BBI Financial Planning Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07751182 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 FCA FCCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

346

811

CURRENT ASSETS

Debtors

5

6,378

14,579

Cash at bank

331,710

242,964

338,088

257,543

CREDITORS

Amounts falling due within one year

6

114,354

50,202

NET CURRENT ASSETS

223,734

207,341

TOTAL ASSETS LESS CURRENT LIABILITIES

224,080

208,152

CAPITAL AND RESERVES

Called up share capital

1,500

1,500

Retained earnings

8

222,580

206,652

SHAREHOLDERS' FUNDS

224,080

208,152

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 13 March 2024 and were signed on its behalf by:

P T French - 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.

Operating leases

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2022

7,578

Disposals

(5,252

)

At 30 September 2023

2,326

DEPRECIATION

At 1 October 2022

6,767

Charge for year

465

Eliminated on disposal

(5,252

)

At 30 September 2023

1,980

NET BOOK VALUE

At 30 September 2023

346

At 30 September 2022

811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Prepayments and accrued income

6,378

14,579

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank overdraft

17,231

5,257

Corporation tax

15,856

15,527

Social security and other taxes

23,969

13,572

Other creditors

1,667

1,796

Accrued expenses

55,631

14,050

114,354

50,202

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

25,200

-

Between one and five years

100,800

-

126,000

-

Operating leases relate to company's business premises.

8.

RESERVES

Retained

earnings

£

At 1 October 2022

206,652

Profit for the year

15,928

At 30 September 2023

222,580

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

The Report of the Auditors was unqualified.

Shahid Hameed FCA FCCA (Senior Statutory Auditor)

for and on behalf of THP Limited

10.	ULTIMATE CONTROLLING PARTY

During the year the parent company Berns Brett Limited disposed its entire shareholding in the Company. As a result there is no ultimate controlling party.