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REGISTERED NUMBER: 03989620 (England and Wales)











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:

R A Whitehouse







SECRETARY:

R A Whitehouse







REGISTERED OFFICE:

Bank Gallery


High Street


Kenilworth


Warwickshire


CV8 1LY







REGISTERED NUMBER:

03989620 (England and Wales)







ACCOUNTANTS:

Bernard Rogers & Co


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

185,000


185,000



185,000


185,000




CURRENT ASSETS

Debtors

6

4,894


13,657



Cash at bank

66,079


56,783



70,973


70,440



CREDITORS

Amounts falling due within one year

7

37,183


30,891



NET CURRENT ASSETS

33,790


39,549



TOTAL ASSETS LESS CURRENT

LIABILITIES

218,790


224,549




PROVISIONS FOR LIABILITIES

3,027


3,027



NET ASSETS

215,763


221,522




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 company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.


ACUMEN BUSINESS SYSTEMS LIMITED (REGISTERED NUMBER: 03989620)



BALANCE SHEET - continued

31 May 2024



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 Statement of Income and Retained Earnings has not been delivered.  


The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:






R A Whitehouse - Director



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 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 as modified by the revaluation of certain assets.    



Turnover


Turnover represents net invoiced sales of goods and services, excluding value added tax.



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

-

25% on cost


Office equipment

-

25% on cost



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 2 (2023 - 2 ) .


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

991


21,241


22,232




Disposals

(176

)

(11,160

)

(11,336

)



At 31 May 2024

815


10,081


10,896




DEPRECIATION


At 1 June 2023

991


21,241


22,232




Eliminated on disposal

(176

)

(11,160

)

(11,336

)



At 31 May 2024

815


10,081


10,896




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

185,000




NET BOOK VALUE


At 31 May 2024

185,000




At 31 May 2023

185,000





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

2,185


12,008




Other debtors

2,709


1,649



4,894


13,657




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

-


170




Taxation and social security

16,181


13,529




Other creditors

21,002


17,192



37,183


30,891




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).