Peter Hancock Financial Planning Limited - Period Ending 2015-08-31

Registration number: 06652408

Peter Hancock Financial Planning Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

Peter Hancock Financial Planning Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Peter Hancock Financial Planning Limited
(Registration number: 06652408)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					567			182
Current assets
Debtors					8,580			7,666
Cash at bank and in hand					3,602			4,943
					12,182			12,609
Creditors: Amounts falling due within one year					(11,711)			(12,177)
Net current assets					471			432
Net assets					1,038			614
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					938			514
Shareholders' funds					1,038			614

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 20 April 2016

.........................................
P G Hancock
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Peter Hancock Financial Planning Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents commissions receivable from customers during the year from the provision of financial services

Goodwill

Acquired goodwill is written off in equal annual installments over its estimated useful economic life of five years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows :

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	33.33% Straight line

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Peter Hancock Financial Planning Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2014		15,000			2,824			17,824
Additions		-			850			850
Disposals		-			(2,278)			(2,278)
At 31 August 2015		15,000			1,396			16,396
Depreciation
At 1 September 2014		15,000			2,642			17,642
Charge for the year		-			465			465
Eliminated on disposals		-			(2,278)			(2,278)
At 31 August 2015		15,000			829			15,829
Net book value
At 31 August 2015		-			567			567
At 31 August 2014		-			182			182

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
P G Hancock
Loan with Interest charged at the ruling HMRC rate	20,986	14,440	6,086	6,086

Page 3

Peter Hancock Financial Planning Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

5

Control

The company is controlled by Mr and Mrs P G Hancock own 100% of the issued share capital .

Page 4