Seasons Personal Funeral Plans Limited - Accounts to registrar (filleted) - small 23.2.5
Seasons Personal Funeral Plans Limited - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th April 2023 |
for |
SEASONS PERSONAL FUNERAL PLANS LIMITED |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Contents of the Financial Statements |
for the Year Ended 30th April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SEASONS PERSONAL FUNERAL PLANS LIMITED |
Company Information |
for the Year Ended 30th April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Balance Sheet |
30th April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Notes to the Financial Statements |
for the Year Ended 30th April 2023 |
1. | STATUTORY INFORMATION |
Seasons Personal Funeral Plans Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
A summary of the principal accounting policies, which have been applied consistently throughout the year is set out below: |
Pre-arranged funeral plans |
Trust plans |
The Company markets and sells pre-arranged funeral plans, monies received from selling funeral plans being held and controlled by an independent pre-arranged funeral plans trust ('the Trust'). The responsibilities for the ultimate performance of funerals is allocated to funeral directors, who are selected by the beneficiary of the plan. |
The Company receives monies from the Trust in respect of the following transactions: |
- A marketing and administration fee in respect of each plan sold. The marketing element is only refundable in the event that the plan is subsequently cancelled. A provision is made for cancellations based on historical experiences, where material, to cover the estimated marketing element refundable in the Trust. Marketing and administration fees are included in Company revenue when the plan is sold less the provision for refunds arising on cancellation, and |
- Further contributions are also received from the Trust in return for the provision of general ongoing administrative services supplied to the Trust. These contributions are included in Company revenue for the period to which they relate. |
All costs in respect of the marketing and administration of the pre-arranged funeral plans are expensed in the Company income statements as incurred. |
From time to time, the Company may receive monies from the Trust, in line with the Trust's deed, which have been assessed by the trustees as not required to ensure the Trust has sufficient assets to meet its future liabilities in respect of current members ('Recoveries'). All Recoveries are recognised as other operating income in the period to which the trustees approve payment. |
Revenue recognition |
Revenue represents the value of marketing and administration services provided to the Trust during the year. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102 to all its financial instruments. |
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument. |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Amounts due from the Trust | - | 3,330 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 30.4.23 | 30.4.22 |
value: | £ | £ |
Share capital 1 | 1 | 2 | 2 |
8. | RELATED PARTY DISCLOSURES |
At 30 April 2023 the company owed to B Livesey Ltd £13,782 (2022: 23,446). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan. During the year £10,714 was written off the loan, the directors consider this amount to be unrecoverable (2022: £Nil). |
9. | ULTIMATE CONTROLLING PARTY |
Mr C Livesey and Mr M Livesey have control of the company by virtue of owning 100% of the share capital. |