REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 February 2023 to 31 July 2024 |
for |
Abbot Associates Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 February 2023 to 31 July 2024 |
for |
Abbot Associates Limited |
Abbot Associates Limited (Registered number: 03873772) |
Contents of the Financial Statements |
for the Period 1 February 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Abbot Associates Limited |
Company Information |
for the Period 1 February 2023 to 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Abbot Associates Limited (Registered number: 03873772) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Abbot Associates Limited (Registered number: 03873772) |
Balance Sheet - continued |
31 July 2024 |
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 were approved by the Board of Directors and authorised for issue on |
Abbot Associates Limited (Registered number: 03873772) |
Notes to the Financial Statements |
for the Period 1 February 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
Abbot Associates Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Related party exemption |
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. |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales tax, returns, rebates and discounts. |
Commissions received relating to insurance advice are recognised in the profit and loss account on an earned basis according to the inception date of the policies to which they relate. |
Commissions received relating to investments advice are recognised in the profit and loss account on an earned basis according to the date the investment was made. |
Fee based income for investment work on behalf of the client is recognised as services are provided. |
Tangible fixed assets |
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures, fittings and equipment | - 20% on cost |
Abbot Associates Limited (Registered number: 03873772) |
Notes to the Financial Statements - continued |
for the Period 1 February 2023 to 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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 period was |
Abbot Associates Limited (Registered number: 03873772) |
Notes to the Financial Statements - continued |
for the Period 1 February 2023 to 31 July 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
and |
equipment |
£ |
COST |
At 1 February 2023 |
Disposals | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.1.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.1.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
Abbot Associates Limited (Registered number: 03873772) |
Notes to the Financial Statements - continued |
for the Period 1 February 2023 to 31 July 2024 |
7. | PENSION COMMITMENTS |
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £Nil (2023 - £5,550) were payable to the fund at the reporting date. |
8. | OFF BALANCE SHEET COMMITMENTS |
At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £Nil (2023 - £10,200). |
9. | RELATED PARTY DISCLOSURES |
Loans to related parties |
Key management |
Total |
2024 | £ | £ |
At start of period | - | - |
Advanced | 9,568 | 9,568 |
Repaid | (9,568 | ) | (9,568 | ) |
At end of period | - | - |
The loans to key management are interest free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The company's immediate and ultimate parent undertaking is Abbot Associates Holdings Limited, incorporated in England and Wales. These financial statements are available upon request from The Court Annex, The Green, Parkway, Bristol, England, BS34 8PD. |