Choiceplan (Bucks) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08311624 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

CHOICEPLAN (BUCKS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

N Spicer

P F Quigley

Registered office:

3 Danebrook Court

Langford Lane

Kidlington

Oxfordshire

OX5 1LQ

Business address:

10 Market Square

Bicester

Oxfordshire

OX26 6AG

Registered number:

08311624 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

3 Danebrook Court

Langford Lane

Kidlington

Oxfordshire

OX5 1LQ

Fixed assets

Tangible assets

4

66,049

20,916

Current assets

Debtors

5

315,531

298,461

Cash at bank and in hand

206,986

277,322

522,517

575,783

Creditors

Amounts falling due within one year

6

218,602

235,014

Net current assets

303,915

340,769

Total assets less current liabilities

369,964

361,685

Provisions for liabilities

2,024

776

Net assets

367,940

360,909

Capital and reserves

Called up share capital

7

10

10

Share premium

42,497

42,497

Retained earnings

325,433

318,402

Shareholders' funds

367,940

360,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 27 September 2023 and were signed on its behalf by:

P F Quigley - Director

1.	Statutory information

Choiceplan (Bucks) 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.

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.

The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

Turnover

Turnover represents amounts receivable for services net of vat and discounts.

Tangible fixed assets

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

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the foreseeable future.

3.	Employees and directors

The average number of employees during the year was 9 (2021 - 3 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2022

75,000

Additions

58,991

At 31 December 2022

133,991

Depreciation

At 1 January 2022

54,084

Charge for year

13,858

At 31 December 2022

67,942

Net book value

At 31 December 2022

66,049

At 31 December 2021

20,916

5.

Debtors: amounts falling due within one year

31/12/22

31/12/21

£

£

Trade debtors

28,920

7,720

Other debtors

286,611

290,741

315,531

298,461

6.

Creditors: amounts falling due within one year

31/12/22

31/12/21

£

£

Bank loans and overdrafts

40,156

46,373

Trade creditors

37,131

2,583

Taxation and social security

138,516

142,385

Other creditors

2,799

43,673

218,602

235,014

7.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

31/12/22

31/12/21

value:

£

£

10

Ordinary shares

£1

10

10

8.	Other financial commitments

The company is committed to expenditure relating to the lease of offices, which at 31 December 2022 amounted to £25,000 (2021 - £41,800)

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

31/12/22

31/12/21

£

£

N Spicer

Balance outstanding at start of year

89,662

-

Amounts advanced

85,834

107,355

Amounts repaid

(91,000

)

(17,693

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

84,496

89,662

P F Quigley

Balance outstanding at start of year

56,741

-

Amounts advanced

37,051

59,096

Amounts repaid

(39,000

)

(2,355

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

54,792

56,741

10.	Related party disclosures

Included in other debtors is a loan of £nil (2021 - £40,874 from S & Q (Oxford) Limited, a company of which N V Spicer and P F Quigley are directors.

Included in other debtors is a loan of £95,754 (2021 - £91,008) to Greatscheme Limited, a company of which N V Spicer and P F Quigley are directors.