Ferguson Financial Management Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC209790 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

FERGUSON FINANCIAL MANAGEMENT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

M D Ferguson

AS McCormick

SECRETARY:

AS McCormick

REGISTERED OFFICE:

16 Royal Terrace

Glasgow

Strathclyde

G3 7NY

REGISTERED NUMBER:

SC209790 (Scotland)

ACCOUNTANTS:

K M Stewart & Company

7 Royal Crescent

Glasgow

G3 7SL

BANKERS:

The Royal Bank of Scotland plc

St Enoch Square Branch

22 St Enoch Square

Glasgow

G1 4DA

FIXED ASSETS

Tangible assets

2

859

1,146

CURRENT ASSETS

Debtors

342

-

Cash at bank and in hand

90,753

110,523

91,095

110,523

CREDITORS

Amounts falling due within one year

33,879

30,080

NET CURRENT ASSETS

57,216

80,443

TOTAL ASSETS LESS CURRENT
LIABILITIES

58,075

81,589

CAPITAL AND RESERVES

Called up share capital

3

100

Share premium

9,900

Profit and loss account

48,075

71,589

SHAREHOLDERS' FUNDS

58,075

81,589

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

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

The directors acknowledge their 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 Board of Directors on 17 January 2017 and were signed on its behalf by:

M D Ferguson - 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).

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

balance sheet date.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

7,618

DEPRECIATION

At 1 November 2015

6,472

Charge for year

287

At 31 October 2016

6,759

NET BOOK VALUE

At 31 October 2016

859

At 31 October 2015

1,146

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

100

Ordinary Shares

£1.00

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year payments totalling £7,920.00 were paid to RT Properties Ltd for rent. Andrew McCormick is a

director of this company.

During the year payments totalling £8,640.00 were paid to Davidson & Workman for accountancy and

professional fees. Andrew McCormick is a partner in this business.

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M D Ferguson.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ferguson Financial Management Limited for the year ended 31 October 2016 which comprise the

Profit and Loss Account, the Balance Sheet, and the related notes 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Ferguson Financial Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ferguson Financial Management Limited and state those matters that we have agreed to state to the Board of Directors of Ferguson Financial Management Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ferguson Financial Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ferguson Financial Management Limited. You consider that Ferguson 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 financial statements of Ferguson 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 financial statements.

K M Stewart & Company

7 Royal Crescent

Glasgow

G3 7SL

17 January 2017