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

REGISTERED NUMBER: 09298236

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Financial Life Planning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms K Shaw

N Kershaw

REGISTERED OFFICE:

12 Greenwood Road

Llandaff

Cardiff

CF5 2QD

REGISTERED NUMBER:

09298236

ACCOUNTANTS:

Norton Accountancy Ltd

7 Soundwell Road

Staple Hill

Bristol

BS16 4QG

FIXED ASSETS

Intangible assets

4

16,271

11,111

Tangible assets

5

57,990

72,946

74,261

84,057

CURRENT ASSETS

Debtors

6

6,650

11,150

Cash at bank

35,245

13,363

41,895

24,513

CREDITORS

Amounts falling due within one year

7

20,409

9,939

NET CURRENT ASSETS

21,486

14,574

TOTAL ASSETS LESS CURRENT LIABILITIES

95,747

98,631

CREDITORS

Amounts falling due after more than one year

8

44,147

51,458

NET ASSETS

51,600

47,173

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,500

47,073

SHAREHOLDERS' FUNDS

51,600

47,173

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2020 and were signed on its behalf by:

Ms K Shaw - Director

1.	STATUTORY INFORMATION

Financial Life Planning Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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 2019, is being amortised evenly over its estimated useful life of three 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.

Plant and machinery etc

-

25% on cost and 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

16,667

Additions

16,073

At 31 March 2020

32,740

AMORTISATION

At 1 April 2019

5,556

Charge for year

10,913

At 31 March 2020

16,469

NET BOOK VALUE

At 31 March 2020

16,271

At 31 March 2019

11,111

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

76,822

DEPRECIATION

At 1 April 2019

3,876

Charge for year

14,956

At 31 March 2020

18,832

NET BOOK VALUE

At 31 March 2020

57,990

At 31 March 2019

72,946

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

6,650

11,150

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

7,311

7,311

Trade creditors

-

(1

)

Taxation and social security

11,986

-

Other creditors

1,112

2,629

20,409

9,939

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

44,147

51,458