Acumed Consulting Ltd
|
Registered number: |
07476614
|
Statement of Financial Position |
as at 31 December 2016
|
|
Notes |
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|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
4,652 |
|
|
3,511 |
|
Current assets |
Debtors |
3 |
|
14,676 |
|
|
16,578 |
Cash at bank and in hand |
|
|
40,317 |
|
|
30,947 |
|
|
|
54,993 |
|
|
47,525 |
|
Creditors: amounts falling due within one year |
4 |
|
(45,696) |
|
|
(41,917) |
|
Net current assets |
|
|
|
9,297 |
|
|
5,608 |
|
Net assets |
|
|
|
13,949 |
|
|
9,119 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
13,849 |
|
|
9,019 |
|
Shareholders' funds |
|
|
|
13,949 |
|
|
9,119 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
|
|
|
Mrs Oona Tillotson |
Director |
Approved by the board on 7 April 2017
|
|
Acumed Consulting Ltd
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Notes to the Accounts |
for the year ended 31 December 2016
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|
|
1 |
Accounting policies |
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|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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|
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Transition to FRS 102 |
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The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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|
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
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Plant and machinery |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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|
|
|
2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 January 2016 |
7,983 |
|
Additions |
2,692 |
|
At 31 December 2016 |
10,675 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2016 |
4,472 |
|
Charge for the year |
1,551 |
|
At 31 December 2016 |
6,023 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2016 |
4,652 |
|
At 31 December 2015 |
3,511 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2016 |
|
2015 |
£ |
£ |
|
|
Trade debtors |
14,676 |
|
16,578 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
|
|
Trade creditors |
1,960 |
|
- |
|
Accruals |
1,044 |
|
990 |
|
Directors' current accounts |
1 |
|
1,425 |
|
Corporation tax |
24,387 |
|
29,837 |
|
Other taxes and social security costs |
14,484 |
|
9,665 |
|
Other creditors |
3,820 |
|
- |
|
|
|
|
|
|
45,696 |
|
41,917 |
|
|
|
|
|
|
|
|
|
|
5 |
Related party transactions |
2016 |
|
2015 |
£ |
£ |
|
Mrs Oona Tillotson |
|
Director and 50% shareholder of Acumed Consulting Ltd |
|
Dividends paid |
|
|
|
|
46,887 |
|
82,208 |
|
Amount due from (to) the related party |
(1) |
|
(1,425) |
|
|
Mr Peter Tillotson |
|
Director and 50% shareholder of Acumed Consulting Ltd |
|
Dividends paid |
|
|
|
|
46,887 |
|
82,208 |
|
|
6 |
Other information |
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Acumed Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
269 Farnborough Road |
|
Farnborough |
|
Hampshire |
|
GU14 7LY |
|
7 |
Transition to FRS 102 |
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These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2016. No transitional adjustments were required in equity or profit or loss for the year. |