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REGISTERED NUMBER:
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EXECVIEW LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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REGISTERED NUMBER:
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EXECVIEW LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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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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EXECVIEW LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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BALANCE SHEET |
28 FEBRUARY 2018 |
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2018 | 2017 |
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 | 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 LIABILITIES | ( |
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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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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. |
EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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BALANCE SHEET - continued |
28 FEBRUARY 2018 |
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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 on
behalf by: |
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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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1. | STATUTORY INFORMATION |
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Execview Limited is a limited liability company registered in England and Wales. The registered office |
is 5 Yeomans Court, Ware Road, Hertford, Herts SG13 7HJ and its principal place of business is 31 |
Southampton Row, London WC1B 5HJ. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 |
Section 1A small entities "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the |
historical cost convention. |
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The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
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Going concern |
After reviewing the Company's forecasts and projections and taking into account the economic |
conditions and possible changes in trading performance, the directors have a reasonable expectation |
that the Company has adequate resources to continue in operational existence for the foreseeable |
future. The Company therefore continues to adopt the going concern basis in preparing its financial |
statements. |
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Significant judgements and estimates |
The preparation of financial statements requires management to make judgements, estimates and |
assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other |
factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
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Intangible assets are valued on an amortised historical cost basis. The amortisation rate is |
ascertained through regular review of the expected lifetime of the company's software product by the |
directors using their market knowledge and expertise. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from the rendering of services. |
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Rendering of services |
Turnover from the rendering of services is recognised by reference to the stage of completion of the |
contract. The stage of completion of a contract is measured by comparing the costs incurred for work |
performed to date to the total estimated contract costs. Turnover is only recognised to the extent of |
recoverable expenses when the outcome of a contract cannot be estimated reliably. |
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Interest income |
Interest income is recognised using the effective interest method. |
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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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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Property, plant and equipment is measured at cost less accumulated depreciation and accumulated |
impairment losses. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life. |
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Plant and machinery - 33% on cost |
Fixtures and fittings - 20% on reducing balance |
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At each reporting date, property, plant and equipment 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 the 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 |
impairment is recognised immediately in profit or loss. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
current or past reporting periods using tax rates that have been enacted or substantively enacted by |
the reporting date. |
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Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
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Deferred tax relating to a non-depreciable asset that is measured using the revaluation model, or to |
investment properties measured at fair value, is measured using the tax rates and allowances that |
apply to the sale of the asset. |
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Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the |
reporting date that are expected to apply to the reversal of the timing difference. |
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Research and development |
Development expenditure incurred on an individual project is carried forward when its future |
recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in |
line with the expected future sales from the related project. |
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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. |
EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other debtors |
Trade and other debtors are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest. Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
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Trade and other creditors |
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term |
deposits with an original maturity date of three months or less. |
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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 |
Other |
intangible |
assets |
£ |
COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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AMORTISATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 March 2017 |
and 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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EXECVIEW LIMITED (REGISTERED NUMBER: 05003903) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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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: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 28 February 2018 |
and 28 February 2017: |
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2018 | 2017 |
£ | £ |
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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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