Scott Financial Limited - Period Ending 2015-04-30

Registration number: 04739970

Scott Financial Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

CRK Accounting Ltd
Suite 4 Crown House
High Street
Harltey Wintney
Hampshire
RG27 8NW

Scott Financial Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Scott Financial Limited
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Scott Financial Limited for the year ended 30 April 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Scott Financial 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 Scott Financial Limited . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott Financial Limited and its Board of Directors as a body for our work or for this report.

We have not been instructed to carry out an audit or a review of the accounts of Scott Financial Limitedand therefore do not express any opinion on the statutory accounts.

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

CRK Accounting Ltd
Suite 4 Crown House
High Street
Harltey Wintney
Hampshire
RG27 8NW

11 January 2016

Page 1

Scott Financial Limited
(Registration number: 04739970)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					177,605			191,355
Tangible fixed assets					2,702			3,514
					180,307			194,869
Current assets
Debtors					6,687			4,269
Cash at bank and in hand					16,724			7,471
					23,411			11,740
Creditors: Amounts falling due within one year					(42,645)			(127,991)
Net current liabilities					(19,234)			(116,251)
Total assets less current liabilities					161,073			78,618
Provisions for liabilities					(272)			(272)
Net assets					160,801			78,346
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					160,799			78,344
Shareholders' funds					160,801			78,346

For the year ending 30 April 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 directors acknowledge their 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 Board on 11 January 2016 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Scott Financial Limited
(Registration number: 04739970)
Abbreviated Balance Sheet at 30 April 2015
......... continued

.........................................
PD Scott
Director

.........................................
WA Scott
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Scott Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	20 Years Expected Life

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
Computer Equipment	25% Reducing Balance
Fixtures and Fittings	25% Reducing Balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 4

Scott Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		275,000			13,434			288,434
Additions		-			89			89
At 30 April 2015		275,000			13,523			288,523
Depreciation
At 1 May 2014		83,645			9,920			93,565
Charge for the year		13,750			901			14,651
At 30 April 2015		97,395			10,821			108,216
Net book value
At 30 April 2015		177,605			2,702			180,307
At 30 April 2014		191,355			3,514			194,869

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 5