Focus Financial Advisory Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC410292 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Focus Financial Advisory Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N R Shelton

REGISTERED OFFICE:

49 Carden Place

Aberdeen

AB10 1UN

REGISTERED NUMBER:

SC410292 (Scotland)

ACCOUNTANTS:

SBP

Accountants

49 Carden Place

Aberdeen

AB10 1UN

FIXED ASSETS

Intangible assets

4

62,787

71,756

Tangible assets

5

389

507

63,176

72,263

CURRENT ASSETS

Debtors

6

5,755

-

Cash at bank

92,016

78,005

97,771

78,005

CREDITORS

Amounts falling due within one year

7

38,101

48,528

NET CURRENT ASSETS

59,670

29,477

TOTAL ASSETS LESS CURRENT LIABILITIES

122,846

101,740

PROVISIONS FOR LIABILITIES

74

-

NET ASSETS

122,772

101,740

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

122,762

101,730

122,772

101,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 October 2017 and were signed by:

Mr N R Shelton - Director

1.	STATUTORY INFORMATION

Focus Financial Advisory Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

33% 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 balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

89,696

AMORTISATION

At 1 April 2016

17,939

Charge for year

8,970

At 31 March 2017

26,909

NET BOOK VALUE

At 31 March 2017

62,787

At 31 March 2016

71,757

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

1,521

Additions

384

At 31 March 2017

1,905

DEPRECIATION

At 1 April 2016

1,014

Charge for year

502

At 31 March 2017

1,516

NET BOOK VALUE

At 31 March 2017

389

At 31 March 2016

507

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts recoverable on contract

5,755

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

-

1

Taxation and social security

14,737

13,636

Other creditors

23,364

34,891

38,101

48,528

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

Mr N R Shelton

Balance outstanding at start of year

(34,041

)

(36,704

)

Amounts advanced

16,353

7,781

Amounts repaid

(4,716

)

(5,118

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(22,404

)

(34,041

)

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,355 (2016 - £30,892) were paid to the director .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N R Shelton.