REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
UPDATA LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
UPDATA LIMITED |
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Director's Responsibilities Statement | 9 |
|
Independent Accountants' Review Report | 10 |
|
UPDATA LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
1st Floor |
80 Coombe Road |
New Malden |
Surrey |
KT3 4QS |
|
|
|
BANKERS: |
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
BALANCE SHEET |
31 MARCH 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
Investments | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 9 |
|
|
NET ASSETS |
|
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
BALANCE SHEET - continued |
31 MARCH 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
|
|
Share premium |
|
|
Capital redemption reserve |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
|
|
|
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
|
|
|
|
|
|
|
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Updata Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Tangible fixed assets |
|
Computer hardware | - |
|
|
Government grants |
Government grant income relating to coronavirus support is recorded in the period to which the claim relates and all conditions required have been met. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Financial instruments |
- Cash and cash equivalents |
Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. |
|
- Debtors and creditors |
Debtors and creditors receivable or payable within one year of the reporting date are carried at their at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. |
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
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. |
|
Turnover |
The Company derives revenues from software licence fees. |
|
The turnover shown in the profit and loss account represents the fair value of consideration received or receivable from clients for goods and services provided by the company net of discounts and sales taxes. |
|
Revenue Recognition |
|
The Company recognises revenue from arrangements when all of the following conditions are met: |
(1) The company has entered into an agreement for the provision of goods or services. |
(2) The software has been delivered with no significant vendor obligations remaining. |
(3) The fee is fixed and free from uncertainties. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
DEPRECIATION |
At 1 April 2020 |
|
Charge for year |
|
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
|
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
6. | FIXED ASSET INVESTMENTS - continued |
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2021 | 2020 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Profit/(loss) for the year |
|
( |
) |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
Due from credit card companies | - | 128 |
Tax |
|
|
Prepayments |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
PAYE and NIC | 10,943 | 18,932 |
VAT | 4,635 | 2,850 |
Other creditors | 692 | 722 |
Pension contributions | 206 | 206 |
Deferred income |
|
|
Accruals |
|
|
|
|
UPDATA LIMITED (REGISTERED NUMBER: 02095011) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Bank loans more 5 yr by instal |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 1,667 | - |
DIRECTOR'S RESPONSIBILITIES STATEMENT |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
UPDATA LIMITED |
|
|
|
The following reproduces the text of the report prepared for the director and members 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 Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
|
I confirm that as a director I have met my duty in accordance with the Companies Act 2006 to: |
|
- | ensure that the company has kept proper accounting records; |
- | prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2021 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements. |
|
|
|
|
|
|
|
|
|
9 November 2021 |
INDEPENDENT ACCOUNTANTS' REVIEW REPORT TO THE DIRECTOR OF |
UPDATA LIMITED |
|
|
The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
|
We have reviewed the financial statements of Updata Limited for the year ended 31 March 2021, which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 1 to 13. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
|
This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with him in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director for our work, for this report or the conclusions we have formed. |
|
Director's responsibility for the financial statements |
As explained more fully in the Director's Responsibilities Statement set out on page thirteen, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. |
|
Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. |
|
Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements. |
INDEPENDENT ACCOUNTANTS' REVIEW REPORT TO THE DIRECTOR OF |
UPDATA LIMITED |
|
|
|
Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
- | so as to give a true and fair view of the state of the company's affairs as at 31 March 2021 and of its profit for the year then ended; |
- | in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | in accordance with the requirements of the Companies Act 2006. |
|
|
|
|
|
1st Floor |
80 Coombe Road |
New Malden |
Surrey |
KT3 4QS |
|
|
|