Acumen Accountants and Advisors Limited - Accounts to registrar (filleted) - small 18.2
Acumen Accountants and Advisors Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| FOR |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| BALANCE SHEET |
| 31 October 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2019 |
| 1. | STATUTORY INFORMATION |
| Acumen Accountants and Advisors Limited is a |
| 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 for the year ended 31 October 2017 are the first set of financial statements that comply with FRS |
| 102. The date of transition is 1 November 2015. |
| The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously, this has |
| not impacted on opening equity or profit for the comparative period. |
| Goodwill |
| Goodwill, being the excess of the consideration paid over the fair value of assets acquired on the acquisition of the business, |
| has in previous years been written off over its estimated useful life of twenty years. |
| The goodwill created at the management buy out on 1 January 2010, has an estimated useful life of 10 years, and this |
| goodwill is being written off over this period. |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The |
| effect of any change is accounted for prospectively. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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. |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets purchased under hire purchase contracts are capitalised in the balance sheet and depreciated over their useful lives. |
| Interest is charged to the profit and loss account on a straight line basis over the period of the contract. Payments in respect |
| of operating leases are charges to the profit and loss account when they occur. |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| AMORTISATION |
| At 1 November 2018 |
| Amortisation for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2018 |
| Additions |
| At 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Debtors - Amount due under contracts - not yet invoiced |
321,950 |
377,750 |
| Amounts owed by group undertakings | - | 9,027 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |