Future Perfect Financial Planning (UK) Limited 31/08/2022 iXBRL

Future Perfect Financial Planning (UK) Limited 31/08/2022 iXBRL

FUTURE PERFECT FINANCIAL PLANNING (UK) LIMITED - Company Information

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Company registration number: 05202947
Future Perfect Financial Planning (UK) Limited
Unaudited filleted financial statements
31 August 2022
Future Perfect Financial Planning (UK) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Future Perfect Financial Planning (UK) Limited
Directors and other information
Directors N P Crowe
S A Royle
Secretary N P Crowe
Company number 05202947
Registered office 68 Onslow Gardens
London
N10 3JX
Future Perfect Financial Planning (UK) Limited
Statement of financial position
31 August 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 183 723
_______ _______
183 723
Current assets
Debtors 7 96,965 172,831
Cash at bank and in hand 3,273,780 2,572,956
_______ _______
3,370,745 2,745,787
Creditors: amounts falling due
within one year 8 ( 184,642) ( 193,354)
_______ _______
Net current assets 3,186,103 2,552,433
_______ _______
Total assets less current liabilities 3,186,286 2,553,156
_______ _______
Net assets 3,186,286 2,553,156
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 3,185,286 2,552,156
_______ _______
Shareholders funds 3,186,286 2,553,156
_______ _______
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 December 2022 , and are signed on behalf of the board by:
N P Crowe
Director
Company registration number: 05202947
Future Perfect Financial Planning (UK) Limited
Notes to the financial statements
Year ended 31 August 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 68 Onslow Gardens, London, N10 3JX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Straight line over 3 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2021 and 31 August 2022 80,208 80,208
_______ _______
Amortisation
At 1 September 2021 and 31 August 2022 80,208 80,208
_______ _______
Carrying amount
At 31 August 2022 - -
_______ _______
At 31 August 2021 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2021 13,202 29,141 42,343
Disposals - ( 22,291) ( 22,291)
_______ _______ _______
At 31 August 2022 13,202 6,850 20,052
_______ _______ _______
Depreciation
At 1 September 2021 12,479 29,141 41,620
Charge for the year 540 - 540
Disposals - ( 22,291) ( 22,291)
_______ _______ _______
At 31 August 2022 13,019 6,850 19,869
_______ _______ _______
Carrying amount
At 31 August 2022 183 - 183
_______ _______ _______
At 31 August 2021 723 - 723
_______ _______ _______
7. Debtors
2022 2021
£ £
Other debtors 96,965 172,831
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Corporation tax 182,182 190,894
Other creditors 2,460 2,460
_______ _______
184,642 193,354
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
N P Crowe 79,096 3,087 ( 79,096) 3,087
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
N P Crowe ( 1,524) 79,096 1,524 79,096
_______ _______ _______ _______
10. Controlling party
The reporting entity is wholly owned by Future Perfect Solutions Limited, a company registered in England and Wales, whose address is at 68 Onslow Gardens, London, N10 3JX.