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

REGISTERED NUMBER: 07177075 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Burfield Financial Planning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Dando

P M Jenkins

REGISTERED OFFICE:

12 Cheshire Business Park

Cheshire Avenue

Northwich

Cheshire

CW9 7UA

REGISTERED NUMBER:

07177075 (England and Wales)

ACCOUNTANTS:

Pursglove & Brown

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

FIXED ASSETS

Tangible assets

4

22,511

26,483

CURRENT ASSETS

Debtors

5

56,231

79,647

Cash at bank

459,448

353,528

515,679

433,175

CREDITORS

Amounts falling due within one year

6

(91,005

)

(99,400

)

NET CURRENT ASSETS

424,674

333,775

TOTAL ASSETS LESS CURRENT LIABILITIES

447,185

360,258

CREDITORS

Amounts falling due after more than one year

7

(7,854

)

(18,337

)

PROVISIONS FOR LIABILITIES

(4,277

)

(5,032

)

NET ASSETS

435,054

336,889

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

434,554

336,389

SHAREHOLDERS' FUNDS

435,054

336,889

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 27 April 2020 and were signed on its behalf by:

C J Dando - Director

P M Jenkins - Director

1.	STATUTORY INFORMATION

Burfield 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.

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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest

£1.

Turnover

Turnover represents income from fees and commissions receivable.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 15% 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

55,983

DEPRECIATION

At 1 April 2019

29,500

Charge for year

3,972

At 31 March 2020

33,472

NET BOOK VALUE

At 31 March 2020

22,511

At 31 March 2019

26,483

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

56,231

79,647

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

9,308

9,308

Taxation and social security

77,817

84,091

Other creditors

3,880

6,001

91,005

99,400

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

7,854

18,337

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

17,162

27,645