Moffatt Financial Planning Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03638891 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Moffatt Financial Planning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P Rowbottom

J Smith

SECRETARY:

A P Rowbottom

REGISTERED OFFICE:

Parkway 2

Parkway Business Centre

Princess Road

Manchester

M14 7LU

REGISTERED NUMBER:

03638891 (England and Wales)

ACCOUNTANTS:

M J Leahy

47 Vicars Road

Chorlton-cum-Hardy

Manchester

M21 9JB

FIXED ASSETS

Intangible assets

4

28,000

32,000

Tangible assets

5

17,072

16,403

45,072

48,403

CURRENT ASSETS

Debtors

6

15,099

1,919

Investments

7

45,000

45,000

Cash at bank

164,230

151,007

224,329

197,926

CREDITORS

Amounts falling due within one year

8

55,846

55,229

NET CURRENT ASSETS

168,483

142,697

TOTAL ASSETS LESS CURRENT LIABILITIES

213,555

191,100

PROVISIONS FOR LIABILITIES

3,169

3,116

NET ASSETS

210,386

187,984

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Capital redemption reserve

(38,143

)

(38,143

)

Retained earnings

238,529

216,127

SHAREHOLDERS' FUNDS

210,386

187,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 21 May 2020 and were signed on its behalf by:

A P Rowbottom - Director

J Smith - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers.

Goodwill

Positive goodwill is capitalised,classified as an asset on the balance sheet and amortised on a straight line basis

over its useful economic life.It is reviewed for impairment at the end of its first full financial year following the

acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not

be recoverable.

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 each asset over its estimated useful

life.

Computer equipment - 25% on reducing balance

Fixtures and fittings - 33% on reducing balance

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 8 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

80,000

AMORTISATION

At 1 April 2019

48,000

Amortisation for year

4,000

At 31 March 2020

52,000

NET BOOK VALUE

At 31 March 2020

28,000

At 31 March 2019

32,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

Equipment

Totals

£

£

£

COST

At 1 April 2019

10,768

38,049

48,817

Additions

-

8,431

8,431

At 31 March 2020

10,768

46,480

57,248

DEPRECIATION

At 1 April 2019

4,575

27,839

32,414

Charge for year

1,549

6,213

7,762

At 31 March 2020

6,124

34,052

40,176

NET BOOK VALUE

At 31 March 2020

4,644

12,428

17,072

At 31 March 2019

6,193

10,210

16,403

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

15,099

1,919

7.	CURRENT ASSET INVESTMENTS

31.3.20

31.3.19

£

£

Investment

45,000

45,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

1

1

Corporation Tax

47,624

51,426

Accrued expenses

8,221

3,802

55,846

55,229

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the called up share capital.