Absolute Return Capital Management Ltd - Period Ending 2019-09-30

Absolute Return Capital Management Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6
Detailed Profit and Loss Account	7 to 8

Absolute Return Capital Management Ltd

Company Information

Director

M Brittain

Registered office

74A Station Road East Oxted Surrey RH8 0PG

Accountants

Smart Accounting & Tax Solutions LLP Chartered Accountants 74A Station Road East Oxted Surrey RH8 0PG

Absolute Return Capital Management Ltd

(Registration number: 06624422)
Balance Sheet as at 30 September 2019

	Note	2019 £	2018 £
Current assets
Debtors	5	150,000	150,000
Creditors: Amounts falling due within one year	6	(154,162)	(153,142)
Net liabilities		(4,162)	(3,142)
Capital and reserves
Called up share capital	7	10,000	10,000
Profit and loss account		(14,162)	(13,142)
Shareholders' deficit		(4,162)	(3,142)

For the financial year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 October 2020
 

.........................................

M Brittain
Director

Absolute Return Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
74A Station Road East
Oxted
Surrey
RH8 0PG

The principal place of business is:
Building 2
Ground Floor
Guildford Business Park
Guildford
GU2 8XG

These financial statements were authorised for issue by the director on 22 October 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises Corporation Tax, based on the Company's taxable profit and chargeable gains. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Absolute Return Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2018	270,000	270,000
At 30 September 2019	270,000	270,000
Amortisation
At 1 October 2018	270,000	270,000
At 30 September 2019	270,000	270,000
Carrying amount
At 30 September 2019	-	-

Absolute Return Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

5

Debtors

	2019 £	2018 £
Other debtors	150,000	150,000
	150,000	150,000

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Other creditors	154,162	153,142

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary Shares of £1 each	10,000	10,000	10,000	10,000

Absolute Return Capital Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

8	Related party transactions

Loans from related parties

2019	Key management £	Total £
At start of period	(131,296)	(131,296)
At end of period	(131,296)	(131,296)

2018	Key management £	Total £
At start of period	(136,985)	(136,985)
Advanced	(1,085)	(1,085)
Repaid	6,774	6,774
At end of period	(131,296)	(131,296)

Absolute Return Capital Management Ltd

Detailed Profit and Loss Account for the Year Ended 30 September 2019

	2019 £	2018 £
Turnover (analysed below)	-	-
Administrative expenses
General administrative expenses (analysed below)	(1,020)	-
Operating loss	(1,020)	-
Loss before tax	(1,020)	-

Absolute Return Capital Management Ltd

Detailed Profit and Loss Account for the Year Ended 30 September 2019

2019 £

2018 £

General administrative expenses
Accountancy fees	1,020	-