demerger has been accounted for in accordance with the principles of FRS 102 - Section 19 "Business Combinations and Goodwill" and the guidance of FRS 102 - Section 22 "Liabilities and Equity".

The transaction was effected by way of a dividend in specie, whereby 50% of the assets and corresponding liabilities of LFP were transferred to Journey at their existing book values as at the effective date of 31 December 2024. No goodwill or gain/loss has been recognised in the Statement of Comprehensive Income because of this transaction.

Impact on the Financial Statements

The results for the year ended 30 April 2025 do not include the trading operations of Journey Financial Planning Limited.

Post-Demerger Position

Following the demerger, the Directors believe that the separation will enable each business to focus on its respective strategic objectives, enhance operational efficiency, and create greater long-term value for shareholders.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill on incorporation is being written off over 20 years .The goodwill on incorporation has been reviewed in the light of recent changes within the financial services industry and is considered to be appropriate. Goodwill acquired is being written off over its economic life of 5 years as a result of Retail Distribution Review.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed assets investments comprise investments in quoted shares and similar equity investments. The investments are initially recognised at cost but are subsequently held a fair value, based on market values at the financial period end.

Any fair value adjustments are reported in the income statement as unrealised gains or losses. Upon disposal the profit or loss is reported through the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

3,217,275

Disposals

(1,608,637

)

At 30 April 2025

1,608,638

AMORTISATION

At 1 May 2024

3,193,636

Amortisation for year

14,450

Eliminated on disposal

(1,604,043

)

At 30 April 2025

1,604,043

NET BOOK VALUE

At 30 April 2025

4,595

At 30 April 2024

23,639

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2024

106,135

1,539

68,284

Disposals

(53,068

)

(768

)

(34,142

)

At 30 April 2025

53,067

771

34,142

DEPRECIATION

At 1 May 2024

61,925

1,539

62,846

Charge for year

10,614

-

1,357

Eliminated on disposal

(36,270

)

(768

)

(32,102

)

At 30 April 2025

36,269

771

32,101

NET BOOK VALUE

At 30 April 2025

16,798

-

2,041

At 30 April 2024

44,210

-

5,438

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2024

223,088

93,879

492,925

Disposals

-

(46,939

)

(134,917

)

At 30 April 2025

223,088

46,940

358,008

DEPRECIATION

At 1 May 2024

108,867

77,869

313,046

Charge for year

22,844

5,341

40,156

Eliminated on disposal

-

(41,605

)

(110,745

)

At 30 April 2025

131,711

41,605

242,457

NET BOOK VALUE

At 30 April 2025

91,377

5,335

115,551

At 30 April 2024

114,221

16,010

179,879

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2024

and 30 April 2025

223,088

DEPRECIATION

At 1 May 2024

108,867

Charge for year

22,844

At 30 April 2025

131,711

NET BOOK VALUE

At 30 April 2025

91,377

At 30 April 2024

114,221

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

122,604

-

Other debtors

3,151

-

Prepayments

900

-

126,655

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Hire purchase contracts (see note 9)

112,772

27,095

Trade creditors

1,652

1,375

Other loan account

69,533

-

Tax

360,173

143,350

Other creditors

7,876

16,502

Other tax creditor

10,854

-

Directors' loan accounts

551

671

Accrued expenses

13,468

10,543

576,879

199,536

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Hire purchase contracts (see note 9)

-

112,772

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.4.25

30.4.24

£

£

Net obligations repayable:

Within one year

112,772

27,095

Between one and five years

-

112,772

112,772

139,867

Non-cancellable

operating leases

30.4.25

30.4.24

£

£

Within one year

2,271

4,542

10.	CALLED UP SHARE CAPITAL

Number:

Class:

Nominal Value:

30.04.2025

30.04.2024

14,204(2024: 14,000)

Ordinary

1.00

£14,204

£14,000

0 (2024: 2)

'A' Ordinary

1.00

-

£2

0 (2024: 100)

'B' Ordinary

1.00

-

£100

0 (2024: 100)

'C' Ordinary

1.00

-

£100

0 (2024: 1)

'D' Ordinary

1.00

-

£1

0 (2024: 1)

'E' Ordinary

1.00

-

£1

1 (2024: 0)

A Ordinary

1.00

£1

-

1 (2024: 0)

B Ordinary

1.00

£1

-

1 (2024: 0)

C Ordinary

1.00

£1

-

1 (2024: 0)

D Ordinary

1.00

£1

-

1 (2024: 0)

E Ordinary

1.00

£1

-

£14,209

£14,204

On 23 January 2025 there was a series of share reclassifications that took place as follows:

2 'A' Ordinary Shares were reclassified to 2 Ordinary Shares

100 'B' Ordinary Share were reclassified to 100 Ordinary Shares

100 'C' Ordinary Share were reclassified to 100 Ordinary Shares

1 'D' Ordinary Share was reclassified to 1Ordinary Share

1 'E' Ordinary Share was reclassified to 1 Ordinary Share

On 29 April 2025 the following shares were issued for cash at par:

1 A Ordinary Share of £1

1 B Ordinary Share of £1

1 C Ordinary Share of £1

1 D Ordinary Share of £1

1 E Ordinary Share of £1