REGISTERED NUMBER: 15917392 (England and Wales)

Unaudited Financial Statements

for the Period 27 August 2024 to 30 April 2025

for

Journey Financial Planning Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B J Utley

Mr N J Utley

REGISTERED OFFICE:

Legacy House

407 Preston Road

Clayton-Le-Woods

Chorley

Lancs

PR6 7JA

REGISTERED NUMBER:

15917392 (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

Tangible assets

5

36,529

41,124

CURRENT ASSETS

Debtors

6

164,213

Cash at bank

102,457

266,670

CREDITORS

Amounts falling due within one year

7

67,037

NET CURRENT ASSETS

199,633

TOTAL ASSETS LESS CURRENT LIABILITIES

240,757

PROVISIONS FOR LIABILITIES

3,749

NET ASSETS

237,008

CAPITAL AND RESERVES

Called up share capital

9

7,105

Retained earnings

229,903

237,008

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Mr B J Utley - Director

Mr N J Utley - Director

1.	STATUTORY INFORMATION

Journey Financial Planning Ltd 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 period ended 30 April 2025 do not include the trading operations of LFP Consultants 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, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the period 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 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

1,608,638

At 30 April 2025

1,608,638

AMORTISATION

Amortisation for period

1,604,043

At 30 April 2025

1,604,043

NET BOOK VALUE

At 30 April 2025

4,595

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

Additions

53,068

768

45,160

49,160

148,156

At 30 April 2025

53,068

768

45,160

49,160

148,156

DEPRECIATION

Charge for period

36,270

768

32,836

41,753

111,627

At 30 April 2025

36,270

768

32,836

41,753

111,627

NET BOOK VALUE

At 30 April 2025

16,798

-

12,324

7,407

36,529

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

84,680

Other Loan Account

69,533

Prepayments

10,000

164,213

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

5,080

Tax

54,009

Other creditors

644

Directors' loan accounts

913

Accrued expenses

6,391

67,037

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

2,271

9.	CALLED UP SHARE CAPITAL

Number:

Class:

Nominal Value:

30.04.2025

100

C Ordinary

1.00

£100

7,000

E Ordinary

1.00

£7,000

1

G Ordinary

1.00

£1

1

H Ordinary

1.00

£1

1

I Ordinary

1.00

£1

1

J Ordinary

1.00

£1

£7,105

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

7,000 Ordinary Shares were reclassified to 7,000 'F' Ordinary Shares and then cancelled.

1 'A' Ordinary Share was reclassified to 1 'G' Ordinary Share and then cancelled.

7,000 Ordinary 2 Shares were reclassified to 7,000 Ordinary Shares and then cancelled.

1 'D' Ordinary Share was cancelled.

On 30 April 2025 the following shares were issued for cash at par:

1 H Ordinary Share of £1

1 I Ordinary Share of £1

1 J Ordinary Share of £1