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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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1 June 2016 to 31 December 2016 |
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for |
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Datatrial Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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1 June 2016 to 31 December 2016 |
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for |
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Datatrial Limited |
Datatrial Limited (Registered number: 03936114) |
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Contents of the Financial Statements |
for the Period 1 June 2016 to 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Datatrial Limited |
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Company Information |
for the Period 1 June 2016 to 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Business Advisers |
Coburg House |
1 Coburg Street |
Gateshead |
Tyne & Wear |
NE8 1NS |
Datatrial Limited (Registered number: 03936114) |
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Balance Sheet |
31 December 2016 |
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2016 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 | - | - |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS |
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( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Datatrial Limited (Registered number: 03936114) |
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Notes to the Financial Statements |
for the Period 1 June 2016 to 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Datatrial Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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This is the first year in which the financial statements have been prepared under the provisions of Section 1A |
"Small Entities" of Financial Reporting Standard FRS 102 "The Financial Reporting Standard applicable in the |
UK and Republic of Ireland". |
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The accounting period was shortened to 31 December 2016 to be consistent with the parent company, where |
the comparative amounts presented are not entirely comparable. |
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Preparation of consolidated financial statements |
The financial statements contain information about Datatrial Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for technology services, stated net of discounts and of value added tax. |
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Other operating income |
Other operating income is measured at the fair value of the consideration received or receivable and |
represents amounts receivable for management services, stated net of discounts and of value added tax. |
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The company recognises revenue and other operating income when the amount of income can be measured |
reliably and when it is probable that future economic benefits will flow to the company. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
is recognised immediately in profit or loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
immediately in profit or loss. |
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Datatrial Limited (Registered number: 03936114) |
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Notes to the Financial Statements - continued |
for the Period 1 June 2016 to 31 December 2016 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A |
current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a |
previous period. |
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses |
in the financial statements and their inclusion in tax assessments. |
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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 and other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
reporting date and that are expected to apply to the reversal of the timing difference. |
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Current and deferred tax assets and liabilities are not discounted. |
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Research and development |
Expenditure on research and development is written off in the period in which it is incurred. |
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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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Employee benefits |
Short term employee benefits, including contributions to defined contribution pension schemes, are |
recognised as an expense in the period in which they are incurred. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties, loans to related parties and investments on non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
is recognised in profit or loss. |
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Fixed asset investments |
Investments in subsidiary undertakings are accounted for at cost less impairment in the individual financial |
statements. Dividend is recognised in the profit and loss account when the right to receive payment is |
established. |
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Leases |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over |
the term of the lease. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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Datatrial Limited (Registered number: 03936114) |
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Notes to the Financial Statements - continued |
for the Period 1 June 2016 to 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 June 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for period |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 May 2016 |
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6. | FIXED ASSET INVESTMENTS |
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During the period the company disposed of its investment in it's wholly owned subsidiary Datatrial Inc, a |
company registered in the USA, for a total consideration of £813,008. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2016 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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10. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial |
statements prepared under the previous FRSSE 2015 were for the year ended 31 May 2016. The date of |
transition to FRS 102 was 1 June 2015. There were no adjustments to the company's balance sheet at 1 June |
2015 and 31 May 2016 on transition to FRS 102. |
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