The Inheritance Planning Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02477524 (England and Wales)

Financial Statements

for the Year Ended 31st March 2022

for

THE INHERITANCE PLANNING COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R Adams

D Warren

Mrs J Pilcher

REGISTERED OFFICE:

15 Grove Place

Bedford

MK40 3JJ

REGISTERED NUMBER:

02477524 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,638

1,487

CURRENT ASSETS

Debtors

5

83,762

41,807

Cash at bank

8,580

9,672

92,342

51,479

CREDITORS

Amounts falling due within one year

6

89,379

45,188

NET CURRENT ASSETS

2,963

6,291

TOTAL ASSETS LESS CURRENT LIABILITIES

5,601

7,778

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,501

7,678

SHAREHOLDERS' FUNDS

5,601

7,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 1st December 2022 and were signed on its behalf by:

A R Adams - Director

1.	STATUTORY INFORMATION

The Inheritance Planning Company 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.

These financial statements are prepared on the going concern basis as it is the intention of the director to continue supporting the company for the foreseeable future.

Turnover

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

Tangible fixed assets

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

Fixtures, fittings & equipment

-

20% 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.

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 7 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

& equipment

£

COST

At 1st April 2021

11,097

Additions

1,608

At 31st March 2022

12,705

DEPRECIATION

At 1st April 2021

9,610

Charge for year

457

At 31st March 2022

10,067

NET BOOK VALUE

At 31st March 2022

2,638

At 31st March 2021

1,487

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

83,762

41,807

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

2,597

2,419

Corporation tax

3,559

2,557

PAYE & NI

35,732

22,796

Outstanding pension pyts

840

-

VAT

29,478

15,097

Due to clients

16,173

1,319

Accrued accountancy expenses

1,000

1,000

89,379

45,188