Registration number:
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
for the Period from 30 June 2016 to 30 June 2017
56 King Street
Aberdeen
AB24 5AX
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Company Information
Directors |
Mr Paul Edge Mr Simon Smith |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
for the Period Ended 30 June 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD for the period ended 30 June 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com/members/.
This report is made solely to the Board of Directors of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD and state those matters that we have agreed to state to the Board of Directors of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD, as a body, in this report in accordance with CIMA. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SABRE ADVANCED 3D SURVEYING SYSTEMS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SABRE ADVANCED 3D SURVEYING SYSTEMS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD. You consider that SABRE ADVANCED 3D SURVEYING SYSTEMS LTD is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of SABRE ADVANCED 3D SURVEYING SYSTEMS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Aberdeen
AB24 5AX
Page 2 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
(Registration number: SC539254)
Balance Sheet as at 30 June 2017
Note |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
( |
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Provisions for liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
For the financial period ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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.
Page 3 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
(Registration number: SC539254)
Balance Sheet as at 30 June 2017
Approved and authorised by the
.........................................
Mr Paul Edge
Director
.........................................
Mr Simon Smith
Director
Page 4 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Notes to the Financial Statements for the Period from 30 June 2016 to 30 June 2017
General information |
The company is a private company limited by share capital incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
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 have been prepared in accordance with Financial Reporting Standard 102 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.
Going concern
As at the balance sheet date, the company's liabilities exceeded its assets by £43,927. The company meets its day to day working capital requirements from sales income and directors' loans. The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to amend the balance sheet values to their recoverable amounts and to provide for further liabilities that may arise. The directors believe that the financial statements should be prepared on a going concern basis.
Tangible assets
Tangible assets are stated in the statement of financial position 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.
Page 5 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Notes to the Financial Statements for the Period from 30 June 2016 to 30 June 2017
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 |
Plant and Machinery |
20% reducing balance |
Fixtures and fittings |
20% reducing balance |
Computer equipment |
25% reducing balance |
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 |
Software and Licences |
5% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 6 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Notes to the Financial Statements for the Period from 30 June 2016 to 30 June 2017
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Intangible assets |
Internally generated software development costs |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 30 June 2017 |
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Amortisation |
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Amortisation charge |
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At 30 June 2017 |
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Carrying amount |
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At 30 June 2017 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil.
Page 7 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Notes to the Financial Statements for the Period from 30 June 2016 to 30 June 2017
Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 June 2017 |
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Depreciation |
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Charge for the |
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At 30 June 2017 |
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Carrying amount |
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At 30 June 2017 |
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Debtors |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Loans and borrowings |
Page 8 |
SABRE ADVANCED 3D SURVEYING SYSTEMS LTD
Notes to the Financial Statements for the Period from 30 June 2016 to 30 June 2017
2017 |
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Current loans and borrowings |
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Other borrowings |
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Related party transactions |
Transactions with directors |
2017 |
Advances to directors |
Repayments by director |
At 30 June 2017 |
Mr Paul Edge |
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During the period the director provided the company with an interest free loan, which is unsecured, repayable on demand and shown under Other Creditors. |
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( |
( |
Mr Simon Smith |
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During the period the director provided the company with an interest free loan, which is unsecured, repayable on demand and shown under Other Creditors. |
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( |
( |
Page 9 |