Company Registration No. 10548841 (England and Wales)
AGILYSIS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
AGILYSIS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
Notes
£
£
Fixed assets
Intangible assets
3
50,295
Tangible assets
4
3,163
Current assets
Debtors
5
129,391
Cash at bank and in hand
46,372
175,763
Creditors: amounts falling due within one year
6
(149,325)
Net current assets
26,438
Total assets less current liabilities
79,896
Capital and reserves
Called up share capital
7
10,000
Profit and loss reserves
69,896
Total equity
79,896
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 13 September 2018 and are signed on its behalf by:
Bruce Walton
Daniel Campsall
Director
Director
Company Registration No. 10548841
AGILYSIS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2018
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 31 March 2018:
Profit and total comprehensive income for the period
-
133,536
133,536
Issue of share capital
7
10,000
-
10,000
Dividends
-
(63,640)
(63,640)
Balance at 31 March 2018
10,000
69,896
79,896
AGILYSIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Agilysis Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
27 Horsefair, Banbury, Oxon, OX16 0AE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual property rights
Over ten years
No amortisation has been charged on the intellectual property rights acquired in the period ended 31 March 2018. No impairment to the intellectual property rights occurred in the period ended 31 March 2018.
AGILYSIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
over three years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
AGILYSIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 12.
AGILYSIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2018
- 6 -
3
Intangible fixed assets
Intellectual property rights
£
Cost
At 5 January 2017
-
Additions
50,295
At 31 March 2018
50,295
Amortisation and impairment
At 5 January 2017 and 31 March 2018
-
Carrying amount
At 31 March 2018
50,295
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 5 January 2017
-
Additions
5,523
Disposals
(779)
At 31 March 2018
4,744
Depreciation and impairment
At 5 January 2017
-
Depreciation charged in the period
1,581
At 31 March 2018
1,581
Carrying amount
At 31 March 2018
3,163
5
Debtors
2018
Amounts falling due within one year:
£
Trade debtors
110,023
Other debtors
19,368
129,391
AGILYSIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2018
- 7 -
6
Creditors: amounts falling due within one year
2018
£
Trade creditors
27,330
Other taxation and social security
30,918
Other creditors
91,077
149,325
7
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
100,000 ordinary shares of 10p each
10,000
10,000
The company was incorporated on 5 January 2017, when the company issued 100,000 ordinary shares of 10p each, at par value to the subscribers.
8
Related party transactions
Dan Campsall, Richard Owen and Bruce Walton who are directors and shareholders of Agilysis Limited are also directors and members of Road Safety Analysis Limited.
During the period Agilysis Limited charged Road Safety Analysis Limited £333,829 for goods and services provided. As at 31 March 2018 Road Safety Analysis Limited owed Agilysis Limited £53,782.
During the period Road Safety Analysis Limited charged Agilysis Limited £94,795 for goods and services provided. As at 31 March 2018 Agilysis Limited owed Road Safety Analysis Limited £19,800.
Dan Campsall and Richard Owen are also directors and shareholders of Insight Warehouse Limited.
During the period Insight Warehouse Limited charged Agilysis Limited £2,126 for goods and services provided. As at 31 March 2018 Agilysis Limited owed Insight Warehouse Limited £357.
9
Controlling party
Since incorporation the company has been controlled by two of the directors, Daniel Campsall and Richard Owen, by virtue that they own a majority of the company's issued share capital.