12 Advisors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04811958 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

12 ADVISORS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr F E A Robyns

SECRETARY:

Mrs. K. M. Robyns

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

04811958 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

4,597

2,502

Investments

5

1

1

4,598

2,503

CURRENT ASSETS

Stocks

1,724,746

2,224,746

Debtors

791,342

391,377

Cash at bank and in hand

263,152

11,366

2,779,240

2,627,489

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

347,689

381,566

NET CURRENT ASSETS

2,431,551

2,245,923

TOTAL ASSETS LESS CURRENT LIABILITIES

2,436,149

2,248,426

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,436,147

2,248,424

2,436,149

2,248,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 31 July 2019 and were signed by:

Mr F E A Robyns - Director

1.	STATUTORY INFORMATION

12 Advisors 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents net invoiced sales of goods and commission received, excluding value added tax.

Financial Reporting Standard 5 Application Note G has been adopted in order to recognize the turnover of the

sale of goods i.e. turnover on the sale of goods is only recorded when the full title of the goods has been passed

to the buyer. Any deposits received are being recorded as payments on account in creditors. Commission

income from real estate activities is recognized on exchange of contracts.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write

off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following

basis:

Short leasehold - 10% per annum on cost

Fixtures and equipment - 25% per annum on reducing balance basis

Computer equipment - 25% per annum on reducing balance basis

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the

date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

Operating leases commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain

with the lessor are charged to profit and loss account as incurred.

Pension commitments

The company operates a defined contribution pension scheme administrated by Scottish Widows, for the

director and senior employees. The assets of the scheme are held separately from those of the company in an

independently administered fund.

Fixed asset investments

Fixed asset investments are held at cost less amounts provided for permanent diminution in value. The

carrying values of fixed asset investment are reviewed for impairment where events or changes in circumstance

indicate the carrying value may not be recoverable.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses

arising from impairment are recognised in the profit and loss account

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

45,710

Additions

3,627

At 31 October 2018

49,337

DEPRECIATION

At 1 November 2017

43,208

Charge for year

1,532

At 31 October 2018

44,740

NET BOOK VALUE

At 31 October 2018

4,597

At 31 October 2017

2,502

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 November 2017

and 31 October 2018

1

NET BOOK VALUE

At 31 October 2018

1

At 31 October 2017

1

At the balance sheet date the company owned a 1% share in the Napier Investment Business Partnership, a

Scottish investment partnership controlled by the director.

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2018 and

31 October 2017:

2018

2017

£

£

Mr F E A Robyns

Balance outstanding at start of year

(90

)

(46

)

Amounts advanced

403,481

31,456

Amounts repaid

-

(31,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

403,391

(90

)