REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
ACUMEN BUSINESS SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
ACUMEN BUSINESS SYSTEMS LIMITED |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ACUMEN BUSINESS SYSTEMS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 May 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bank Gallery |
High Street |
Kenilworth |
Warwickshire |
CV8 1LY |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
BALANCE SHEET |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 450 | 450 |
Fair value reserve | 8 | 12,904 | 12,904 |
Retained earnings | 8 | 202,409 | 208,168 |
SHAREHOLDERS' FUNDS | 215,763 | 221,522 |
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. |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
BALANCE SHEET - continued |
31 May 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Acumen Business Systems Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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 |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Disposals | ( | ) | ( | ) | ( | ) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Eliminated on disposal | ( | ) | ( | ) | ( | ) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fair value at 31 May 2024 is represented by: |
£ |
Valuation in 2024 | 185,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2023 | 208,168 | 12,904 | 221,072 |
Profit for the year | 40,016 | 40,016 |
Dividends | (45,775 | ) | (45,775 | ) |
At 31 May 2024 | 202,409 | 12,904 | 215,313 |
9. | RELATED PARTY DISCLOSURES |
At 31 May 2024 other creditors includes loans made to the company by Mr RA Whitehouse (Director) amounting to £1,376 (2023 £1,063) . The loan is interest free with no fixed date for repayment. |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the control of Mr RA Whitehouse (Director). |