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Sage Accounts Production 19.0 - FRS102_2019
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xbrli:shares
iso4217:GBP
4817102
2018-08-01
2019-07-31
4817102
2019-07-31
4817102
2018-07-31
4817102
2017-08-01
2018-07-31
4817102
2018-07-31
4817102
core:NetGoodwill
2018-08-01
2019-07-31
4817102
core:PlantMachinery
2018-08-01
2019-07-31
4817102
core:FurnitureFittingsToolsEquipment
2018-08-01
2019-07-31
4817102
bus:LeadAgentIfApplicable
2018-08-01
2019-07-31
4817102
bus:Director2
2018-08-01
2019-07-31
4817102
core:NetGoodwill
2019-07-31
4817102
core:PlantMachinery
2018-07-31
4817102
core:FurnitureFittingsToolsEquipment
2018-07-31
4817102
core:FurnitureFittingsToolsEquipment
2019-07-31
4817102
core:WithinOneYear
2019-07-31
4817102
core:WithinOneYear
2018-07-31
4817102
core:ShareCapital
2019-07-31
4817102
core:ShareCapital
2018-07-31
4817102
core:RetainedEarningsAccumulatedLosses
2018-07-31
4817102
core:NetGoodwill
2018-07-31
4817102
core:PlantMachinery
2018-07-31
4817102
core:FurnitureFittingsToolsEquipment
2018-07-31
4817102
bus:SmallEntities
2018-08-01
2019-07-31
4817102
bus:AuditExemptWithAccountantsReport
2018-08-01
2019-07-31
4817102
bus:FullAccounts
2018-08-01
2019-07-31
4817102
bus:SmallCompaniesRegimeForAccounts
2018-08-01
2019-07-31
4817102
bus:PrivateLimitedCompanyLtd
2018-08-01
2019-07-31
Company registration number:
4817102
Copy Tech Solutions Limited
Unaudited filleted financial statements
31 July 2019
Copy Tech Solutions Limited
Contents
Accountants report
Statement of financial position
Notes to the financial statements
Copy Tech Solutions Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Copy Tech Solutions Limited
Year ended 31 July 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Copy Tech Solutions Limited for the year ended 31 July 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Copy Tech Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 4 March 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Copy Tech Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Copy Tech Solutions Limited and its director as a body for our work or for this report.
It is your duty to ensure that Copy Tech Solutions 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 loss of Copy Tech Solutions Limited. You consider that Copy Tech Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Copy Tech Solutions 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.
Rimmer & May
Chartered Accountants
19 Murray Street
Llanelli
Carmarthenshire
SA15 1AQ
21 April 2020
Copy Tech Solutions Limited
Statement of financial position
31 July 2019
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
6
|
1
|
|
|
|
1,439
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
1
|
|
|
|
1,439
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
-
|
|
|
|
730
|
|
|
Debtors
|
|
7
|
276
|
|
|
|
964
|
|
|
Cash at bank and in hand
|
|
|
2,380
|
|
|
|
8,863
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
2,656
|
|
|
|
10,557
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
2,381)
|
|
|
|
(
8,482)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
275
|
|
|
|
2,075
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
276
|
|
|
|
3,514
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
274)
|
|
|
|
(
467)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
2
|
|
|
|
3,047
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
2
|
|
|
|
2
|
Profit and loss account
|
|
|
|
|
-
|
|
|
|
3,045
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholder funds
|
|
|
|
|
2
|
|
|
|
3,047
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 April 2020
, and are signed on behalf of the board by:
R.P. Thomas
Director
Company registration number:
4817102
Copy Tech Solutions Limited
Notes to the financial statements
Year ended 31 July 2019
1.
General information
The company ceased trading by the 31 July 2019having paid its creditors , collected in any debts due and sold its assets and stock to its director at market value.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
10 % |
straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
25 %
|
reducing balance
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2018 and 31 July 2019
|
30,000
|
30,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 August 2018 and 31 July 2019
|
30,000
|
30,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2019
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2018
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 August 2018
|
1,126
|
3,639
|
4,765
|
|
|
|
|
|
Disposals
|
(
1,126)
|
(
3,639)
|
(
4,765)
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2019
|
-
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 August 2018
|
711
|
2,614
|
3,325
|
|
|
|
|
|
Charge for the year
|
52
|
128
|
180
|
|
|
|
|
|
Disposals
|
(
763)
|
(
2,743)
|
(
3,506)
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2019
|
-
|
(
1)
|
(
1)
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 July 2019
|
-
|
1
|
1
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2018
|
415
|
1,025
|
1,440
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
-
|
812
|
|
Other debtors
|
|
276
|
152
|
|
|
|
_______
|
_______
|
|
|
|
276
|
964
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Corporation tax
|
|
-
|
331
|
|
Other creditors
|
|
2,381
|
8,151
|
|
|
|
_______
|
_______
|
|
|
|
2,381
|
8,482
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Related party transactions
The company occupied premises owned by its director during the year and paid him £260 for the use of those premises (2018 £520). The company owed its director £1,767 on the 31st July 2019(2018: £7,178). The amount owing is interest free and repayable on demand.