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

REGISTERED NUMBER: 09755704 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

CACTUS FINANCIAL PLANNING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B J Ellis

REGISTERED OFFICE:

3 Rodney Road

Cheltenham

Glos.

GL50 1HX

REGISTERED NUMBER:

09755704 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,433

6,105

4,433

6,105

CURRENT ASSETS

Debtors

6

53,497

29,750

Cash in hand

5

115

53,502

29,865

CREDITORS

Amounts falling due within one year

7

52,342

28,144

NET CURRENT ASSETS

1,160

1,721

TOTAL ASSETS LESS CURRENT LIABILITIES

5,593

7,826

CREDITORS

Amounts falling due after more than one year

8

(4,441

)

(6,521

)

PROVISIONS FOR LIABILITIES

(842

)

(1,160

)

NET ASSETS

310

145

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

210

45

SHAREHOLDERS' FUNDS

310

145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 June 2021 and were signed by:

B J Ellis - Director

1.	STATUTORY INFORMATION

Cactus Financial Planning Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

47,500

AMORTISATION

At 1 October 2019

and 30 September 2020

47,500

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2019

2,238

9,948

12,186

Additions

461

843

1,304

At 30 September 2020

2,699

10,791

13,490

DEPRECIATION

At 1 October 2019

1,121

4,960

6,081

Charge for year

559

2,417

2,976

At 30 September 2020

1,680

7,377

9,057

NET BOOK VALUE

At 30 September 2020

1,019

3,414

4,433

At 30 September 2019

1,117

4,988

6,105

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

3,434

-

Other debtors

50,063

29,750

53,497

29,750

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

3,276

4,392

Taxation and social security

22,865

22,551

Other creditors

26,201

1,201

52,342

28,144

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans

4,441

6,521

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

100

Ordinary

£1

90

90

10

Ordinary B

£1

10

10

100

100

During the year, 90 Ordinary issued shares held were redesignated as 90 Ordinary A shares and 10 Ordinary issued shares held were redesignated as 10 Ordinary B shares.

10.

RESERVES

Retained

earnings

£

At 1 October 2019

45

Profit for the year

94,165

Dividends

(94,000

)

At 30 September 2020

210

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

30.9.20

30.9.19

£

£

B J Ellis

Balance outstanding at start of year

29,750

26,158

Amounts advanced

106,347

88,592

Amounts repaid

(94,000

)

(85,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

42,097

29,750

12.	ULTIMATE CONTROLLING PARTY

The controlling party is B J Ellis.