JFD Financial Planning Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 11407698 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2023

for

JFD Financial Planning Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G C Donnellan

Mrs D E Donnellan

REGISTERED OFFICE:

74 Childwall Valley Road

Liverpool

L16 4PF

REGISTERED NUMBER:

11407698 (England and Wales)

ACCOUNTANTS:

N J Grindrod & Co Limited

First Floor

Sovereign House

Barehill Street

Littleborough

Lancashire

OL15 9BL

FIXED ASSETS

Intangible assets

4

79,441

118,875

Tangible assets

5

1,073

751

80,514

119,626

CURRENT ASSETS

Cash at bank

47,666

153,356

CREDITORS

Amounts falling due within one year

27,592

191,538

NET CURRENT ASSETS/(LIABILITIES)

20,074

(38,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100,588

81,444

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

100,488

81,344

SHAREHOLDERS' FUNDS

100,588

81,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 May 2023 and were signed on its behalf by:

Mr G C Donnellan - Director

1.	STATUTORY INFORMATION

JFD Financial Planning Ltd 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.

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 2020, is being amortised evenly over its estimated useful life of four 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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2022

and 30 April 2023

157,735

AMORTISATION

At 1 May 2022

38,860

Amortisation for year

39,434

At 30 April 2023

78,294

NET BOOK VALUE

At 30 April 2023

79,441

At 30 April 2022

118,875

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2022

2,421

Additions

1,018

At 30 April 2023

3,439

DEPRECIATION

At 1 May 2022

1,670

Charge for year

696

At 30 April 2023

2,366

NET BOOK VALUE

At 30 April 2023

1,073

At 30 April 2022

751

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G C Donnellan.