REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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ACTIONABLE INTELLIGENCE LTD. |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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ACTIONABLE INTELLIGENCE LTD. |
ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
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Statement of financial position | 1 |
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Notes to the financial statements | 2 | to | 5 |
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ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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STATEMENT OF FINANCIAL POSITION |
31 December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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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 Board of Directors and authorised for issue on
and were signed on its behalf by: |
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ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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ACTIONABLE INTELLIGENCE LTD. is a
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and Wales. The company's registered number and registered office address are as below: |
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Registered number: | 09369795 |
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Registered office: | 8 Charles Avenue |
Chilwell |
Beeston |
Nottinghamshire |
NG9 5EE |
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The principal activity of the company during the year was that of other information technology |
services and healthcare training activities. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates |
and assumptions that affect the amounts reported. These estimates and judgements are continually |
reviewed and are based on experience and other factors, including expectations of future events that |
are believed to be reasonable under the circumstances. |
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Key sources of estimation uncertainty |
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Accounting estimates and assumptions are made concerning the future and, by their nature, will |
rarely equal the related actual outcome. The key assumptions and other sources of estimation |
uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of |
assets and liabilities within the next financial year are as described below. |
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As described in the accounting policies of the financial statements, depreciation of tangible fixed |
assets has been based on estimated useful lives and residual values deemed appropriate by the |
directors. Estimated useful lives and residual values are reviewed annually and revised as |
appropriate. Revisions take in to account actual asset lives and residual values as evidenced by |
disposals during current and prior accounting periods. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable and represents |
amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
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Revenue from the rendering of services is measured by reference to the stage of completion of the |
service transaction at the end of the reporting period provided that the outcome can be reliably |
estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent |
that expenses recognised are recoverable. |
ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Computer equipment | - |
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Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at |
the fair value at the date of revaluation less any subsequent accumulated depreciation and |
subsequent accumulated impairment losses. |
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An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other |
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation |
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount |
of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of |
any previously recognised revaluation increase accumulated in equity in respect of that asset. Where |
a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect |
of that asset, the excess shall be recognised in profit or loss. |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the |
contractual provisions of the instrument. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
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Debt instruments are subsequently measured at amortised cost. |
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Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
impairment at the end of each reporting date. If there is objective evidence of impairment, an |
impairment loss is recognised in profit or loss immediately. |
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For all equity instruments regardless of significance, and other financial assets that are individually |
significant, these are assessed individually for impairment. Other financial assets are either assessed |
individually or grouped on the basis of similar credit risk characteristics. |
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Any reversals of impairment are recognised in profit or loss immediately, to the extent that the |
reversal does not result in a carrying amount of the financial asset that exceeds what the carrying |
amount would have been had the impairment not previously been recognised. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, 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 statement of financial position date. |
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ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position 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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Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable |
amount being estimated where such indicators exist. Where the carrying value exceeds the |
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for |
possible reversal at each reporting date. |
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For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of |
an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to |
which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that |
includes the asset and generates cash inflows that largely independent of the cash inflows from other |
assets or groups of assets. |
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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 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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ACTIONABLE INTELLIGENCE LTD. (Registered number: 09369795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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Tax |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Tax |
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Directors' loan accounts | 16,602 | 6,504 |
Accruals and deferred income |
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7. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
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There were no significant events up to 7 April 2020 being the date of approval of the financial |
statements by the Board. |