Scott Financial Limited - Period Ending 2016-04-30

Registration number: 04739970

Scott Financial Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

CRK Accounting Ltd
12A Fleet Business Park Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

Scott Financial Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Scott Financial Limited
(Registration number: 04739970)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					163,855			177,605
Tangible fixed assets					3,983			2,702
					167,838			180,307
Current assets
Debtors					18,427			6,687
Cash at bank and in hand					30,951			16,724
					49,378			23,411
Creditors: Amounts falling due within one year					(38,813)			(42,645)
Net current assets/(liabilities)					10,565			(19,234)
Total assets less current liabilities					178,403			161,073
Provisions for liabilities					(507)			(272)
Net assets					177,896			160,801
Capital and reserves
Called up share capital		3			10			2
Profit and loss account					177,886			160,799
Shareholders' funds					177,896			160,801

For the year ending 30 April 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 January 2017 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Scott Financial Limited
(Registration number: 04739970)
Abbreviated Balance Sheet at 30 April 2016
......... continued

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

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

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

Scott Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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 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 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 3

Scott Financial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... 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 2015		275,000			13,523			288,523
Additions		-			2,609			2,609
At 30 April 2016		275,000			16,132			291,132
Depreciation
At 1 May 2015		97,395			10,821			108,216
Charge for the year		13,750			1,328			15,078
At 30 April 2016		111,145			12,149			123,294
Net book value
At 30 April 2016		163,855			3,983			167,838
At 30 April 2015		177,605			2,702			180,307

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		10			10			2			2

New shares allotted

During the year 8 Ordinary having an aggregate nominal value of £1 were allotted for an aggregate consideration of £8.

Page 4