Accountum Limited
Accountum Limited
Registered number: 07306110
Unaudited Financial Statements
For The Year Ended
31 March 2022
Accountum Limited
Accountum Limited
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Accountum Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
07306110
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 36,774 | 69,603 | |||
Accountum Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Accountum Limited
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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.
1.5.
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.
1.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2022 | 2021 | ||
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| Office and administration |
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Accountum Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
3.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 259,717 | 252,119 | |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 8,021 | 7,798 | |
| Taxation and social security |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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The bank loan is repayable over 6 years and is interest bearing at 9.4%.
Accountum Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
7.
Obligations Under Finance Leases and Hire Purchase
| 2022 | 2021 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Within one year |
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| Between one and five years |
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9.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | Other | |||
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| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Within 1 year | 25,812 | - | - | - |
| Between 1 and 5 years | - | 60,144 | 29,711 | 27,770 |
| 25,812 | 60,144 | 29,711 | 27,770 | |
10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| Mr Pehr Auren |
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The above loan is unsecured, interest bearing at 3.25% and repayable on demand.
11.
Related Party Transactions
The company paid expenses on behalf of the director and his close family totalling £12,245 (PY £11,594).
12.
General Information
Accountum Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07306110
. The registered office is Sweden House, 5 Upper Montagu Street, London, W1H 2AG.