Registration number:
Evotech Computer-Aided Engineering Limited
for the Year Ended 31 March 2017
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Evotech Computer-Aided Engineering Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Evotech Computer-Aided Engineering Limited
Company Information
Director |
Dr S J Evans |
Company secretary |
Mrs A Evans |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Evotech Computer-Aided Engineering Limited
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Evotech Computer-Aided Engineering Limited for the year ended 31 March 2017 as set out on pages 3 to 13 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 Board of Directors of Evotech Computer-Aided Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 25 March 2013. Our work has been undertaken solely to prepare for your approval the accounts of Evotech Computer-Aided Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Evotech Computer-Aided Engineering Limited, 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 Evotech Computer-Aided Engineering Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Evotech Computer-Aided Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Evotech Computer-Aided Engineering Limited. You consider that Evotech Computer-Aided Engineering 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 accounts of Evotech Computer-Aided Engineering 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 accounts.
......................................
Fulwood
Preston
Lancashire
PR2 3LF
Page 2 |
Evotech Computer-Aided Engineering Limited
Statement of Comprehensive Income for the Year Ended 31 March 2017
Note |
2017 |
2016 |
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(Loss)/profit for the year |
( |
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Total comprehensive income for the year |
( |
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Page 3 |
Evotech Computer-Aided Engineering Limited
(Registration number: 06084120)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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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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Profit and loss account |
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Total equity |
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Page 4 |
Evotech Computer-Aided Engineering Limited
(Registration number: 06084120)
Balance Sheet as at 31 March 2017
For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Dr S J Evans
Director
Page 5 |
Evotech Computer-Aided Engineering Limited
Statement of Changes in Equity for the Year Ended 31 March 2017
Share capital |
Profit and loss account |
Total |
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At 1 April 2016 |
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|
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
Dividends |
- |
( |
( |
At 31 March 2017 |
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|
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Share capital |
Profit and loss account |
Total |
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At 1 April 2015 |
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|
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Profit for the year |
- |
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Total comprehensive income |
- |
|
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Dividends |
- |
( |
( |
At 31 March 2016 |
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Page 6 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% on reducing balance and 33.3% on cost |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Page 7 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Other intangible assets |
20% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 8 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
||
At 1 April 2016 |
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At 31 March 2017 |
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Amortisation |
||
At 1 April 2016 |
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Amortisation charge |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
- |
- |
At 31 March 2016 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
Page 9 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
||
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Debtors |
2017 |
2016 |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
|||
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Page 10 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Dividends |
2017 |
2016 |
|
£ |
£ |
|
Final dividend of £
|
- |
- |
The director is proposing a final dividend of £Nil (2016 - £Nil) per share totalling £Nil (2016 - £Nil). This dividend has not been accrued in the Balance Sheet.
Related party transactions |
Transactions with directors |
2017 |
At 1 April 2016 |
Advances to directors |
Repayments by director |
Other payments made to company by director |
At 31 March 2017 |
Dr S J Evans |
|||||
Director's loan account |
25,956 |
( |
|
9,900 |
|
2016 |
At 1 April 2015 |
Advances to directors |
Repayments by director |
Other payments made to company by director |
At 31 March 2016 |
Dr S J Evans |
|||||
Director's loan account |
23,903 |
( |
|
16,500 |
|
Directors' remuneration
The director's remuneration for the year was as follows:
2017 |
2016 |
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Remuneration |
|
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In respect of the highest paid director:
2017 |
2016 |
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Remuneration |
|
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Page 11 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Transition to FRS 102 |
The transistion to FRS102 has not resulted in any adjustments to the financial statements.
Balance Sheet at 1 April 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Intangible assets |
600 |
- |
- |
600 |
|
Tangible assets |
174 |
- |
- |
174 |
|
774 |
- |
- |
774 |
||
Current assets |
|||||
Debtors |
98 |
- |
- |
98 |
|
Cash at bank and in hand |
96,969 |
- |
- |
96,969 |
|
97,067 |
- |
- |
97,067 |
||
Creditors: Amounts falling due within one year |
(37,470) |
- |
- |
(37,470) |
|
Net current assets |
59,597 |
- |
- |
59,597 |
|
Total assets less current liabilities |
60,371 |
- |
- |
60,371 |
|
Provisions for liabilities |
(35) |
- |
- |
(35) |
|
Net assets |
60,336 |
- |
- |
60,336 |
|
Capital and reserves |
|||||
Called up share capital |
(100) |
- |
- |
(100) |
|
Profit and loss account |
(60,236) |
- |
- |
(60,236) |
|
Total equity |
(60,336) |
- |
- |
(60,336) |
Page 12 |
Evotech Computer-Aided Engineering Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Balance Sheet at 31 March 2016
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Intangible assets |
300 |
- |
- |
300 |
|
Tangible assets |
1,547 |
- |
- |
1,547 |
|
1,847 |
- |
- |
1,847 |
||
Current assets |
|||||
Debtors |
13,527 |
- |
- |
13,527 |
|
Cash at bank and in hand |
71,047 |
- |
- |
71,047 |
|
84,574 |
- |
- |
84,574 |
||
Creditors: Amounts falling due within one year |
(29,900) |
- |
- |
(29,900) |
|
Net current assets |
54,674 |
- |
- |
54,674 |
|
Total assets less current liabilities |
56,521 |
- |
- |
56,521 |
|
Provisions for liabilities |
(309) |
- |
- |
(309) |
|
Net assets |
56,212 |
- |
- |
56,212 |
|
Capital and reserves |
|||||
Called up share capital |
(100) |
- |
- |
(100) |
|
Profit and loss account |
(56,112) |
- |
- |
(56,112) |
|
Total equity |
(56,212) |
- |
- |
(56,212) |
Page 13 |