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Financial Statements for the Year Ended 30 June 2018 |
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B.C. Strategy UK Ltd |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 June 2018 |
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for |
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B.C. Strategy UK Ltd |
B.C. Strategy UK Ltd (Registered number: 08153977) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2018 |
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Page |
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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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B.C. Strategy UK Ltd |
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Company Information |
for the Year Ended 30 June 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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130 Wood Street |
London |
EC2V 6DL |
B.C. Strategy UK Ltd (Registered number: 08153977) |
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Balance Sheet |
30 June 2018 |
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30.6.18 | 30.6.17 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Investments | 6 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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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Retained earnings | 10 |
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2,920,007 |
SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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B.C. Strategy UK Ltd (Registered number: 08153977) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2018 |
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1. | STATUTORY INFORMATION |
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B.C. Strategy UK Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The company's principal place of business is the registered office. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover and rendering of services |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company |
and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration |
received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover |
represents the amounts derived from the provision of business intelligence services, which falls within the |
company's ordinary activities, all of which are continuing, stated net of value added tax. |
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Turnover arising from the provision of business intelligence services is assessed on a contract by contract basis |
and reflected in the statement of income and retained earnings by recording turnover and related costs as |
contract activity progresses. Turnover is calculated as the proportion of total contract value which contract |
costs to date bear to total expected contract costs. |
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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
B.C. Strategy UK Ltd (Registered number: 08153977) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
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 rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Financial instruments |
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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Valuation of investments |
Investments are measured at the fair value of the portfolio investment. Gains and losses on remeasurement |
are recognised in the profit and loss in the year. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment such as provision for doubtful |
debts. |
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Creditors |
Short term creditors are measured at the transaction price. |
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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. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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B.C. Strategy UK Ltd (Registered number: 08153977) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
as restated |
£ | £ |
Trade debtors |
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Other debtors |
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Included within other debtors are amounts due from the director totalling £400,000 (2017 : £250,000). |
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6. | CURRENT ASSET INVESTMENTS |
30.6.18 | 30.6.17 |
as restated |
£ | £ |
Short-term investments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
as restated |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.18 | 30.6.17 |
as restated |
£ | £ |
Within one year |
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9. | PRIOR YEAR ADJUSTMENTS |
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In the financial statements for the year ended 30 June 2017, the current asset investments had been included |
within bank and cash. The correct value of the investment was £1,340,920. |
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In addition to this, an amount had originally been reversed in revenue during the year ended 30 June 2018 |
rather than being written off as a bad debt during the year ended 30 June 2017. An adjustment was raised to |
include this bad debt of £342,096 in the correct period. |
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An adjustment was also raised to include deferred and accrued income in the correct period. This reduced |
prior period income by £701,900. An adjustment was then raised to defer related expenses of £730,797 |
recharged from the parent company, reducing expenses and amounts due to the parent company in the prior |
period by this amount. |
B.C. Strategy UK Ltd (Registered number: 08153977) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 July 2017 |
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Prior year adjustment | ( |
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Profit for the year |
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At 30 June 2018 |
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11. | AUDITOR'S INFORMATION |
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The auditor's report on the financial statements for the year ended 30 June 2018 was unqualified and there |
were no matters to which the auditor drew attention by way of emphasis. |
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The audit report was signed by Katherine White (Senior Statutory Auditor) on behalf of Buzzacott LLP |
(Statutory Auditor), 130 Wood Street, London, EC2V 6DL. |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2018 and |
30 June 2017: |
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30.6.18 | 30.6.17 |
as restated |
£ | £ |
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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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13. | RELATED PARTY DISCLOSURES |
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Included in the accounts are consultancy fees of £7,958,848 (2017 : £3,946,694) charged by B C Strategy Ltd |
(incorporated in Israel), the parent company. These transactions were at arms length and in the ordinary |
course of business. |
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At the year end, the amount due to the parent company was £746,881 (2017 : £16,084). No interest has been |
charged. |