abacus IFA Limited

abacus IFA Limited

ABACUS IFA LIMITED - Company Information

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1 April 2019 false No description of principal activity Taxfiler 2020.8.1 05810874business:PrivateLimitedCompanyLtd2019-04-012020-03-31 058108742019-03-31 058108742019-04-012020-03-31 05810874business:AuditExemptWithAccountantsReport2019-04-012020-03-31 05810874business:FullAccounts2019-04-012020-03-31 058108742020-03-31 05810874business:Director12019-04-012020-03-31 05810874business:RegisteredOffice2019-04-012020-03-31 058108742019-03-31 05810874core:WithinOneYear2020-03-31 05810874core:WithinOneYear2019-03-31 05810874core:AfterOneYear2020-03-31 05810874core:AfterOneYear2019-03-31 05810874core:ShareCapital2020-03-31 05810874core:ShareCapital2019-03-31 05810874core:RetainedEarningsAccumulatedLosses2020-03-31 05810874core:RetainedEarningsAccumulatedLosses2019-03-31 05810874business:SmallEntities2019-04-012020-03-31 05810874countries:EnglandWales2019-04-012020-03-31 05810874core:PlantMachinery2019-04-012020-03-31 05810874core:Goodwill2019-03-31 05810874core:Goodwill2020-03-31 05810874core:Goodwill2019-04-012020-03-31 05810874core:PlantMachinery2019-03-31 05810874core:PlantMachinery2020-03-31 058108742018-04-012019-03-31 iso4217:GBP xbrli:pure
Company Registration No. 05810874 (England and Wales)
abacus IFA Limited Unaudited accounts for the year ended 31 March 2020
abacus IFA Limited Unaudited accounts Contents
Page
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abacus IFA Limited Company Information for the year ended 31 March 2020
Director
Neil Richmond
Company Number
05810874 (England and Wales)
Registered Office
3a Blue Sky Way Monkton Business Park South Hebburn NE31 2EQ United Kingdom
Accountants
D C Smallbone & Co 3a Blue Sky Way Monkton Business Park South Hebburn Tyne and Wear NE31 2EQ
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abacus IFA Limited Statement of financial position as at 31 March 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
6,992 
8,392 
Tangible assets
5
1,078 
520 
8,070 
8,912 
Current assets
Debtors
6
114,527 
138,277 
Cash at bank and in hand
3,536 
5,451 
118,063 
143,728 
Creditors: amounts falling due within one year
7
(60,200)
(91,177)
Net current assets
57,863 
52,551 
Total assets less current liabilities
65,933 
61,463 
Creditors: amounts falling due after more than one year
8
(45,224)
(35,000)
Provisions for liabilities
Deferred tax
(205)
(99)
Net assets
20,504 
26,364 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
10,504 
16,364 
Shareholders' funds
20,504 
26,364 
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 May 2020 and were signed on its behalf by
Neil Richmond Director Company Registration No. 05810874
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abacus IFA Limited Notes to the Accounts for the year ended 31 March 2020
1
Statutory information
abacus IFA Limited is a private company, limited by shares, registered in England and Wales, registration number 05810874. The registered office is 3a Blue Sky Way, Monkton Business Park South, Hebburn, NE31 2EQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2019
13,992 
At 31 March 2020
13,992 
Amortisation
At 1 April 2019
5,600 
Charge for the year
1,400 
At 31 March 2020
7,000 
Net book value
At 31 March 2020
6,992 
At 31 March 2019
8,392 
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abacus IFA Limited Notes to the Accounts for the year ended 31 March 2020
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2019
3,551 
Additions
739 
At 31 March 2020
4,290 
Depreciation
At 1 April 2019
3,031 
Charge for the year
181 
At 31 March 2020
3,212 
Net book value
At 31 March 2020
1,078 
At 31 March 2019
520 
6
Debtors
2020 
2019 
£ 
£ 
Trade debtors
19,788 
19,760 
Other debtors
94,739 
118,517 
114,527 
138,277 
7
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
26,748 
41,049 
Trade creditors
558 
2,900 
Taxes and social security
32,894 
47,128 
Other creditors
- 
100 
60,200 
91,177 
8
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
45,224 
35,000 
9
Average number of employees
During the year the average number of employees was 4 (2019: 4).
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