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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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BRIT SERVICES (TECHNOLOGY) LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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for |
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BRIT SERVICES (TECHNOLOGY) LIMITED |
BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Contents of the Financial Statements |
for the Year Ended 31 December 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 | 4 |
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BRIT SERVICES (TECHNOLOGY) LIMITED |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ground Floor |
1 Baker's Row |
London |
EC1R 3DB |
BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Prepayments and accrued income |
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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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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Balance Sheet - continued |
31 December 2018 |
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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 on
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BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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BRIT SERVICES (TECHNOLOGY) 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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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Depreciation is provided at the following rate in order to write off each asset over its estimated useful |
life. |
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Office equipment 25% on the reducing balance |
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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. |
BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development |
Expenditure on pure and applied research are written off in the year of expenditure through the profit |
and loss account. Development costs are written off in the year of expenditure except in the following |
circumstances when it may be capitalised. |
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There is a clearly defined project, the related expenditure is separately identifiable, the outcome of |
such a project has been assessed with reasonable certainty as to its technical feasibility and its ultimate |
commercial viability considered in the light of factors such as likely market conditions, public opinion, |
consumer and environment legislation, the aggregate of the development cost and other related |
production, selling and administration costs is expected to be exceeded by future revenues and |
adequate resources exit and available to enable the project to be completed and to provide any |
consequential increases in working capital. |
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Development costs incurred for the production of licences software are capitalised once it is technically |
feasible for the base technology to be used ad part of a saleable product. On 31st December 2014 the |
director carried out an impairment review to re-appraise the development project and consider the |
resulting intangible fixed asset to have an estimated useful life of 3 years commencing from 1st |
January 2015. Any subsequent major additions are also considered to have an estimated useful life of 3 |
years. |
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Going concern basis |
The financial statements have been prepared on a going concern basis which is dependent upon the |
company's director continuing to provide the necessary financial facilities to enable the company to |
continue in operation for the foreseeable future. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 -
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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BRIT SERVICES (TECHNOLOGY) LIMITED (Registered number: 08240630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Office |
Equipment |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Other debtors |
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7. | RELATED PARTY TRANSACTIONS |
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During the year the company was provided with a loan of £130,896 (2016: £131,796) to Britech |
Consultoria E Tecnologia, a UK branch of the parent company. |
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8. | ULTIMATE CONTROLLING PARTY |
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Brit Services Conansultoria EM Technologia Ltda, a company in Brazil, controls the company by virtue |
of a controlling interest of 100% of the issued ordinary share capital. |