Aim Financial Consulting Limited - Period Ending 2016-12-31

Registration number: 05325284

Aim Financial Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Aim Financial Consulting Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Aim Financial Consulting Limited

(Registration number: 05325284)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Other financial assets		9,836	9,836
Current assets
Debtors	5	13,200	7,560
Cash at bank and in hand		258,246	232,131
		271,446	239,691
Creditors: Amounts falling due within one year	6	(19,256)	(19,393)
Net current assets		252,190	220,298
Net assets		262,026	230,134
Capital and reserves
Called up share capital		100	100
Profit and loss account		261,926	230,034
Total equity		262,026	230,134

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 May 2017 and signed on its behalf by:
 

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

L T Sargent

Company secretary and director

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

Page 1

Aim Financial Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Glebe House
Sopworth
Wiltshire
SN14 6PS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Page 2

Aim Financial Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2015 - 2).

Page 3

Aim Financial Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2016	2,743	2,743
At 31 December 2016	2,743	2,743
Depreciation
At 1 January 2016	2,743	2,743
At 31 December 2016	2,743	2,743
Carrying amount
At 31 December 2016	-	-

5

Debtors

	2016 £	2015 £
Trade debtors	13,200	7,560
Total current trade and other debtors	13,200	7,560

6

Creditors

	Note	2016 £	2015 £
Due within one year
Taxation and social security		16,479	17,676
Other creditors		2,777	1,717
		19,256	19,393

Page 4

Aim Financial Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7	Related party transactions

Transactions with directors

Dividends paid to directors

	2016 £	2015 £
L T Sargent
Dividends	15,000	29,099

Other transactions with directors

L T Sargent(director) had a loan with the company. At the balance sheet date the amount due to L T Sargent was £2,283 (2015: £1,223)

8	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 5