Acumen Accountants and Advisors Limited - Abbreviated accounts 16.3
Acumen Accountants and Advisors Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| FOR |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 October 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| ABBREVIATED BALANCE SHEET |
| 31 October 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Capital redemption reserve |
| Profit and loss account | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 October 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain |
| assets and are in accordance with applicable accounting standards. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
| company. |
| Goodwill |
| Goodwill, being the excess of the consideration paid over the fair value of assets acquired on the acquisition of the business, |
| has in previous years been written off over its estimated useful life of twenty years. |
| The goodwill created at the management buy out on 1 January 2010, has an estimated useful life of 10 years, and this |
| goodwill is being written off over this period. |
| The goodwill on the acquisition of Tillicoultry has now been fully written off. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stock |
| Stock is valued at cost after making due allowance for obsolete and slow moving items. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different |
| from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences |
| which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply |
| when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment |
| to sell the asset. |
| Deferred tax assets and liabilities are not discounted. |
| 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. |
| Hire purchase and leasing commitments |
| Assets purchased under hire purchase contracts are capitalised in the balance sheet and depreciated over their useful lives. |
| Interest is charged to the profit and loss account on a straight line basis over the period of the contract. Payments in respect |
| of operating leases are charges to the profit and loss account when they occur. |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 October 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2015 |
| Disposals | ( |
) |
| At 31 October 2016 |
| AMORTISATION |
| At 1 November 2015 |
| Amortisation for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2016 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2016 |
| DEPRECIATION |
| At 1 November 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2016 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 November 2015 |
| and 31 October 2016 | 1 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| ACUMEN ACCOUNTANTS AND ADVISORS |
| LIMITED (REGISTERED NUMBER: SC153885) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 October 2016 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary £1 | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (32,212 | ) | (50,696 | ) |
| Profit/(loss) for the year/period | 18,484 | (1,441 | ) |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary Shares | 1 |
| 6. | ULTIMATE PARENT COMPANY |
| The company considers MM Accountants Limited to be its ultimate parent company. |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At 31 October 2016 there is a director's loan balance due from Ross Murray of £2,533 (2015: £-7,773). |
| The loan is interest free and has been repaid within 9 months of the year end. |