LH_FINANCIAL_PLANNING_LTD - Accounts

LH FINANCIAL PLANNING LTD - Company Information

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Company Registration No. 06989375 (England and Wales)

LH FINANCIAL PLANNING LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

LH FINANCIAL PLANNING LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LH FINANCIAL PLANNING LTD

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,657

4,580

Current assets

Debtors

4,168

13,318

Cash at bank and in hand

43,240

25,336

47,408

38,654

Creditors: amounts falling due within one year

(48,103)

(40,320)

Net current liabilities

(695)

(1,666)

Total assets less current liabilities

1,962

2,914

Provisions for liabilities

(385)

(916)

1,577

1,998

Capital and reserves

Called up share capital

Profit and loss account

1,575

1,996

Shareholders' funds

1,577

1,998

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 May 2016

L Hughes

Director

Company Registration No. 06989375

LH FINANCIAL PLANNING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.33% Straight line

Fixed assets

Tangible assets

Cost

At 1 September 2014

14,790

Additions

2,060

At 31 August 2015

16,850

Depreciation

At 1 September 2014

10,211

Charge for the year

3,982

At 31 August 2015

14,193

Net book value

At 31 August 2015

2,657

At 31 August 2014

4,580

LH FINANCIAL PLANNING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary shares of £1 each

1 Ordinary A shares of £1 each

Control

The ultimate controlling party is L Hughes by virtue of her shareholding.

Related party transactions

Included in other debtors is £3,938 (2014 other creditors: £9,320) representing amounts due from the director, L Hughes. This was the maximum amount outstanding during the year and was repaid within 9 months of the year end.

During the year, L Hughes received dividends of £80,000 (2014: £41,500).

During the year the company received income of £339,881 (2014: £232,510) from Unique Wealth Management Ltd of which L Hughes is a director and shareholder.

At the end of the year Unique Wealth Management owed LH Financial Planning Ltd £nil (2014: £11,891) and this amount is included in debtors.