Company Registration No. 06871193 (England and Wales)
Foresight Cyber Ltd
Unaudited accounts
for the year ended 5 April 2018
Foresight Cyber Ltd
Unaudited accounts
Contents
Foresight Cyber Ltd
Company Information
for the year ended 5 April 2018
Directors
Vladimir Jirasek
Eva Jirasek
Company Number
06871193 (England and Wales)
Registered Office
INTERNATIONAL HOUSE 24 HOLBORN VIADUCT
CITY OF LONDON
LONDON
EC1A 2BN
ENGLAND
Accountants
Clare Lichfield Bookkeeping and Accountancy Services
Foresight Cyber Ltd
Accountants' report
Accountants' report to the board of directors of Foresight Cyber Ltd on the preparation of the unaudited statutory accounts for the year ended 5 April 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Foresight Cyber Ltd for the year ended
5 April 2018 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Foresight Cyber Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Foresight Cyber Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foresight Cyber Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Foresight Cyber Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Foresight Cyber Ltd. You consider that Foresight Cyber Ltd 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 Foresight Cyber Ltd. 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.
Clare Lichfield Bookkeeping and Accountancy Services
5 October 2018
Foresight Cyber Ltd
Statement of financial position
as at
5 April 2018
Tangible assets
49,006
45,518
Cash at bank and in hand
91,713
75,096
Creditors: amounts falling due within one year
(70,134)
(30,776)
Net current assets
86,385
45,227
Net assets
167,914
90,745
Called up share capital
1,960
1,960
Profit and loss account
165,954
88,785
Shareholders' funds
167,914
90,745
For the year ending 5 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 October 2018.
Vladimir Jirasek
Director
Company Registration No. 06871193
Foresight Cyber Ltd
Notes to the Accounts
for the year ended 5 April 2018
Foresight Cyber Ltd is a private company, limited by shares, registered in England and Wales, registration number 06871193. The registered office is INTERNATIONAL HOUSE 24 HOLBORN VIADUCT, CITY OF LONDON, LONDON, EC1A 2BN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 5 April 2018 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 6 April 2016
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% Reducing Balance
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foresight Cyber Ltd
Notes to the Accounts
for the year ended 5 April 2018
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Total
Charge for the year
4,979
5
Transactions with related parties
The company has taken advantage of the exemption under section 33.1A of FRS 102 Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.
The company is controlled by Mr V Jirasek, a Director, by virtue of his majority ownership of the ordinary share capital.
7
Average number of employees
During the year the average number of employees was 2 (2017: 2).
8
Reconciliations on adoption of FRS 102
The Company has considered the impact of first-time adoption of FRS102. The policies applied under the entity's previous accounting framework are not materially different to FRS102 and have not impacted on equity or profit or loss.