Target Planning Financial Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07145495 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

TARGET PLANNING FINANCIAL SERVICES

LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr M Bell

Mrs R E Bell

REGISTERED OFFICE:

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

REGISTERED NUMBER:

07145495 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

FIXED ASSETS

Intangible assets

4

163,334

186,667

Tangible assets

5

2,625

1,207

Investments

6

50,000

50,000

215,959

237,874

CURRENT ASSETS

Debtors

7

80,999

52,573

Cash at bank

44,488

33,525

125,487

86,098

CREDITORS

Amounts falling due within one year

8

72,417

74,432

NET CURRENT ASSETS

53,070

11,666

TOTAL ASSETS LESS CURRENT LIABILITIES

269,029

249,540

PROVISIONS FOR LIABILITIES

499

182

NET ASSETS

268,530

249,358

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

268,430

249,258

SHAREHOLDERS' FUNDS

268,530

249,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 16 August 2018 and were signed on its behalf by:

Mr M Bell - Director

1.	STATUTORY INFORMATION

Target Planning Financial Services 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents commissions receivable.

Goodwill

Goodwill is being amortised in equal instalments over a period of 15 years, which the directors

consider to be its useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2017

and 28 February 2018

350,000

AMORTISATION

At 1 March 2017

163,333

Charge for year

23,333

At 28 February 2018

186,666

NET BOOK VALUE

At 28 February 2018

163,334

At 28 February 2017

186,667

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2017

225

1,743

1,968

Additions

-

2,546

2,546

At 28 February 2018

225

4,289

4,514

DEPRECIATION

At 1 March 2017

169

592

761

Charge for year

56

1,072

1,128

At 28 February 2018

225

1,664

1,889

NET BOOK VALUE

At 28 February 2018

-

2,625

2,625

At 28 February 2017

56

1,151

1,207

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2017

and 28 February 2018

50,000

NET BOOK VALUE

At 28 February 2018

50,000

At 28 February 2017

50,000

The current value of the investment included above is not materially different to its cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

28,151

32,476

Other debtors

52,848

20,097

80,999

52,573

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade creditors

13,621

20,248

Tax

53,696

49,264

Accruals and deferred income

5,100

4,920

72,417

74,432