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Registered number: 06936758
Acume UK Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
R Stride & Co LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06936758
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,730 12,879
9,730 12,879
CURRENT ASSETS
Debtors 5 43,949 49,252
Cash at bank and in hand 27,155 37,714
71,104 86,966
Creditors: Amounts Falling Due Within One Year 6 (34,146 ) (43,967 )
NET CURRENT ASSETS (LIABILITIES) 36,958 42,999
TOTAL ASSETS LESS CURRENT LIABILITIES 46,688 55,878
NET ASSETS 46,688 55,878
CAPITAL AND RESERVES
Called up share capital 7 75 75
Profit and Loss Account 46,613 55,803
SHAREHOLDERS' FUNDS 46,688 55,878
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Illingworth
Director
10th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Acume UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06936758 . The registered office is The Old Coach House Rear Of Eastville Terrace, Ripon Road, Harrogate, North Yorkshire, HG1 3HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 33%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 2,169 33,895 16,442 7,649 60,155
Additions - - - 88 88
As at 31 October 2024 2,169 33,895 16,442 7,737 60,243
Depreciation
As at 1 November 2023 1,393 30,501 12,833 2,549 47,276
Provided during the period 116 849 542 1,730 3,237
As at 31 October 2024 1,509 31,350 13,375 4,279 50,513
Net Book Value
As at 31 October 2024 660 2,545 3,067 3,458 9,730
As at 1 November 2023 776 3,394 3,609 5,100 12,879
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 43,949 47,755
Prepayments and accrued income - 1,497
43,949 49,252
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 236 441
Corporation tax 7,379 14,622
VAT 15,852 15,932
Company credit card 1,237 820
Accruals and deferred income 1,410 2,120
Directors' loan accounts 8,032 10,032
34,146 43,967
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 75 75
Page 4
Page 5
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mrs Janet Illingworth 18,000 18,000
Mr Graham Lee 18,000 18,000
Mr John Illingworth 1,500 1,500
Page 5