Absolute Return Investment Advisers (ARIA) Limited - Period Ending 2021-03-31
Absolute Return Investment Advisers (ARIA) Limited - Period Ending 2021-03-31
Registration number:
Absolute Return Investment Advisers (ARIA) Limited
trading as
for the Year Ended 31 March 2021
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Contents
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Strategic Report for the Year Ended 31 March 2021
The directors present their strategic report for the year ended 31 March 2021.
Principal activity
The principal activity of the company is the provision of investment advisory services
Fair review of the business
The Company made a pre-tax loss of £95,357 compared to a profit of £121,775 in 2020 and had net assets of £1,246,806 at the balance sheet date [2020 : £1,331,438].
The Directors consider this to be a satisfactory outcome for the year given the Company's focus on establishing UCITS V fund structures, as well as continued development of the wealth management platform. The Directors consider the Company is well placed to take advantage of changes in the global financial services industry.
Principal risks and uncertainties
The Directors have undergone a thorough analysis of the risks inherent in the Company’s activities. The analysis identified the likelihood of the event occurring as well as the magnitude of the impact on the Company should the event occur. The Directors considered the level of control exercised by the Company to manage the risk that the event occurs, as well as identifying the persons to manage the risk and those persons to supervise and monitor the risk.
The main risk that the Directors identified was from the disintermediation of the Financial Services industry and its increasingly global nature, given historically much of the client business has been intermediated by professional advisers. The Directors consider that the Company’s size and the ability to react rapidly to changing market and industry conditions marks a considerable strength as well as presenting opportunities.
The Company also minimises this risk whenever possible through diversification and broadening of its service proposition. To this end, the Company has developed more ‘direct-to-client’ services, and sought to develop other business streams in corporate & fund services, which will further diversify the Company's revenues.
Approved by the
.........................................
Director
.........................................
Director
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Directors' Report for the Year Ended 31 March 2021
The directors present their report and the financial statements for the year ended 31 March 2021.
Directors of the company
The directors who held office during the year were as follows:
Financial performance
Objectives and policies
The main financial performance indicator is driven by assets under management, custody and advice.The Company has recently added UK private client permissions and in doing so is in the process of onboarding over 1400 new clients to the UK private client associated company, bringing an additional £100m of assets to manage.
Furthermore, the Company is in the process of setting up a new MIFID 2 licence in Europe which will likely accelerate assets under management in the coming months. In doing so, the Company has recruited to strengthen its advice team in the UK as the paraplanning function grows to support a more technology led global advice standard. The Company has new fund launches in the pipeline, as well as continuing to develop its platform technology which will see the launch of a new Direct to Consumer online advice solution in the near future.
The Company has also entered into joint venture arrangements with intermediaries in Singapore, Hong Kong, Malta, Switzerland and the Benelux area, so that the Company has a global presence through a network of associated companies.
Internationally, a securitisation platform, a growing corporate and fiduciary service and the launch of new institutional funds, means revenue growth to this Company and its associates.
The value of funds under management is an indicator of the performance of individual portfolios and the underlying funds and these are regularly reviewed against industry standards.
Price risk, credit risk, liquidity risk and cash flow risk
The Company's Pillar 3 disclosures can be found on its website on www.ariacm.com.
Political donations
During the year the company did not make any political donations [2020 £nil].
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Directors' Report for the Year Ended 31 March 2021
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Warrener Stewart Chartered Accountants as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved by the
.........................................
Director
.........................................
Director
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Independent Auditor's Report to the Members of Absolute Return Investment Advisers (ARIA) Limited
Opinion
We have audited the financial statements of Absolute Return Investment Advisers (ARIA) Limited (the 'company') for the year ended 31 March 2021, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2021 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Independent Auditor's Report to the Members of Absolute Return Investment Advisers (ARIA) Limited
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Independent Auditor's Report to the Members of Absolute Return Investment Advisers (ARIA) Limited
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our assessment of the susceptibility of the entity's financial statements is considered to be low. We reached this conclusion after consideration of the following:
• Because of the regulated nature of the business, there are strong controls in place and adequate high level monitoring such that any unexpected items would be identified and enquired into by management; and
• Management decisions are closely overseen and monitored at Group level indicating that the likelihood of any single individual being in a position to override controls to effect fraud is low.
We designed our audit procedures to respond to identified risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below:
• The review of control accounts and journal entries for large, unusual or unauthorised entries;
• The analytical review of the detailed profit and loss account for unexpected variances or items that fell outside our understanding of the business;
• Obtaining and reviewing a list of connected persons and entities and reviewing ledgers for undisclosed related party transactions; and
• Reviewing compliance with the rules and guidelines set out by the Financial Conduct Authority.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more the compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring because of fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Independent Auditor's Report to the Members of Absolute Return Investment Advisers (ARIA) Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Harwood House
43 Harwood Road
SW6 4QP
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Profit and Loss Account for the Year Ended 31 March 2021
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Note |
2021 |
2020 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating (loss)/profit |
(28,650) |
149,785 |
|
|
Interest payable and similar expenses |
( |
( |
|
|
(Loss)/profit before tax |
( |
|
|
|
Tax on (loss)/profit |
|
( |
|
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
(Registration number: 07091239)
Balance Sheet as at 31 March 2021
|
Note |
2021 |
2020 |
|
|
Fixed assets |
|||
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Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
73,636 |
73,636 |
|
|
Profit and loss account |
1,173,170 |
1,257,802 |
|
|
Shareholders' funds |
1,246,806 |
1,331,438 |
Approved and authorised by the
.........................................
Director
.........................................
Director
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Statement of Changes in Equity for the Year Ended 31 March 2021
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2020 |
|
|
|
|
Loss for the year |
- |
( |
( |
|
Total comprehensive income |
- |
( |
( |
|
Dividends |
- |
( |
( |
|
At 31 March 2021 |
|
|
|
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2019 |
|
|
|
|
Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 March 2020 |
|
|
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Statement of Cash Flows for the Year Ended 31 March 2021
|
Note |
2021 |
2020 |
|
|
Cash flows from operating activities |
|||
|
(Loss)/profit for the year |
( |
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Loss on disposal of tangible assets |
- |
|
|
|
Finance costs |
|
|
|
|
Income tax expense |
( |
|
|
|
( |
|
||
|
Working capital adjustments |
|||
|
Decrease in trade debtors |
|
|
|
|
(Decrease)/increase in trade creditors |
( |
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
- |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
- |
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payment of long term creditors |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 April |
|
|
|
|
Cash and cash equivalents at 31 March |
321,557 |
224,509 |
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of investment management services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
Tax
The corporation tax expense for the period comprises current tax.
The current 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Computer equipment |
4 years straight line |
|
Fixtures and fittings |
5 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Judgements in applying accoutning polices and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that year or in the year of revision and future years if the revision affects both current and future years.
Management considers the key estimates and judgements made in the financial statements to be related to:
A. Valuation of the shares, securities and other assets held by the Company's investment funds which determine the Company's management and performance fees receivable.
B. The timing of commissions and fees receivable from the Company's investment funds.
C. The company has also included commissions receivable by the Company which are payable to the firm's introducers as income and associated costs during the year. Under these agreements the Company considers it is acting as principal with an agent to pay the introducer rather than as the introducers' agent.
|
Revenue |
The analysis of the company's revenue for the year from continuing operations is as follows:
|
2021 |
2020 |
|
|
Rendering of services |
|
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
The analysis of the company's turnover for the year by market is as follows:
|
2021 |
2020 |
|
|
UK |
|
|
|
Rest of world |
|
|
|
|
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2021 |
2020 |
|
|
Gain (loss) on disposal of property, plant and equipment |
- |
( |
|
Operating (loss)/profit |
Arrived at after charging/(crediting)
|
2021 |
2020 |
|
|
Depreciation expense |
|
|
|
Loss on disposal of property, plant and equipment |
- |
|
|
Interest payable and similar expenses |
|
2021 |
2020 |
|
|
Interest expense on other finance liabilities |
|
|
|
Foreign exchange (gains) / losses |
|
|
|
|
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2021 |
2020 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2021 |
2020 |
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2021 |
2020 |
|
|
Remuneration |
- |
|
|
Auditors' remuneration |
|
2021 |
2020 |
|
|
Audit of the financial statements |
|
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Taxation |
Tax charged/(credited) in the income statement
|
2021 |
2020 |
|
|
Current taxation |
||
|
UK corporation tax |
( |
|
|
UK corporation tax adjustment to prior periods |
|
- |
|
(12,125) |
28,256 |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2020 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2021 |
2020 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Increase in UK and foreign current tax from adjustment for prior periods |
|
- |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Total tax (credit)/charge |
( |
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Tangible assets |
|
Short leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Total |
|
|
Cost or valuation |
|||||
|
At 1 April 2020 |
|
|
|
|
|
|
Additions |
- |
- |
- |
|
|
|
Disposals |
- |
- |
( |
- |
( |
|
At 31 March 2021 |
|
|
- |
|
|
|
Depreciation |
|||||
|
At 1 April 2020 |
|
|
|
|
|
|
Charge for the year |
|
|
- |
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
|
At 31 March 2021 |
|
|
- |
|
|
|
Carrying amount |
|||||
|
At 31 March 2021 |
- |
|
- |
|
|
|
At 31 March 2020 |
|
|
- |
|
|
Included within the net book value of land and buildings above is £ (2020 - £14,844) in respect of short leasehold land and buildings.
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Debtors |
|
2021 |
2020 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Accrued income |
|
|
|
|
|
|
|
Less non-current portion |
( |
( |
|
|
|
Details of non-current trade and other debtors
£2,569,841 (2020 -£2,680,370) of other debtors is classified as non current.
|
Cash and cash equivalents |
|
2021 |
2020 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Creditors |
|
Note |
2021 |
2020 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Income tax liability |
77,910 |
90,035 |
|
|
|
|
||
|
Due after one year |
|||
|
Other non-current financial liabilities |
|
|
Absolute Return Investment Advisers (ARIA) Limited
trading as ARIA Capital Management
Notes to the Financial Statements for the Year Ended 31 March 2021
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
2021 |
2020 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
73,636 |
|
73,636 |
|
Dividends |
Interim dividends paid
|
2021 |
2020 |
|||
|
Interim dividend on |
|
|
||
|
Related party transactions |
Key management personnel
During the year the company purchased services from other business in which the director has an involvement.
Expenditure with and payables to related parties
|
2021 |
Key management |
|
Rendering of services |
|
|
2020 |
Key management |
|
Rendering of services |
|