REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JUNE 2019 TO 5 APRIL 2020 |
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FOR |
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ASPINALL FINANCIAL MANAGEMENT LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JUNE 2019 TO 5 APRIL 2020 |
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FOR |
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ASPINALL FINANCIAL MANAGEMENT LIMITED |
ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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ASPINALL FINANCIAL MANAGEMENT LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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REPORT OF THE DIRECTORS |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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The directors present their report with the financial statements of the company for the period 1 June 2019 to 5 April 2020. |
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REPORTING PERIOD EXTENSION |
The current reporting period end was extended from 31 May 2019 to 5 April 2020 in order to bring the reporting period in line with the rest of the group. As a result of this change we acknowledge that the figures in the comparative period are not entirely comparable to those in the current period. |
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UNAUDITED COMPARATIVES |
The figures from the prior year were not audited as the company did not require a statutory audit under the Companies Act 2006. |
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DIRECTORS |
The directors who have held office during the period from 1 June 2019 to the date of this report are as follows: |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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INCOME STATEMENT |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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Period | Period |
1.6.19 | 6.4.18 |
to | to |
5.4.20 | 31.5.19 |
£ | £ |
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TURNOVER |
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OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL PERIOD |
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ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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BALANCE SHEET |
5 APRIL 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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1. | STATUTORY INFORMATION |
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Aspinall Financial Management Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
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Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered the impact of the COVID-19 outbreak and the measures taken to contain it on the company and whilst the ultimate impact cannot currently be quantified, given the nature of the company's activities the directors do not believe that the impact will be significant. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Goodwill |
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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. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2019 - NIL). |
ASPINALL FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: 04903970) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2019 TO 5 APRIL 2020 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 June 2019 |
and 5 April 2020 |
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AMORTISATION |
At 1 June 2019 |
and 5 April 2020 |
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NET BOOK VALUE |
At 5 April 2020 |
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At 31 May 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | 1 | 10,000 | 10,000 |
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7. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of the board of directors of its ultimate parent company HFMC Wealth Holdings Limited. |
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There was a change in ownership of the company during the period, where all the shares in Aspinalls Group Limited, the immediate parent company, were purchased by HFMC Group Holdings Limited, the immediate parent company of Aspinalls Group Limited |