Company Registration No. 06359421 (England and Wales)
7P UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
7P UK LIMITED
COMPANY INFORMATION
Directors
U Buser
(Appointed 1 January 2017)
G Duentzer
(Appointed 1 January 2017)
Company number
06359421
Registered office
3 Richfield Place
Richfield Avenue
Reading
Berkshire
RG1 8EQ
Auditor
HJS (Reading) Limited
Chartered Accountants and Statutory Auditors
3 Richfield Place
Richfield Avenue
Reading
Berkshire
RG1 8EQ
7P UK LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 5
Profit and loss account
6
Statement of comprehensive income
7
Balance sheet
8 - 9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 19
7P UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 1 -
The directors present the strategic report for the year ended 31 December 2016.
Fair review of the business
7P UK Ltd. is a subsidiary of SEVEN PRINCIPLES AG in Germany. The focus is on consulting in the Telecommunication IT.
Principal risks and uncertainties
The strategy in 2017 was to stabilize the existing businesses of our largest customer, Vodafone, and build another customer in the UK. We succeeded in doing so successfully. We have successfully established another customer at the beginning of 2017. Arriva, which is a subsidiary of DB Systel Group in Germany, became another customer in the UK.
The recruitment of two new employees in 2016 has increased the quality of the delivery of our largest project, and we have been able to successfully increase our margins through our own recruiter.
Development and performance
The plan for 2017 was to generate 12.5 million euros in sales and generate gross profit of 1.5 million euros. According to the current forecasts, we are on schedule here.
We are currently in the strategy phase for 2018. The current plan for 2018 is 15 million euros in sales and 1.8 million euros gross profit. These numbers have not yet been finalized.
U Buser
Director
20 January 2018
7P UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
The directors present their annual report and financial statements for the year ended 31 December 2016.
Principal activities
The principal activity of the company continued to be that of providing specialised consultancy to the mobile communications industry.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
J S Kronfli
(Resigned 1 January 2017)
U Buser
(Appointed 1 January 2017)
G Duentzer
(Appointed 1 January 2017)
Results and dividends
The results for the year are set out on page 6.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Auditor
HJS (Reading) Limited are deemed to be reappointed in accordance with Section 487(2) of the Companies Act 2006.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
On behalf of the board
U Buser
G Duentzer
Director
Director
20 January 2018
20 January 2018
7P UK LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
7P UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF 7P UK LIMITED
- 4 -
We have audited the financial statements of 7P UK Limited for the year ended 31 December 2016 set out on pages 6 to 19. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditor
As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the annual report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 December 2016 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit, the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements, and the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
7P UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF 7P UK LIMITED
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the Strategic Report and the Directors' Report
.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Mark H Rogers (Senior Statutory Auditor)
for and on behalf of HJS (Reading) Limited
30 January 2018
Chartered Accountants and Statutory Auditors
3 Richfield Place
Richfield Avenue
Reading
Berkshire
RG1 8EQ
7P UK LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 6 -
2016
2015
Notes
€
€
Turnover
3
9,540,372
8,177,869
Cost of sales
(8,444,705)
(7,310,734)
Gross profit
1,095,667
867,135
Administrative expenses
(680,569)
(309,341)
Other operating income
2,099
2,063
Operating profit
4
417,197
559,857
Interest receivable and similar income
6
-
8,144
Interest payable and similar expenses
7
(280,041)
(238,462)
Profit before taxation
137,156
329,539
Tax on profit
8
(366)
5,468
Profit for the financial year
136,790
335,007
The Profit And Loss Account has been prepared on the basis that all operations are continuing operations.
7P UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2016
- 7 -
2016
2015
€
€
Profit for the year
136,790
335,007
Other comprehensive income
-
-
Total comprehensive income for the year
136,790
335,007
7P UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 8 -
2016
2015
Notes
€
€
€
€
Fixed assets
Tangible assets
9
2,657
629
Current assets
Debtors
11
2,004,146
2,543,813
Cash at bank and in hand
431,812
156,955
2,435,958
2,700,768
Creditors: amounts falling due within one year
12
(1,539,496)
(1,939,068)
Net current assets
896,462
761,700
Total assets less current liabilities
899,119
762,329
Capital and reserves
Called up share capital
13
136
136
Profit and loss reserves
898,983
762,193
Total equity
899,119
762,329
7P UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2016
31 December 2016
- 9 -
The financial statements were approved by the board of directors and authorised for issue on 20 January 2018 and are signed on its behalf by:
U Buser
G Duentzer
Director
Director
Company Registration No. 06359421
7P UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2016
- 10 -
Share capital
Profit and loss reserves
Total
€
€
€
Balance at 1 January 2015
136
427,186
427,322
Year ended 31 December 2015:
Profit and total comprehensive income for the year
-
335,007
335,007
Balance at 31 December 2015
136
762,193
762,329
Year ended 31 December 2016:
Profit and total comprehensive income for the year
-
136,790
136,790
Balance at 31 December 2016
136
898,983
899,119
7P UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 11 -
2016
2015
Notes
€
€
€
€
Cash flows from operating activities
Cash generated from operations
16
297,455
151,672
Interest paid
(280,041)
(238,462)
Income taxes refunded/(paid)
260,625
(12,281)
Net cash inflow/(outflow) from operating activities
278,039
(99,071)
Investing activities
Purchase of tangible fixed assets
(3,182)
-
Interest received
-
8,144
Net cash (used in)/generated from investing activities
(3,182)
8,144
Net cash used in financing activities
-
-
Net increase/(decrease) in cash and cash equivalents
274,857
(90,927)
Cash and cash equivalents at beginning of year
156,955
247,882
Cash and cash equivalents at end of year
431,812
156,955
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 12 -
1
Accounting policies
Company information
7P UK Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Richfield Place, Richfield Avenue, Reading, Berkshire, RG1 8EQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
Euros
which is the
presentational
currency of the company.
The functional currency is considered to be Sterling.
Monetary a
mounts
in these financial statements are
rounded to the nearest €.
The reason for presenting these financial statements in a different currency to the functional currency is to be consistent with the group.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
three years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets.
A provision is made for any impairment loss and taken to the profit and loss account.
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 13 -
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company
only enters into Basic financial instrument transactions
.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when
the company
transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 14 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Other financial liabilities
Financial assets and liabilities classified as receivable or payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The 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.
Deferred tax
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 the tax assessments.
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.
The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 15 -
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Turnover and other revenue
An analysis of the company's turnover is as follows:
2016
2015
€
€
Turnover analysed by class of business
Sales to Group
8,978,018
8,177,869
Sale to external customers
562,354
-
9,540,372
8,177,869
2016
2015
€
€
Other significant revenue
Interest income
-
8,144
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
3
Turnover and other revenue
(Continued)
- 16 -
2016
2015
€
€
Turnover analysed by geographical market
Sales to EU countries
9,302,588
8,177,869
Sales to UK
237,784
-
9,540,372
8,177,869
4
Operating profit
2016
2015
Operating profit for the year is stated after charging/(crediting):
€
€
Exchange (gains)/losses
(54,504)
25,260
Fees payable to the company's auditor for the audit of the company's financial statements
19,316
19,232
Depreciation of owned tangible fixed assets
1,152
2,216
Loss on disposal of tangible fixed assets
2
1
Exchange differences recognised in profit or loss during the year, except for those arising on financial instruments measured at fair value through profit or loss, amounted to €54,504 (2015 - €25,260).
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2016
2015
Number
Number
Adminstration
1
-
Their aggregate remuneration comprised:
2016
2015
€
€
Wages and salaries
59,872
-
Social security costs
411
-
60,283
-
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 17 -
6
Interest receivable and similar income
2016
2015
€
€
Interest income
Other interest income
-
8,144
7
Interest payable and similar expenses
2016
2015
€
€
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
-
2
Other interest on financial liabilities
280,041
238,460
280,041
238,462
8
Taxation
2016
2015
€
€
Current tax
UK corporation tax on profits for the current period
366
-
Adjustments in respect of prior periods
-
(5,468)
Total current tax
366
(5,468)
The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2016
2015
€
€
Profit before taxation
137,156
329,539
Expected tax charge based on the standard rate of corporation tax in the UK of 20.00% (2015: 20.00%)
27,431
65,908
Adjustments in respect of prior years
-
(5,468)
Utilisation of tax losses
(26,660)
(65,908)
Other tax adjustments
(405)
-
Taxation charge/(credit) for the year
366
(5,468)
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 18 -
9
Tangible fixed assets
Fixtures, fittings & equipment
€
Cost
At 1 January 2016
20,955
Additions
3,182
Disposals
(2)
At 31 December 2016
24,135
Depreciation and impairment
At 1 January 2016
20,326
Depreciation charged in the year
1,152
At 31 December 2016
21,478
Carrying amount
At 31 December 2016
2,657
At 31 December 2015
629
10
Financial instruments
2016
2015
€
€
Carrying amount of financial assets
Debt instruments measured at amortised cost
1,233,262
1,534,198
Carrying amount of financial liabilities
Measured at amortised cost
1,535,899
1,939,068
11
Debtors
2016
2015
Amounts falling due within one year:
€
€
Trade debtors
164,391
49,500
Gross amounts due from contract customers
234,586
183,338
Corporation tax recoverable
-
260,625
Amounts owed by group undertakings
1,065,318
1,484,698
Other debtors
519,042
529,820
Prepayments and accrued income
20,809
35,832
2,004,146
2,543,813
7P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 19 -
12
Creditors: amounts falling due within one year
2016
2015
€
€
Trade creditors
1,090,867
1,241,905
Corporation tax
366
-
Other taxation and social security
3,231
-
Accruals and deferred income
445,032
697,163
1,539,496
1,939,068
13
Share capital
2016
2015
€
€
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
136
136
14
Related party transactions
The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
true
15
Controlling party
The ultimate parent company is
Seven Principles AG
, a company registered in Germany.
The ultimate controlling party is
Johannes Mohn
who owns 80% of the shareholding in the ultimate parent company, Seven Principals AG.
16
Cash generated from operations
2016
2015
€
€
Profit for the year after tax
136,790
335,007
Adjustments for:
Taxation charged/(credited)
366
(5,468)
Finance costs
280,041
238,462
Investment income
-
(8,144)
Loss on disposal of tangible fixed assets
2
1
Depreciation and impairment of tangible fixed assets
1,152
2,216
Movements in working capital:
Decrease/(increase) in debtors
279,042
(1,239,535)
(Decrease)/increase in creditors
(399,938)
829,133
Cash generated from operations
297,455
151,672
2016-12-31
2016-01-01
false
CCH Software
CCH Accounts Production 2017.400
06359421
2016-01-01
2016-12-31
06359421
bus:Director2
2016-01-01
2016-12-31
06359421
bus:Director3
2016-01-01
2016-12-31
06359421
bus:Director1
2016-01-01
2016-12-31
06359421
bus:RegisteredOffice
2016-01-01
2016-12-31
06359421
2016-12-31
06359421
2015-01-01
2015-12-31
06359421
2015-12-31
06359421
core:FurnitureFittings
2016-12-31
06359421
core:FurnitureFittings
2015-12-31
06359421
core:CurrentFinancialInstruments
2016-12-31
06359421
core:CurrentFinancialInstruments
2015-12-31
06359421
core:ShareCapital
2016-12-31
06359421
core:ShareCapital
2015-12-31
06359421
core:ShareCapital
core:RestatedAmount
2014-12-31
06359421
core:RestatedAmount
2014-12-31
06359421
core:FurnitureFittings
2016-01-01
2016-12-31
06359421
core:OwnedAssets
2016-01-01
2016-12-31
06359421
core:OwnedAssets
2015-01-01
2015-12-31
06359421
core:UKTax
2016-01-01
2016-12-31
06359421
core:UKTax
2015-01-01
2015-12-31
06359421
1
2016-01-01
2016-12-31
06359421
1
2015-01-01
2015-12-31
06359421
2
2016-01-01
2016-12-31
06359421
core:FurnitureFittings
2015-12-31
06359421
bus:PrivateLimitedCompanyLtd
2016-01-01
2016-12-31
06359421
bus:FRS102
2016-01-01
2016-12-31
06359421
bus:Audited
2016-01-01
2016-12-31
06359421
bus:FullAccounts
2016-01-01
2016-12-31
xbrli:pure
xbrli:shares
iso4217:GBP