336 Financial Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC404120 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2019

for

336 Financial Management Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Walker

D Young

REGISTERED OFFICE:

Thistle House

21-23 Thistle Street

Edinburgh

EH2 1DF

REGISTERED NUMBER:

SC404120 (Scotland)

ACCOUNTANTS:

Bennett and Co

Chartered Accountants

25 Lanark Road

Edinburgh

EH14 1TG

FIXED ASSETS

Tangible assets

4

8,846

9,473

CURRENT ASSETS

Debtors

5

32,495

21,969

Cash at bank

594,564

388,782

627,059

410,751

CREDITORS

Amounts falling due within one year

6

(137,273

)

(147,331

)

NET CURRENT ASSETS

489,786

263,420

TOTAL ASSETS LESS CURRENT LIABILITIES

498,632

272,893

PROVISIONS FOR LIABILITIES

(1,681

)

-

NET ASSETS

496,951

272,893

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

7

496,651

272,593

SHAREHOLDERS' FUNDS

496,951

272,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 8 March 2019 and were signed on its behalf by:

D Young - Director

E Walker - Director

1.	STATUTORY INFORMATION

336 Financial Management 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 represents income received for providing financial advice.

Tangible fixed assets

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

Office equipment

-

20% 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.

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

Contributions made to individual employees and directors pension schemes are charged to the company's profit

and loss account for the year in which they are payable to the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 February 2018

23,243

Additions

3,909

Disposals

(2,318

)

At 31 January 2019

24,834

DEPRECIATION

At 1 February 2018

13,770

Charge for year

4,483

Eliminated on disposal

(2,265

)

At 31 January 2019

15,988

NET BOOK VALUE

At 31 January 2019

8,846

At 31 January 2018

9,473

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

14,602

17,500

Other debtors

17,893

4,469

32,495

21,969

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Corporation tax

134,569

145,337

Other creditors

2,704

1,994

137,273

147,331

7.

RESERVES

Retained

earnings

£

At 1 February 2018

272,593

Profit for the year

569,058

Dividends

(345,000

)

At 31 January 2019

496,651

8.	OTHER FINANCIAL COMMITMENTS

At 31 January 2019, the company had a financial commitment for office rent and service charge of £9,137

per quarter. This is due to expire in December 2019.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £299,000 were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is D Young.