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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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LAUNCHPAD ASSISTIVE TECHNOLOGY LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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FOR |
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LAUNCHPAD ASSISTIVE TECHNOLOGY LTD |
LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2018 |
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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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LAUNCHPAD ASSISTIVE TECHNOLOGY LTD |
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COMPANY INFORMATION |
for the Year Ended 30 November 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12 Market Street |
Hebden Bridge |
West Yorkshire |
HX7 6AD |
LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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BALANCE SHEET |
30 November 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
9 |
( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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BALANCE SHEET - continued |
30 November 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 Board of Directors on
its behalf by: |
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LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 November 2018 |
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1. | STATUTORY INFORMATION |
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Launchpad Assistive Technology Ltd is a
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England and Wales. The company's 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A " |
Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in |
the UK and Republic of Ireland" and the Companies Acts 2006. The financial statements have been |
prepared under the historical cost convention. |
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The financial statements are presented in sterling which is the functional currency of the company |
and rounded to the nearest £. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being |
amortised evenly over its estimated useful life of five years |
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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 |
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Plant and machinery etc | - |
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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. |
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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. |
LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2018 |
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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. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 December 2017 |
and 30 November 2018 |
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AMORTISATION |
At 1 December 2017 |
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Amortisation for year |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 December 2017 |
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Additions |
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Disposals | ( |
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At 30 November 2018 |
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DEPRECIATION |
At 1 December 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 December 2017 |
and 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Directors' current accounts | 39,761 | - |
Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
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Tax |
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Directors' current accounts | - | 2,598 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other loans - 1-2 years | 10,795 |
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Other loans - 2-5 years | 26,170 |
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10. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 237 | 306 |
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Deferred |
tax |
£ |
Balance at 1 December 2017 |
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Credit to Income Statement during year | ( |
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Balance at 30 November 2018 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary A | £1 | 5 | 5 |
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Ordinary B | £1 | 5 | 5 |
10 | 10 |
LAUNCHPAD ASSISTIVE TECHNOLOGY LTD (REGISTERED NUMBER: 08618744) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 November 2018 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1 December 2017 |
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Profit for the year |
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Dividends | ( |
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At 30 November 2018 |
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the year ended |
30 November 2018 and the period ended 30 November 2017: |
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2018 | 2017 |
£ | £ |
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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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The maximum balance outstanding on the loan during the year was £43,681. |
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14. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £16,000 (2017 - £10,000) were paid to the directors . |