BBI Financial Planning Limited - Accounts to registrar (filleted) - small 18.2
BBI Financial Planning Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| FOR |
| BBI FINANCIAL PLANNING LIMITED |
| BBI FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07751182) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BBI FINANCIAL PLANNING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| 34-40 High Street |
| Wanstead |
| London |
| E11 2RJ |
| BBI FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07751182) |
| BALANCE SHEET |
| 30 SEPTEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Capital redemption reserve | 8 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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 |
| BBI FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07751182) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| BBI Financial Planning Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Turnover represents the total value of the net advisory and administrative fees receivable. General commission income and administrative fees due are recognised when received from the provider. |
| Tangible fixed assets |
| Computer equipment | - |
| 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 |
| BBI FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07751182) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 October 2019 |
| Additions |
| At 30 September 2020 |
| DEPRECIATION |
| At 1 October 2019 |
| Charge for year |
| At 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank overdraft |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 1,500 | 1,500 |
| 5% Redeemable preference |
| shares | £1 | - | 75,000 |
| 1,500 | 76,500 |
| The ordinary shares have full voting, dividends and capital distribution rights. |
| Redeemable preference shares were redeemed by the company with one month notice at par. On liquidation of the company the redeemable preference shares ranked in preference to any distribution made on the ordinary shares. The redeemable preference shares were not entitled to any other capital distribution. The redeemable preference shares did not carry any votes at any ordinary, extraordinary, or special resolution of the company.The redeemable preference shares carried the entitlement to a 5% coupon per annum, calculated on an annual basis. |
| The redeemable preference shares were redeemed at par during the year. |
| BBI FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07751182) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| 8. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2019 | 108,474 |
| Profit for the year |
| Purchase of own shares | (75,000 | ) | 75,000 | - |
| At 30 September 2020 | 133,643 |
| Subsequent to the year end, the company passed a special resolution to transfer the capital redemption reserve into distributable profit and loss reserve. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is a subsidiary of Berns Brett Limited whose registered office and principal place of business are the same as the company's registered office. |