Ark Financial Planning Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04975240 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Ark Financial Planning Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

Directors:

Mr P G Perry

Mr P D Stevenson

Registered office:

Unit 12

Gatehead Business Park

Delph New Road

Delph

Oldham

Lancs

OL3 5DE

Registered number:

04975240 (England and Wales)

Accountants:

Allen Mills Howard & Co

Chartered Certified Accountants

Library Chambers

48 Union Street

Hyde

Cheshire

SK14 1ND

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ark Financial Planning Limited for the year ended 31 March 2020 which comprise the Statement

of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Ark Financial Planning Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ark Financial Planning Limited and state those matters that we have agreed to state to the Board of Directors of Ark Financial Planning Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ark Financial Planning Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ark Financial Planning Limited. You consider that Ark Financial Planning Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ark Financial Planning Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Allen Mills Howard & Co

Chartered Certified Accountants

Library Chambers

48 Union Street

Hyde

Cheshire

SK14 1ND

30 April 2020

Fixed assets

Tangible assets

4

13,953

10,207

Current assets

Debtors

5

17,210

14,166

Investments

6

19,707

20,787

Cash at bank

22,200

12,581

59,117

47,534

Creditors

Amounts falling due within one year

7

39,331

32,127

Net current assets

19,786

15,407

Total assets less current liabilities

33,739

25,614

Provisions for liabilities

2,651

1,940

Net assets

31,088

23,674

Capital and reserves

Called up share capital

8

22

22

Retained earnings

31,066

23,652

Shareholders' funds

31,088

23,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 30 April 2020 and were signed on its behalf by:

Mr P G Perry - Director

Mr P D Stevenson - Director

1.	Statutory information

Ark Financial Planning 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents the total invoice value of fees and commissions receivable in respect of the year and derives

from the provision of goods falling within the company's ordinary activities.

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

Computer equipment

-

20% on reducing balance

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.

3.	Employees and directors

The average number of employees during the year was 8 (2019 - 8 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2019

5,516

28,992

34,508

Additions

-

7,077

7,077

At 31 March 2020

5,516

36,069

41,585

Depreciation

At 1 April 2019

2,992

21,309

24,301

Charge for year

379

2,952

3,331

At 31 March 2020

3,371

24,261

27,632

Net book value

At 31 March 2020

2,145

11,808

13,953

At 31 March 2019

2,524

7,683

10,207

5.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

17,210

13,844

Other debtors

-

322

17,210

14,166

6.	Current asset investments

2020

2019

£

£

Listed investments

19,707

20,787

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Taxation and social security

28,053

28,230

Other creditors

11,278

3,897

39,331

32,127

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

NIL

Ordinary

£1

-

20

NIL

Ordinary A

£1

-

1

NIL

Ordinary B

£1

-

1

80

Ordinary 10p

10p

8

-

10

Ordinary A 10p

10p

1

-

10

Ordinary B 10p

10p

1

-

20

Ordinary C 10p

10p

2

-

30

Ordinary D 10p

10p

3

-

10

Ordinary E 10p

10p

1

-

10

Ordinary F 10p

10p

1

-

10

Ordinary G 10p

10p

1

-

10

Ordinary H 10p

10p

1

-

30

Ordinary I 10p

10p

3

-

22

22