REGISTERED NUMBER: 06933352 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

ACUMEN CLAIMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Mofidi

SECRETARY:

Ms. S Mofidi

REGISTERED OFFICE:

Pure Offices Ltd Lake View Drive

Sherwood Park

Annesley

Nottinghamshire

NG15 0DT

REGISTERED NUMBER:

06933352 (England and Wales)

ACCOUNTANTS:

AKS Advisers

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Intangible assets

4

238,689

141,739

Tangible assets

5

327,522

35,485

566,211

177,224

CURRENT ASSETS

Stocks

139,919

28,453

Debtors

6

1,237,348

1,165,798

Cash at bank

1,274,806

982,009

2,652,073

2,176,260

CREDITORS

Amounts falling due within one year

7

1,692,393

1,627,035

NET CURRENT ASSETS

959,680

549,225

TOTAL ASSETS LESS CURRENT LIABILITIES

1,525,891

726,449

CREDITORS

Amounts falling due after more than one year

8

(933,194

)

(324,809

)

PROVISIONS FOR LIABILITIES

(258,917

)

(6,276

)

NET ASSETS

333,780

395,364

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

333,778

395,362

333,780

395,364

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2025 and were signed by:

R Mofidi - Director

1.	STATUTORY INFORMATION

Acumen Claims 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.

Going concern

Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive cash balances and reserves. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Having regard to the above, the director believes that it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised at 25% on the reducing balance basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Office equipment - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Work in progress

Work in progress cost includes a relevant proportion of overheads according to the stage of completion.

Taxation

Taxation for the year 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 year 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 year was 26 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2023

164,300

Additions

149,428

At 31 October 2024

313,728

AMORTISATION

At 1 November 2023

22,561

Charge for year

52,478

At 31 October 2024

75,039

NET BOOK VALUE

At 31 October 2024

238,689

At 31 October 2023

141,739

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2023

80,226

Additions

359,822

At 31 October 2024

440,048

DEPRECIATION

At 1 November 2023

44,741

Charge for year

67,785

At 31 October 2024

112,526

NET BOOK VALUE

At 31 October 2024

327,522

At 31 October 2023

35,485

6.

DEBTORS

31.10.24

31.10.23

£

£

Amounts falling due within one year:

Trade debtors

677,417

733,056

Other debtors

385,932

291,314

1,063,349

1,024,370

31.10.24

31.10.23

£

£

Amounts falling due after more than one year:

Other debtors

173,999

141,428

Aggregate amounts

1,237,348

1,165,798

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

200,000

-

Trade creditors

898,143

527,030

Amounts owed to group undertakings

12,000

-

Taxation and social security

163,597

331,877

Other creditors

418,653

768,128

1,692,393

1,627,035

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans

766,667

-

Other creditors

166,527

324,809

933,194

324,809

Other creditors includes the following:

- amounts received under the Coronavirus Business Interruption Loan Scheme with a fixed interest rate of 14.99% per annum and is to be repaid over 5 years. This loan is guaranteed by the Government.

- a fixed loan sum from LDF Finance No. 3 Limited. Loan is repayable in installments over 5 years.The loan is secured and guaranteed by the director Mr Reza Mofidi.

- Recovery loan from Funding Circle. Interest is chargeable on the loan at an annual interest rate of 9.40% and repayable in 6 years. The loan is secured by the Government's Recovery Loan Scheme guarantee.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is its parent company Acumen Global Partnership Limited, a company incorporated in England and Wales.