Accountants Financial Services (Scotland - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC181750 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

ACCOUNTANTS FINANCIAL SERVICES

(SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Evans

P E Scarff

REGISTERED OFFICE:

25 Blythswood Square

Glasgow

G2 4BL

REGISTERED NUMBER:

SC181750 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 411 Baltic Chambers

50 Wellington Street

Glasgow

Strathclyde

G2 6HJ

FIXED ASSETS

Tangible assets

4

10,438

4,706

CURRENT ASSETS

Debtors

5

217,962

129,958

Cash at bank and in hand

202,677

95,577

420,639

225,535

CREDITORS

Amounts falling due within one year

6

130,445

111,925

NET CURRENT ASSETS

290,194

113,610

TOTAL ASSETS LESS CURRENT LIABILITIES

300,632

118,316

PROVISIONS FOR LIABILITIES

1,632

386

NET ASSETS

299,000

117,930

CAPITAL AND RESERVES

Called up share capital

2,460

2,460

Share premium

73,235

73,235

Capital redemption reserve

(575

)

(575

)

Retained earnings

223,880

42,810

SHAREHOLDERS' FUNDS

299,000

117,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 16 October 2017 and were signed on its behalf by:

P E Scarff - Director

1.	STATUTORY INFORMATION

Accountants Financial Services (Scotland) Limited 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.

In accordance with their responsibility as directors, the directors have considered the appropriateness of

the going concern basis for the preparation of the financial statements.

Turnover

Turnover represents gross commission and/or fees receivable in respect of financial advice given and

financial agreements made for clients.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% 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 balance sheet date.

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.

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

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

62,513

189,900

252,413

Additions

1,669

9,530

11,199

At 31 March 2017

64,182

199,430

263,612

DEPRECIATION

At 1 April 2016

62,380

185,327

247,707

Charge for year

475

4,992

5,467

At 31 March 2017

62,855

190,319

253,174

NET BOOK VALUE

At 31 March 2017

1,327

9,111

10,438

At 31 March 2016

133

4,573

4,706

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Group Balances receivable

216,137

127,162

AFS Financial Planners Ltd

182

43

Directors' current accounts

512

512

Prepayments

1,131

2,241

217,962

129,958

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Credit card

487

-

Tax

71,426

43,131

Social security and other taxes

50,343

57,446

Commission Payable

-

1,800

Accrued expenses

8,189

9,548

130,445

111,925

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.17

31.3.16

£

£

Within one year

41,473

82,944

Between one and five years

68,616

103,062

110,089

186,006

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

P E Scarff

Balance outstanding at start of year

512

512

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

512

512