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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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Advanced Investment & |
Retirement Planning Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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Advanced Investment & |
Retirement Planning Limited |
Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
Advanced Investment & |
Retirement Planning Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Achorn House |
34 Millbank Road |
Munlochy |
Ross-Shire |
IV8 8ND |
Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Abridged Balance Sheet |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Abridged Balance Sheet - continued |
31 March 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Advanced Investment & Retirement Planning Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company ceased trading in April 2021 the accounts have been prepared on a break-up basis. No adjustments have been made as a result of this basis as the directors are of the opinion that the recoverable value of each asset is not materially different from the carrying value. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for commissions. |
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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. Turnover is recognised when 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 when the costs incurred and the costs to complete the contract can be measured reliably. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of client banks in 2009 and 2010, is being amortised evenly over its estimated useful life of ten years. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Government grants |
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss account. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less, where applicable, impairment. |
Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
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Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. |
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All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. |
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Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately. |
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All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
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Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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AMORTISATION |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
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At 31 March 2021 |
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At 31 March 2020 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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Advanced Investment & |
Retirement Planning Limited (Registered number: SC361109) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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6. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 April 2020 |
and 31 March 2021 | 1 |
NET BOOK VALUE |
At 31 March 2021 | 1 |
At 31 March 2020 | 1 |
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Fixed asset investments held at the year-end consist of the shares held in the subsidiary company, Advanced Retirement Planning Ltd. |
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7. | OTHER FINANCIAL COMMITMENTS |
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As at 31 March 2021, the company had total commitments under non cancellable operating leases over the remaining life of those leases of £32,285 (2020 - £52,831). |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020: |
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31.3.21 | 31.3.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The above loans are unsecured, interest free and have no fixed repayment terms. |
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9. | POST BALANCE SHEET EVENTS |
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In April 2021 the directors stopped trading through Advanced Investment & Retirement Planning Ltd and began trading through Advanced Investment & Retirement Planning (Scotland) Ltd, a company with directors in common. It is intended that the financial commitments disclosed at note 9 will be transferred to Advanced Investment & Retirement Planning (Scotland) Ltd. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Advanced Investment & |
Retirement Planning Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Advanced Investment & Retirement Planning Limited for the year ended 31 March 2021 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Advanced Investment & Retirement Planning Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Advanced Investment & Retirement Planning Limited and state those matters that we have agreed to state to the Board of Directors of Advanced Investment & Retirement Planning Limited, as a body, in this report in accordance with the requirements of ICAS 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 and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Advanced Investment & Retirement Planning Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Advanced Investment & Retirement Planning Limited. You consider that Advanced Investment & Retirement Planning Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Advanced Investment & Retirement Planning 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 financial statements. |
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Chartered Accountants |
Achorn House |
34 Millbank Road |
Munlochy |
Ross-Shire |
IV8 8ND |
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