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

REGISTERED NUMBER: 07751182 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

BBI FINANCIAL PLANNING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A P Wales

D J Skinner

T Poulter

P T French

SECRETARY:

A P Wales

REGISTERED OFFICE:

The Old Court House

191 High Road

South Woodford

London

E18 2QF

REGISTERED NUMBER:

07751182 (England and Wales)

SENIOR STATUTORY AUDITOR:

Shahid Hameed ACA FCCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

2,326

4,277

CURRENT ASSETS

Debtors

5

14,089

13,609

Cash at bank

176,560

250,502

190,649

264,111

CREDITORS

Amounts falling due within one year

6

49,233

133,245

NET CURRENT ASSETS

141,416

130,866

TOTAL ASSETS LESS CURRENT LIABILITIES

143,742

135,143

CAPITAL AND RESERVES

Called up share capital

1,500

1,500

Capital redemption reserve

7

-

75,000

Retained earnings

7

142,242

58,643

SHAREHOLDERS' FUNDS

143,742

135,143

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 8 March 2022 and were signed on its behalf by:

A P Wales - Director

1.	STATUTORY INFORMATION

BBI 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.

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

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

Computer equipment

-

20% on cost

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 7 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2020

and 30 September 2021

9,753

DEPRECIATION

At 1 October 2020

5,476

Charge for year

1,951

At 30 September 2021

7,427

NET BOOK VALUE

At 30 September 2021

2,326

At 30 September 2020

4,277

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

14,089

13,609

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank overdraft

4,055

2,828

Amounts owed to group undertakings

-

78,750

Taxation and social security

10,584

18,214

Other creditors

34,594

33,453

49,233

133,245

7.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2020

58,643

75,000

133,643

Profit for the year

8,599

8,599

Capital Redemption Reserve

transfer

75,000

(75,000

)

-

At 30 September 2021

142,242

-

142,242

During the year, the company passed a special resolution to transfer the capital redemption reserve into the retained earnings.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shahid Hameed ACA FCCA (Senior Statutory Auditor)

for and on behalf of THP Limited

9.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is Berns Brett Limited whose registered office and principal place of business are the same as the company's registered office.