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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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FOREMOST INTEGRATED CIRCUITS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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FOR |
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FOREMOST INTEGRATED CIRCUITS LIMITED |
FOREMOST INTEGRATED CIRCUITS LIMITED (REGISTERED NUMBER: 07517363) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FOREMOST INTEGRATED CIRCUITS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Cornelius House |
178-180 Church Road |
Hove |
East Sussex |
BN3 2DJ |
FOREMOST INTEGRATED CIRCUITS LIMITED (REGISTERED NUMBER: 07517363) |
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BALANCE SHEET |
30TH SEPTEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Share premium | 6 |
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Retained earnings | 6 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
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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 director and authorised for issue on
signed by: |
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FOREMOST INTEGRATED CIRCUITS LIMITED (REGISTERED NUMBER: 07517363) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Foremost Integrated Circuits Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis due to the continued support |
of its director and financial support from related parties. There are no non-financial assets other than |
intellectual property at nil value on the balance sheet and no financial commitments other than the |
liabilities included in the balance sheet. |
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Significant judgements and estimates |
No significant judgements have had to be made by the directors in preparing these financial |
statements. |
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Turnover |
Turnover represented net invoiced sales of intellectual property rights and consultancy services, |
excluding value added tax. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of |
financial assets and liabilities like trade and other accounts receivable and payable, and loans from |
related parties. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each |
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an |
impairment loss is recognised in profit or loss. |
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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. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to connected undertakings |
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Director's loan account | 9,000 | 9,000 |
Accruals and deferred income |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | 1p | 17,224 | 17,224 |
FOREMOST INTEGRATED CIRCUITS LIMITED (REGISTERED NUMBER: 07517363) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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6. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1st October 2018 | ( |
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(314,167 | ) |
Deficit for the year | ( |
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At 30th September 2019 | ( |
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(316,643 | ) |
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7. | RELATED PARTY DISCLOSURES |
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J G Steele |
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Interest free loan |
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2019 | 2018 |
£ | £ |
Amount due to related party at the balance sheet date | 9,000 | 9,000 |
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Roundhurst (formerly Witley Park)Holdings Limited |
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A company controlled by Mr J G Steele. |
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Interest free loan repayable as funds permit. |
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2019 | 2018 |
£ | £ |
Amount due to related party at the balance sheet date | 301,229 | 301,229 |
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Hilight Semiconductor Limited |
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A company in which Mr J G Steele is both a Director and Shareholder. |
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Additional proceeds for prototypes and their related IP were invoiced to Hilight Semiconductor Limited |
in April 2018 for a further £100,000. |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is J G Steele. |