Absolute Return Capital Management Limited - Period Ending 2015-03-31

Registration number: 06624422

Absolute Return Capital Management Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Smart Accounting & Tax Solutions LLP
Chartered Accountants
78 High Street
Caterham
Surrey
CR3 5UD

Absolute Return Capital Management Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Absolute Return Capital Management Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Absolute Return Capital Management Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Absolute Return Capital Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Absolute Return Capital Management Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Return Capital Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Absolute Return Capital Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Absolute Return Capital Management Limited. You consider that Absolute Return Capital Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Absolute Return Capital Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Smart Accounting & Tax Solutions LLP
Chartered Accountants
78 High Street
Caterham
Surrey
CR3 5UD

28 December 2015

Page 1

Absolute Return Capital Management Limited
(Registration number: 06624422)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					108,000			161,000
Tangible fixed assets					10,747			14,330
					118,747			175,330
Current assets
Debtors					67,306			-
Creditors: Amounts falling due within one year					(156,918)			(161,147)
Net current liabilities					(89,612)			(161,147)
Net assets					29,135			14,183
Capital and reserves
Called up share capital		3			10,000			10,000
Profit and loss account					19,135			4,183
Shareholders' funds					29,135			14,183

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 29 December 2015

.........................................
Mr M Brittain
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Absolute Return Capital Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The Company is dependent upon the continuing support of the Company's Director.

Turnover

The Company's turnover represents management charges to a connected company together with recharged expenses for the period.

Goodwill

The Company acquired goodwill in 2012 as part of the incorporation of Absolute Return Capital Management LLP. The Directors consider that the goodwill should be amortised over five years on a straight line basis.

Amortisation

The Company undertakes an annual review of the carrying value of the goodwill. Any impairment in the carrying value of the Company's goodwill is charged as amortisation in the period of review.

Asset class	Amortisation method and rate
Goodwill	is amortised on an impairment review basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Other tangible assets - computer equipment	25% reducing balance basis
Furniture, Fixtures and fittings	25% reducing balance basis
Office equipment	25% reducing balance basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Absolute Return Capital Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		270,000			27,175			297,175
At 31 March 2015		270,000			27,175			297,175
Depreciation
At 1 April 2014		109,000			12,845			121,845
Charge for the year		53,000			3,583			56,583
At 31 March 2015		162,000			16,428			178,428
Net book value
At 31 March 2015		108,000			10,747			118,747
At 31 March 2014		161,000			14,330			175,330

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		10,000			10,000			10,000			10,000

Page 4