Registration number:
for the Year Ended
Activ Emea Ltd
(Registration number: 08123976)
Balance Sheet as at 30 June 2020
Note |
2020 |
2019 |
|||
£ |
£ |
£ |
£ |
||
Fixed assets |
|||||
Intangible assets |
- |
|
|||
Tangible assets |
- |
- |
|||
- |
|
||||
Current assets |
|||||
Debtors |
|
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts falling due within one year |
( |
( |
|||
Net current assets/(liabilities) |
|
( |
|||
Total assets less current liabilities |
|
|
|||
Creditors: Amounts falling due after more than one year |
( |
- |
|||
Provisions for liabilities |
- |
( |
|||
Net (liabilities)/assets |
( |
|
|||
Capital and reserves |
|||||
Called up share capital |
|
|
|||
Profit and loss account |
( |
|
|||
Total equity |
( |
|
Activ Emea Ltd
(Registration number: 08123976)
Balance Sheet as at 30 June 2020
For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 including the disclosure and presentation requirements of Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company's functional and presentation currency is pound sterling.
Going concern
Although the balance sheet shows a net liability position, the shareholders have indicated that they will continue to support the company, accordingly, the directors have prepared the financial statements on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
50% reducing balance basis |
Development costs
The reason for capitalising the development costs were that they are expected to have a useful life of 5 years. The costs have been capitalised and written off over their expected useful life.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks, patents and licences |
100% straight line basis |
Development costs |
20% straight line basis |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Intangible assets |
Trademarks, patents and licenses |
Development costs |
Total |
|
Cost or valuation |
|||
At 1 July 2019 |
|
|
|
Additions |
- |
|
|
Disposals |
- |
( |
( |
At 30 June 2020 |
|
- |
|
Amortisation |
|||
At 1 July 2019 |
|
|
|
Amortisation charge |
- |
|
|
Amortisation eliminated on disposals |
- |
( |
( |
At 30 June 2020 |
|
- |
|
Carrying amount |
|||
At 30 June 2020 |
- |
- |
- |
At 30 June 2019 |
- |
|
|
Tangible assets |
Office equipment |
Total |
|
Cost or valuation |
||
At 1 July 2019 |
|
|
At 30 June 2020 |
|
|
Depreciation |
||
At 1 July 2019 |
|
|
At 30 June 2020 |
|
|
Carrying amount |
||
At 30 June 2020 |
- |
- |
At 30 June 2019 |
- |
- |
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Debtors |
2020 |
2019 |
|
Trade debtors |
|
|
Other debtors |
|
- |
|
|
Creditors |
Note |
2020 |
2019 |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Trade creditors |
- |
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Note |
2020 |
2019 |
|
Due after one year |
|||
Loans and borrowings |
|
- |
2020 |
2019 |
|
Due after more than five years |
||
After more than five years by instalments |
|
- |
- |
- |
Activ Emea Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Loans and borrowings |
2020 |
2019 |
|
Current loans and borrowings |
||
Bank borrowings |
|
- |
2020 |
2019 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
- |
Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |