Seasons Personal Funeral Plans Limited - Accounts to registrar (filleted) - small 17.3
Seasons Personal Funeral Plans Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st August 2017 |
for |
SEASONS PERSONAL FUNERAL PLANS LIMITED |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Contents of the Financial Statements |
for the Year Ended 31st August 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SEASONS PERSONAL FUNERAL PLANS LIMITED |
Company Information |
for the Year Ended 31st August 2017 |
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 |
31st August 2017 |
31.8.17 | 31.8.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
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 on by: |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Notes to the Financial Statements |
for the Year Ended 31st August 2017 |
1. | STATUTORY INFORMATION |
Seasons Personal Funeral Plans Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with |
FRS 102 Section 1A for small entities. The date of transition is 1 September 2015. The transition to FRS 102 |
Section 1A for small entities has resulted in no changes in accounting policies and no reclassification |
adjustments. |
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. |
Turnover |
Turnover represents the value of marketing and administration services provided to the Trust during the year, |
excluding value added tax. |
Going concern |
The company has net current liabilities of £15,131 (2016: £9,871). The ability of the company to continue as a |
going concern is dependant upon the continued support from the directors, Mr M Livesey and Mr C Livesey. |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2017 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Amounts due from the Trust | 1,320 | 1,200 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Other creditors |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.8.17 | 31.8.16 |
value: | £ | £ |
Share capital 1 | 1 | 2 | 2 |
7. | RELATED PARTY DISCLOSURES |
Seasons Personal Funeral Plans Trust |
During the year, the Company entered into transactions with the Trust. The nature of the relationship with the |
Trust is set out in the accounting policies. Amounts may only be paid out of the Trust in accordance with the |
Trust's Deed. |
31.8.17 | 31.8.16 |
£ | £ |
Amount due from related party at the balance sheet date | 1,320 | 1,200 |
SEASONS PERSONAL FUNERAL PLANS LIMITED (REGISTERED NUMBER: 06680021) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2017 |
7. | RELATED PARTY DISCLOSURES - continued |
B Livesey Limited |
A company controlled by the directors. |
During the year the company received funds from B Livesey Limited £8,075 (2016: £3,709) to help with its |
working capital requirements. |
31.8.17 | 31.8.16 |
£ | £ |
Amount due to related party at the balance sheet date | 22,282 | 14,208 |
8. | ULTIMATE CONTROLLING PARTY |
Mr C Livesey and Mr M Livesey have control of the company by virtue of owning 100% of the share capital. |