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Cash and cash equivalents

ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED - Company Information

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Registered number: 08416699

ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2021

ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

REGISTERED NUMBER: 08416699

BALANCE SHEET

AS AT 28 FEBRUARY 2021

	28 February	29 February
	2021	2020
Note	£	£


Current assets
Debtors	4	22,843	77,978
Cash at bank and in hand	5	63,283	87,820
		86,126	165,798
Creditors: amounts falling due within one year	6	(31,870)	(83,380)
Total assets less current liabilities		54,256	82,418

Net assets		54,256	82,418

Capital and reserves
Called up share capital, allotted and fully paid	100	100
Profit and loss account	54,156	82,318
	54,256	82,418

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ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

REGISTERED NUMBER: 08416699

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2021

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Paul Bispham

Director

Date: 26 November 2021

The notes on pages 3 to 6 form part of these financial statements.

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ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

1.	General information

Actuarial Regulatory And Tax Advisors Limited is a private limited company, incorporated in England and Wales.
The registered office and principal place of business is 57 Connaught Gardens, London, N10 3LG.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

2.Accounting policies (continued)

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).

Debtors

					28 February	29 February
					2021	2020
					£	£


Trade debtors	7,586	49,217
Other debtors	10,178	13,640
Prepayments and accrued income	5,079	15,121
	22,843	77,978

	Cash at bank and in hand	63,283	87,820

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ACTUARIAL REGULATORY AND TAX ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

Trade creditors	11,234	24,012
Amounts owed to group undertakings	11,906	27,345
Corporation tax	-	1,606
Accruals and deferred income	8,730	30,417
	31,870	83,380

Related party transactions

During the year, fees paid to Directors totalled £7,560 (2020: £7,560).
During the year purchases of £nil (2020: £138) were made from KB Management Services Limited, a company in which Kapil Bhargava is the sole director. At the balance sheet date £nil (2020: £nil) was outstanding to KB Management Services Limited.
During the year purchases of £84,222 (2020: £105,028) were made from Harvey Duckers Consulting Limited, a company in which Harvey Duckers is the sole director. At the balance sheet date £5,423 (2020: £36,903) was outstanding to Harvey Duckers Consulting Limited.

8.	Parent company

The company is a wholly owned subsidiary of Bispham Limited, a company incorporated in England and Wales.

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