Afiniti Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC202137 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

AFINITI LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A J Carmichael

N Brauer

SECRETARY:

Pinsent Masons Secretarial Limited

REGISTERED OFFICE:

13 Queen's Road

Aberdeen

Aberdeenshire

AB15 4YL

REGISTERED NUMBER:

SC202137 (Scotland)

ACCOUNTANTS:

Camfield Chapman Lowe

9 High Street

Woburn Sands

Milton Keynes

Buckinghamshire

MK17 8RF

BANKERS:

Bank of Scotland

39 Albyn Place

Aberdeen

AB10 1YN

SOLICITORS:

Pinsent Masons LLP

13 Queen's Road

Aberdeen

Aberdeenshire

AB15 4YL

FIXED ASSETS

Tangible assets

4

7,761

25,324

CURRENT ASSETS

Debtors

5

397,153

447,047

Cash at bank

778,447

226,833

1,175,600

673,880

CREDITORS

Amounts falling due within one year

6

481,423

216,128

NET CURRENT ASSETS

694,177

457,752

TOTAL ASSETS LESS CURRENT LIABILITIES

701,938

483,076

CAPITAL AND RESERVES

Called up share capital

887

1,012

Share premium

176,488

236,246

Capital redemption reserve

915

790

Retained earnings

523,648

245,028

SHAREHOLDERS' FUNDS

701,938

483,076

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24th August 2017 and were signed on its behalf by:

A J Carmichael - Director

1.	STATUTORY INFORMATION

Afiniti Limited is a private company, limited by shares , registered in Scotland. The company's registered number

and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

Straight line over the life of the lease

Website development

-

50% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

50% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Revenue recognition

Revenue from professional services is recognised when the service has been provided and all obligations to the

customers under the agreement have been fulfilled. For fixed price projects revenue is recognised on a

percentage of completion basis unless management has doubts as to the recoverability of fees.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Website

and

Computer

property

development

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st January 2016

28,052

75,144

35,976

139,290

278,462

Additions

-

-

1,362

8,805

10,167

At 31st December 2016

28,052

75,144

37,338

148,095

288,629

DEPRECIATION

At 1st January 2016

26,214

55,820

35,827

135,277

253,138

Charge for year

1,838

19,323

328

6,241

27,730

At 31st December 2016

28,052

75,143

36,155

141,518

280,868

NET BOOK VALUE

At 31st December 2016

-

1

1,183

6,577

7,761

At 31st December 2015

1,838

19,324

149

4,013

25,324

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

179,149

266,928

Other debtors

218,004

180,119

397,153

447,047

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

77,639

69,988

Taxation and social security

68,965

45,947

Other creditors

334,819

100,193

481,423

216,128

7.	OTHER FINANCIAL COMMITMENTS

The company has the following total minimum lease payments falling due::

Within 1 year

£50,300

In 1 to 5 years

£49,875

In more than 5 years

£0

8.	RELATED PARTY DISCLOSURES