Assured Management Group Limited SC358261 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is management consultancy Digita Accounts Production Advanced 6.30.9574.0 true true SC358261 2023-05-01 2024-04-30 SC358261 2024-04-30 SC358261 bus:CompanySecretaryDirector1 1 2024-04-30 SC358261 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC358261 core:ShareCapital 2024-04-30 SC358261 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 SC358261 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 SC358261 core:CurrentFinancialInstruments 2024-04-30 SC358261 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC358261 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC358261 core:FurnitureFittingsToolsEquipment 2024-04-30 SC358261 core:MotorVehicles 2024-04-30 SC358261 bus:SmallEntities 2023-05-01 2024-04-30 SC358261 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC358261 bus:FilletedAccounts 2023-05-01 2024-04-30 SC358261 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC358261 bus:RegisteredOffice 2023-05-01 2024-04-30 SC358261 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 SC358261 bus:CompanySecretaryDirector1 1 2023-05-01 2024-04-30 SC358261 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC358261 bus:Agent1 2023-05-01 2024-04-30 SC358261 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 SC358261 core:ShareCapital 2023-05-01 2024-04-30 SC358261 core:FurnitureFittings 2023-05-01 2024-04-30 SC358261 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC358261 core:MotorVehicles 2023-05-01 2024-04-30 SC358261 core:OfficeEquipment 2023-05-01 2024-04-30 SC358261 countries:Scotland 2023-05-01 2024-04-30 SC358261 2023-04-30 SC358261 bus:CompanySecretaryDirector1 1 2023-04-30 SC358261 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC358261 core:ShareCapital 2023-04-30 SC358261 core:FurnitureFittingsToolsEquipment 2023-04-30 SC358261 core:MotorVehicles 2023-04-30 SC358261 2022-05-01 2023-04-30 SC358261 2023-04-30 SC358261 bus:CompanySecretaryDirector1 1 2023-04-30 SC358261 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 SC358261 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 SC358261 core:CurrentFinancialInstruments 2023-04-30 SC358261 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC358261 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC358261 core:FurnitureFittingsToolsEquipment 2023-04-30 SC358261 core:MotorVehicles 2023-04-30 SC358261 bus:CompanySecretaryDirector1 1 2022-05-01 2023-04-30 SC358261 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 SC358261 core:ShareCapital 2022-05-01 2023-04-30 SC358261 2022-04-30 SC358261 bus:CompanySecretaryDirector1 1 2022-04-30 SC358261 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC358261 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure

Registration number: SC358261

Assured Management Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Assured Management Group Limited

Contents

Company Information

1

Statement of Director's Responsibilities

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Assured Management Group Limited

Company Information

Director

Mr Craig George Somerville

Company secretary

Mr Craig George Somerville

Registered office




Registration number

31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

SC358261 (Scotland)

Accountants

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

 

Assured Management Group Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Assured Management Group Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Assured Management Group Limited for the year ended 30 April 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Assured Management Group Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that Assured Management Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Assured Management Group Limited. You consider that Assured Management Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Assured Management Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

3 September 2024

 

Assured Management Group Limited

(Registration number: SC358261)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,370

6,064

Current assets

 

Debtors

6

1,383

200

Cash at bank and in hand

 

29,539

39,048

 

30,922

39,248

Creditors: Amounts falling due within one year

7

(9,361)

(13,442)

Net current assets

 

21,561

25,806

Total assets less current liabilities

 

23,931

31,870

Creditors: Amounts falling due after more than one year

7

-

(2,768)

Provisions for liabilities

9

(275)

(1,152)

Net assets

 

23,656

27,950

Capital and reserves

 

Called up share capital

100

100

Retained earnings

23,556

27,850

Shareholders' funds

 

23,656

27,950

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 September 2024
 

.........................................
Mr Craig George Somerville
Company secretary and director

 

Assured Management Group Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

100

27,850

27,950

Loss for the year

-

(4,294)

(4,294)

At 30 April 2024

100

23,556

23,656

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

100

29,117

29,217

Loss for the year

-

(1,267)

(1,267)

At 30 April 2023

100

27,850

27,950

 

Assured Management Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in Scotland. Its registered office and registration number can be found on the Company Information page.

The principal place of business is:
69 Pettycur Road
Kinghorn
Fife
KY3 9RP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentation currency is sterling.

Revenue recognition

Turnover represents consultancy fees receivable, net of VAT, for services performed during the accounting period.

Tangible assets

Tangible assets are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is provided at rates calculated so as to write off the cost less residual value of each asset over its expected useful life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum on a straight line basis

Office equipment

25% per annum on a straight line basis

Fixtures and fittings

20% per annum on a straight line basis

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Assured Management Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Hire purchase and leasing

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. The capital element of the future payments is treated as a liability. The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 corporation 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Going concern

The financial statements have been prepared on a going concern basis.

Defined contribution pension obligation

The company operates a defined contribution plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. Only the director participated in a scheme during 2023 and 2022.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

 

Assured Management Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Taxation

Tax (credited) / charged in the profit and loss account:

2024

2023

£

£

UK corporation tax (credit) / charge

221

1,541

Deferred tax arising from origination and reversal of timing differences

(877)

(1,481)

Tax (receipt) / expense in the profit and loss account

(656)

60

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 May 2023

11,503

26,207

37,710

Additions

-

922

922

At 30 April 2024

11,503

27,129

38,632

Depreciation

At 1 May 2023

8,714

22,932

31,646

Charge for the year

1,189

3,427

4,616

At 30 April 2024

9,903

26,359

36,262

Carrying amount

At 30 April 2024

1,600

770

2,370

At 30 April 2023

2,789

3,275

6,064

6

Debtors

Current

2024
£

2023
£

Trade debtors

882

-

Prepayments

185

-

Other debtors

316

200

 

1,383

200

Other debtors include a balance due to the company from the director. The loan is interest free and is payable on demand. Further details are provided at note 10.

 

Assured Management Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

2,768

4,746

Taxation and social security

 

3,971

4,340

Accruals and deferred income

 

2,622

4,356

 

9,361

13,442

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

2,768

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

2,768

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,768

4,746

9

Provisions for liabilities

2024

2023

£

£

Deferred tax: accelerated capital allowances

275

1,152

Deferred tax

Balance at 1 May 2023

1,152

Charge / (credit) to P&L during the year

(877)

Balance at 30 April 2024

275

10

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr Craig George Somerville

200

316

(200)

316

 

Assured Management Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Mr Craig George Somerville

-

200

200