Abacus Wealth Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07553290 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Abacus Wealth Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

N P L Round

REGISTERED OFFICE:

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

REGISTERED NUMBER:

07553290 (England and Wales)

ACCOUNTANTS:

Pride Accountants

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

FIXED ASSETS

Intangible assets

2

1,599,421

231,669

Tangible assets

3

2,954

4,431

1,602,375

236,100

CURRENT ASSETS

Debtors

2,720

2,771

Cash at bank

153,307

195,141

156,027

197,912

CREDITORS

Amounts falling due within one year

1,215,873

110,266

NET CURRENT (LIABILITIES)/ASSETS

(1,059,846

)

87,646

TOTAL ASSETS LESS CURRENT
LIABILITIES

542,529

323,746

CREDITORS

Amounts falling due after more than one
year

464,915

215,430

NET ASSETS

77,614

108,316

CAPITAL AND RESERVES

Called up share capital

4

103

Profit and loss account

77,511

108,213

SHAREHOLDERS' FUNDS

77,614

108,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 November 2016 and were signed by:

N P L Round - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

352,679

Additions

1,438,288

At 31 March 2016

1,790,967

AMORTISATION

At 1 April 2015

121,010

Amortisation for year

70,536

At 31 March 2016

191,546

NET BOOK VALUE

At 31 March 2016

1,599,421

At 31 March 2015

231,669

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

8,604

DEPRECIATION

At 1 April 2015

4,173

Charge for year

1,477

At 31 March 2016

5,650

NET BOOK VALUE

At 31 March 2016

2,954

At 31 March 2015

4,431

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

3

Ordinary 'Non Voting' shares

£1

3

103