Acumen Solutions Limited - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 04582249 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

ACUMEN SOLUTIONS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Steele

D Steele

A J Boyd

REGISTERED OFFICE:

Long Meadows Main Street

Great Heck

Goole

DN14 0BQ

REGISTERED NUMBER:

04582249 (England and Wales)

ACCOUNTANTS:

B & H Accountancy Limited

Chartered Accountants

10 Elmete Avenue

Roundhay

Leeds

West Yorkshire

LS8 2JX

FIXED ASSETS

Tangible assets

4

80,503

158,878

CURRENT ASSETS

Stocks

2,630

2,513

Debtors

55,237

112,176

Cash at bank

291,920

114,015

349,787

228,704

CREDITORS

Amounts falling due within one year

176,280

133,859

NET CURRENT ASSETS

173,507

94,845

TOTAL ASSETS LESS CURRENT LIABILITIES

254,010

253,723

CREDITORS

Amounts falling due after more than one year

-

(6,934

)

PROVISIONS FOR LIABILITIES

(15,296

)

(30,187

)

NET ASSETS

238,714

216,602

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

238,514

216,402

SHAREHOLDERS' FUNDS

238,714

216,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 14 August 2023 and were signed on its behalf by:

P D Steele - Director

1.	STATUTORY INFORMATION

Acumen Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2021

304,164

Additions

6,175

Disposals

(60,780

)

At 30 November 2022

249,559

DEPRECIATION

At 1 December 2021

145,286

Charge for year

34,955

Eliminated on disposal

(11,185

)

At 30 November 2022

169,056

NET BOOK VALUE

At 30 November 2022

80,503

At 30 November 2021

158,878

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 December 2021

and 30 November 2022

19,300

DEPRECIATION

At 1 December 2021

1,610

Charge for year

4,422

At 30 November 2022

6,032

NET BOOK VALUE

At 30 November 2022

13,268

At 30 November 2021

17,690