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 2014

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 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

4,580

4,284

Current assets

Debtors

13,318

15,414

Cash at bank and in hand

25,336

29,960

38,654

45,374

Creditors: amounts falling due within one year

(40,320)

(23,155)

Net current (liabilities)/assets

(1,666)

22,219

Total assets less current liabilities

2,914

26,503

Provisions for liabilities

(916)

(897)

1,998

25,606

Capital and reserves

Called up share capital

Profit and loss account

1,996

25,605

Shareholders' funds

1,998

25,606

For the financial year ended 31 August 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 24 November 2014

L Hughes

Director

Company Registration No. 06989375

LH FINANCIAL PLANNING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

- 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 2013

10,939

Additions

3,851

At 31 August 2014

14,790

Depreciation

At 1 September 2013

6,654

Charge for the year

3,556

At 31 August 2014

10,210

Net book value

At 31 August 2014

4,580

At 31 August 2013

4,284

LH FINANCIAL PLANNING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary shares of £1 each

1 Ordinary A shares of £1 each

One ordinary A share was issued during the year.

Control

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

Related party transactions

Included in other creditors is £9320 (2013: £1,137) representing amounts due to the director, L Hughes. This amount is interest free and repayable on demand.

During the year, L Hughes received dividends of £41,500 (2013: £65,000).

During the year the company received income of £232,510 (2013: £270,624) 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 £11,891 (2013: £13,910) and this amount is included in debtors.