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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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ASPIDISTRA SOFTWARE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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ASPIDISTRA SOFTWARE LIMITED |
ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ASPIDISTRA SOFTWARE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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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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2 Barnfield Crescent |
Exeter |
Devon |
EX1 1QT |
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BANKERS: |
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32 Fore Street |
Kingsbridge |
Devon |
TQ7 1PB |
ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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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. |
ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Aspidistra Software Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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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. |
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Intangible fixed assets and amortisation |
Amortisation is provided at rates calculated to write off the cost less residual value of each asset over |
its expected useful life, as follows: |
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Research and Development - 3 year straight line |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life. |
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Fixtures & fittings - 15% reducing balance |
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Computer equipment - 3 year straight line |
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Stocks |
WIP in measured as the amounts recoverable on contracts on the basis of the percentage the |
contract is considered to be complete at the year end. Expected losses arising on contract are |
recognised in the profit or loss in the period the loss becomes probable. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in |
non-convertible preference and non-puttable ordinary shares which are measured at fair value, with |
changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and |
thereafter at fair value with changes recognised in profit or loss. |
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ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, |
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. |
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Research and development |
Expenditure on research is written off in the year in which it is incurred. Development expenditure is |
written off in the same year unless the directors are satisfied as to the technical, commercial and |
financial viability of individual projects. In this situation, the expenditure is deferred and amortised over |
the period from which the company is expected to benefit. |
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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. |
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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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Deferred income |
Income relating to services carried out which has been deferred over the period to which it relates. |
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Grant income |
Grants relating to expenses are recognised on a systematic basis over the periods in which the entity |
recognises the related costs and are offset against the expenses to which they relate. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets |
and depreciated over the shorter of the lease term and their useful lives. Obligations under such |
agreements are included in creditors net of the finance charge allocated to future periods. The finance |
element of rental payment is charged to the profit and loss account so as to produce constant periodic |
rates of charge on the net obligations outstanding in each period. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures | Computer |
& fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Aspidistra Holdings Limited | 206,430 | - |
Prepayments & Accrued Income |
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ASPIDISTRA SOFTWARE LIMITED (REGISTERED NUMBER: 03678831) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT | 14,719 | 40,283 |
Other creditors |
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Directors' current accounts | - | 3,443 |
Deferred Income |
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Accruals |
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Aspidistra Services Ltd | 9,738 | - |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other loans - 1-2 years |
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Hire purchase contracts |
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10. | SECURED DEBTS |
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The company's bankers HSBC, have by way of security a debenture over all the assets of the |
company. The total of debts included in this manner are £11,797 (2016: £17,348) |
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Loans advanced to the company by Finance South West are secured by a second debenture over the |
company's assets. The total of debts included in this manner are £13,418 (2016:£34,849) |
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Within Other creditors is a balance relating to the factoring of invoices by Peak Cashflow Factoring. |
These advances are secured on the invoices to which they relate. The total of liability at the year end |
was £32,363 (2016: £nil) |
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HP liabilities are secured upon the assets to which they relate. |