Adcas Financial Management Limited - Period Ending 2016-03-31

Registration number: 04609344

Adcas Financial Management Limited

trading as ADCAS Financial Management Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Beckett Rawcliffe
Chartered Accountants
Beckett House Sovereign Court
Wyrefields Poulton Industrial Estate
Wyrefields
Poulton-Le-Fylde
Lancashire
FY6 8JX

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adcas Financial Management Limited for the year ended 31 March 2016 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 Adcas Financial 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 Adcas Financial 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 Adcas Financial Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Adcas Financial 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 profit of Adcas Financial Management Limited. You consider that Adcas Financial 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 Adcas Financial 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.

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

Beckett Rawcliffe
Chartered Accountants
Beckett House Sovereign Court
Wyrefields Poulton Industrial Estate
Wyrefields
Poulton-Le-Fylde
Lancashire
FY6 8JX

20 April 2016

Page 1

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
(Registration number: 04609344)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					198,467			152,135
Tangible fixed assets					4,383			5,082
Investments					50			62,500
					202,900			219,717
Current assets
Debtors					9,889			10,609
Cash at bank and in hand					43,806			35,506
					53,695			46,115
Creditors: Amounts falling due within one year					(38,966)			(61,735)
Net current assets/(liabilities)					14,729			(15,620)
Net assets					217,629			204,097
Capital and reserves
Called up share capital		3			80			80
Share premium account					100,970			100,970
Profit and loss account					116,579			103,047
Shareholders' funds					217,629			204,097

For the year ending 31 March 2016 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 20 April 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
(Registration number: 04609344)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr Glyn Bentley Hill
Director

.........................................
Mr James Alan Cocker
Director

.........................................
Mr Alastair Marshall Dunn
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

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 calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Amortisation method and rate
Goodwill	Over a 20 year period

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% reducing balance basis
Motor Vehicles	25% reducing balance basis
Equipment	25% reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Page 4

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		259,900			25,247			62,500			347,647
Additions		62,450			762			-			63,212
Disposals		-			-			(62,450)			(62,450)
At 31 March 2016		322,350			26,009			50			348,409
Depreciation
At 1 April 2015		107,765			20,165			-			127,930
Charge for the year		16,118			1,461			-			17,579
At 31 March 2016		123,883			21,626			-			145,509
Net book value
At 31 March 2016		198,467			4,383			50			202,900
At 31 March 2015		152,135			5,082			62,500			219,717

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Rawcliffe Financial Services Ltd	England	Ordinary	50%	Appointed Representative

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		-			-			-			-
Ordinary 'A' shares of £1 each		2			2			2			2
Ordinary 'B' shares of £1 each		28			28			28			28

Page 5

Adcas Financial Management Limited
trading as ADCAS Financial Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Ordinary 'C' shares of £1 each		50			50			50			50
		80			80			80			80

4

Control

The company is controlled by no one individual party. The company is owned as follows: The directors: 37.5% Other related parties: 62.5%


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