Abacus Wealth Services Limited - Accounts to registrar (filleted) - small 18.1
Abacus Wealth Services Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2018 |
| for |
| Abacus Wealth Services Limited |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Abacus Wealth Services Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Polymer Court |
| Hope Street |
| Dudley |
| West Midlands |
| DY2 8RS |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Balance Sheet - continued |
| 31 March 2018 |
| 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 |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Abacus Wealth Services Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 2013, is being amortized |
| evenly over its estimated useful life of five years. |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortized |
| 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 |
| Office equipment | - |
| 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. |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| AMORTISATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Office |
| equipment |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other creditors |
| 9. | SECURED DEBTS |
| St James's Place Plc hold a personal guarantee from Mr N P L Round, director, in respect of the outstanding loan |
| facilities. Metro Bank Plc hold a debenture dated 12 May 2016 including a fixed and floating charge over the |
| undertaking and all property and assets present and future including goodwill, capital and plant. |
| Abacus Wealth Services Limited (Registered number: 07553290) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 392 | 394 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Provided during year | ( |
) |
| Balance at 31 March 2018 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of its director Mr N P L Round as he owns the majority of the issued share |
| capital. |