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REGISTERED NUMBER: 06933352 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ACUMEN CLAIMS LIMITED

ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACUMEN CLAIMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: R Mofidi





SECRETARY: S Mofidi





REGISTERED OFFICE: Pure Offices Ltd
Lake View Drive
Sherwood Park
Annesley
Nottinghamshire
NG15 0DT





REGISTERED NUMBER: 06933352 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 141,739 -
Tangible assets 5 35,485 74,866
177,224 74,866

CURRENT ASSETS
Stocks 28,453 128,715
Debtors 6 1,165,798 1,032,958
Cash at bank 982,009 853,743
2,176,260 2,015,416
CREDITORS
Amounts falling due within one year 7 1,627,035 1,091,112
NET CURRENT ASSETS 549,225 924,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

726,449

999,170

CREDITORS
Amounts falling due after more than one
year

8

(324,809

)

(507,896

)

PROVISIONS FOR LIABILITIES 9 (6,276 ) (2,386 )
NET ASSETS 395,364 488,888

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 395,362 488,886
SHAREHOLDERS' FUNDS 395,364 488,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:



R Mofidi - Director


ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Acumen Claims Limited is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive cash balances and reserves. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Having regard to the above, the director believes that it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Computer software is being amortised at 25% on the reducing balance basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

In respect of work in progress, cost includes a relevant proportion of overheads according to the stage of completion.

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.


ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 106,300
Reclassification/transfer 58,000
At 31 October 2023 164,300
AMORTISATION
Charge for year 11,686
Reclassification/transfer 10,875
At 31 October 2023 22,561
NET BOOK VALUE
At 31 October 2023 141,739

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022 48,913 3,427 68,804 121,144
Additions 17,082 - - 17,082
Reclassification/transfer - - (58,000 ) (58,000 )
At 31 October 2023 65,995 3,427 10,804 80,226
DEPRECIATION
At 1 November 2022 22,696 2,156 21,426 46,278
Charge for year 8,666 508 164 9,338
Reclassification/transfer - - (10,875 ) (10,875 )
At 31 October 2023 31,362 2,664 10,715 44,741
NET BOOK VALUE
At 31 October 2023 34,633 763 89 35,485
At 31 October 2022 26,217 1,271 47,378 74,866

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 733,056 559,342
Other debtors 7,628 582
Prepayments and accrued income 283,686 403,034
1,024,370 962,958

Amounts falling due after more than one year:
Loans Ambience Response 141,428 70,000

Aggregate amounts 1,165,798 1,032,958

ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 177,105 165,581
Trade creditors 527,028 412,029
Corporation tax 26,894 49,796
Social security and other taxes 99,564 41,006
VAT 205,419 69,107
Other creditors 73,477 44,515
Pension Fund 8,581 3,289
Directors' current accounts 82 -
Accruals and deferred income 508,885 305,789
1,627,035 1,091,112

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 2-5 years 324,809 507,896

Other loans relates to amounts received under the Coronavirus Business Interruption Loan Scheme with a fixed interest rate of 14.99% per annum and is to be repaid over 5 years. This loan is guaranteed by the Government.

Included in other loans is also a fixed loan sum of £210,000 with total interest payable of £66,462 from LDF Finance No. 3 Limited. Loan is repayable in installments over 5 years.The loan is secured and guaranteed by the director Mr Reza Mofidi.

Also included in other loans is a loan amount including completion fee of £367,500. Interest is chargeable on the loan at an annual interest rate of 9.40% and repayable in 6 years. The loan is secured by the Government's Recovery Loan Scheme guarantee.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,276 2,386

Deferred
tax
£   
Balance at 1 November 2022 2,386
Provided during year 3,890
Balance at 31 October 2023 6,276

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £22,301 (2022: £16,325). The pension creditor outstanding as at the balance sheet date is £8,581 (2022: £3,289).

ACUMEN CLAIMS LIMITED (REGISTERED NUMBER: 06933352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. RELATED PARTY DISCLOSURES

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.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Acumen Global Partnership Limited.

The director believes that the company has no ultimate controlling party.