Funeral Planning Authority Limited - Limited company accounts 16.1

REGISTERED NUMBER: 04314827 (England and Wales)

FUNERAL PLANNING AUTHORITY LIMITED

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2016

Page

Company Information

1

Report of the Directors

2

to

3

Report of the Independent Auditors

4

to

5

Income and Expenditure Account

6

Balance Sheet

7

Notes to the Financial Statements

8

to

10

DIRECTORS:

M K McCollum

R A Wayte

Mrs A J Close

G S McAusland

B W Floyd

S W H Winfield

SECRETARY:

G S McAusland

REGISTERED OFFICE:

50 Broadway

Westminster

London

SW1H 0BL

REGISTERED NUMBER:

04314827 (England and Wales)

SENIOR STATUTORY AUDITOR:

Neil Cunliffe BSc FCA

AUDITORS:

Gibbons Mannington & Phipps LLP

Statutory

Auditor

Landgate Chambers

24 Landgate

Rye

East Sussex

TN31 7LJ

BANKERS:

Bank of Scotland

Professionals' Accounts Office

3rd Floor

39 Threadneedle Street

LONDON

EC2R 8AU

The directors present their report with the financial statements of the company for the year ended 31st March 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2015 to the date

of this report.

M K McCollum

R A Wayte

Mrs A J Close

G S McAusland

B W Floyd

Other changes in directors holding office are as follows:

A S MacDonald - resigned 4th January 2016

S W H Winfield - appointed 4th January 2016

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in

accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that

law the directors have elected to prepare the financial statements in accordance with United Kingdom

Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied that

they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the

company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and

explain the company's transactions and disclose with reasonable accuracy at any time the financial

position of the company and enable them to ensure that the financial statements comply with the

Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for

taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the

Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the

steps that he or she ought to have taken as a director in order to make himself or herself aware of any

relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

On 1 April 2015, Gibbons Mannington & Phipps transferred their business to Gibbons Mannington &

Phipps LLP, a limited liability partnership incorporated under the Limited Liability Partnership Act 2000.

The Board of Directors consented to treating the appointment of Gibbons Mannington & Phipps as

extending to Gibbons Mannington & Phipps LLP.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

G S McAusland - Director

19th September 2016

We have audited the financial statements of Funeral Planning Authority Limited for the year ended

31st March 2016 on pages six to ten. The financial reporting framework that has been applied in their

preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective January

2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16

of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's

members those matters we are required to state to them in a Report of the Auditors and for no other

purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone

other than the company and the company's members as a body, for our audit work, for this report, or for

the opinions we have formed.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements

sufficient to give reasonable assurance that the financial statements are free from material misstatement,

whether caused by fraud or error. This includes an assessment of: whether the accounting policies are

appropriate to the company's circumstances and have been consistently applied and adequately

disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall

presentation of the financial statements. In addition, we read all the financial and non-financial

information in the Report of the Directors to identify material inconsistencies with the audited financial

statements and to identify any information that is apparently materially incorrect based on, or materially

inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become

aware of any apparent material misstatements or inconsistencies we consider the implications for our

report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2016 and of its surplus for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Directors for the financial year for which the

financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us

to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Neil Cunliffe BSc FCA (Senior Statutory Auditor)

for and on behalf of Gibbons Mannington & Phipps LLP

Statutory

Auditor

Landgate Chambers

24 Landgate

Rye

East Sussex

TN31 7LJ

21st September 2016

TURNOVER

168,989

108,221

Administrative expenses

147,448

126,673

OPERATING SURPLUS/(DEFICIT)

2

21,541

(18,452

)

Interest receivable and similar income

788

1,122

SURPLUS/(DEFICIT) ON ORDINARY ACTIVITIES BEFORE TAXATION

22,329

(17,330

)

Tax on surplus/(deficit) on ordinary activities

3

2,266

(1,066

)

SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR

20,063

(16,264

)

CURRENT ASSETS

Debtors

5

3,388

4,647

Cash at bank

137,932

108,014

141,320

112,661

CREDITORS

Amounts falling due within one year

6

16,039

7,443

NET CURRENT ASSETS

125,281

105,218

TOTAL ASSETS LESS CURRENT LIABILITIES

125,281

105,218

RESERVES

Income and expenditure account

8

125,281

105,218

125,281

105,218

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 19th September 2016 and were signed on its behalf by:

G S McAusland - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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

-

100% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income and expenditure account on a

straight line basis over the period of the lease.

Financial instruments

Financial assets such as cash and debtors are measured at the present value of the amounts

receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such

as trade creditors and finance leases are measured at the present value of the obligation.

2.	OPERATING SURPLUS/(DEFICIT)

The operating surplus (2015 - operating deficit) is stated after charging:

2016

2015

£

£

Depreciation - owned assets

-

1,365

Auditors' remuneration

4,380

2,560

Directors' remuneration and other benefits etc

56,598

57,397

3.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the surplus on ordinary activities for the year was as follows:

2016

2015

£

£

Current tax:

UK corporation tax

2,266

(1,066

)

Tax on surplus/(deficit) on ordinary activities

2,266

(1,066

)

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2015

and 31st March 2016

2,380

DEPRECIATION

At 1st April 2015

and 31st March 2016

2,380

NET BOOK VALUE

At 31st March 2016

-

At 31st March 2015

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

2,100

1,987

Other debtors

1,288

2,660

3,388

4,647

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

517

409

Taxation and social security

10,182

4,087

Other creditors

5,340

2,947

16,039

7,443

7.	OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid within one year:

2016

2015

£

£

Expiring:

Within one year

1,500

1,500

8.

RESERVES

Income

and

expenditure

account

£

At 1st April 2015

105,218

Surplus for the year

20,063

At 31st March 2016

125,281

9.	RELATED PARTY DISCLOSURES

Directors

Some of the directors of the company are also directors of the companies that are Registered

Providers of the funeral plan products from which the company derives its income. All transactions

are carried out at arms length and at normal commercial rates.

10.	COMPANY LIMITED BY GUARANTEE

The company is limited by Guarantee and is governed by its Memorandum and Articles of

Association.