Respoke Limited Filleted accounts for Companies House (small and micro)

Respoke Limited Filleted accounts for Companies House (small and micro)

RESPOKE LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2017-11-01 Sage Accounts Production Advanced 2018 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 08265501 2017-11-01 2018-10-31 08265501 2018-10-31 08265501 2017-10-31 08265501 2016-11-01 2017-10-31 08265501 2017-10-31 08265501 2016-10-31 08265501 core:FurnitureFittings 2017-11-01 2018-10-31 08265501 bus:RegisteredOffice 2017-11-01 2018-10-31 08265501 bus:LeadAgentIfApplicable 2017-11-01 2018-10-31 08265501 bus:Director1 2017-11-01 2018-10-31 08265501 bus:Director4 2017-11-01 2018-10-31 08265501 bus:Director5 2017-11-01 2018-10-31 08265501 bus:Director6 2017-11-01 2018-10-31 08265501 bus:Director7 2017-11-01 2018-10-31 08265501 core:FurnitureFittings 2017-10-31 08265501 core:FurnitureFittings 2018-10-31 08265501 core:WithinOneYear 2018-10-31 08265501 core:WithinOneYear 2017-10-31 08265501 core:ShareCapital 2018-10-31 08265501 core:ShareCapital 2017-10-31 08265501 core:SharePremium 2018-10-31 08265501 core:SharePremium 2017-10-31 08265501 core:OtherReservesSubtotal 2018-10-31 08265501 core:OtherReservesSubtotal 2017-10-31 08265501 core:RetainedEarningsAccumulatedLosses 2018-10-31 08265501 core:RetainedEarningsAccumulatedLosses 2017-10-31 08265501 core:FurnitureFittings 2017-10-31 08265501 bus:SmallEntities 2017-11-01 2018-10-31 08265501 bus:AuditExemptWithAccountantsReport 2017-11-01 2018-10-31 08265501 bus:FullAccounts 2017-11-01 2018-10-31 08265501 bus:SmallCompaniesRegimeForAccounts 2017-11-01 2018-10-31 08265501 bus:PrivateLimitedCompanyLtd 2017-11-01 2018-10-31 08265501 core:ComputerEquipment 2017-11-01 2018-10-31 08265501 core:ComputerEquipment 2017-10-31 08265501 core:ComputerEquipment 2018-10-31
COMPANY REGISTRATION NUMBER: 08265501
Respoke Limited
Filleted Unaudited Financial Statements
31 October 2018
Respoke Limited
Financial Statements
Year ended 31 October 2018
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Respoke Limited
Officers and Professional Advisers
The board of directors
G B Farren
N G Brisbourne
W D Orde
A P M Dormandy
A G J Robertson
Registered office
27 Dunstable Road
Richmond
England
TW9 1RR
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Respoke Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Respoke Limited
Year ended 31 October 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2018, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Respoke Limited
Statement of Financial Position
31 October 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
5
111,962
90,594
Current assets
Stocks
1,285,576
736,318
Debtors
6
240,480
108,104
Cash at bank and in hand
1,737,567
431,754
------------
------------
3,263,623
1,276,176
Creditors: amounts falling due within one year
7
963,455
726,453
------------
------------
Net current assets
2,300,168
549,723
------------
---------
Total assets less current liabilities
2,412,130
640,317
------------
---------
Net assets
2,412,130
640,317
------------
---------
Capital and reserves
Called up share capital
341
253
Share premium account
5,984,505
2,119,942
Share-based payments reserve
51,200
8,652
Profit and loss account
( 3,623,916)
( 1,488,530)
------------
------------
Shareholders funds
2,412,130
640,317
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Respoke Limited
Statement of Financial Position (continued)
31 October 2018
These financial statements were approved by the board of directors and authorised for issue on 24 July 2019 , and are signed on behalf of the board by:
G B Farren
N G Brisbourne
Director
Director
Company registration number: 08265501
Respoke Limited
Notes to the Financial Statements
Year ended 31 October 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Dunstable Road, Richmond, England, TW9 1RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 November 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
33% straight line
Office Equipment
-
33% straight line
Website Development
-
25 % straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and nonvesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2017: 20 ).
5. Tangible assets
Fixtures and fittings
Office Equipment
Website Development
Total
£
£
£
£
Cost
At 1 November 2017
25,334
41,446
70,327
137,107
Additions
9,182
26,323
32,377
67,882
Disposals
( 685)
( 4,576)
–
( 5,261)
--------
--------
---------
---------
At 31 October 2018
33,831
63,193
102,704
199,728
--------
--------
---------
---------
Depreciation
At 1 November 2017
8,345
14,126
23,827
46,298
Charge for the year
9,056
16,021
20,343
45,420
Disposals
( 686)
( 3,266)
–
( 3,952)
--------
--------
---------
---------
At 31 October 2018
16,715
26,881
44,170
87,766
--------
--------
---------
---------
Carrying amount
At 31 October 2018
17,116
36,312
58,534
111,962
--------
--------
---------
---------
At 31 October 2017
16,989
27,320
46,500
90,809
--------
--------
---------
---------
6. Debtors
2018
2017
£
£
Trade debtors
–
90
Other debtors
240,480
108,014
---------
---------
240,480
108,104
---------
---------
7. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
697,584
468,152
Social security and other taxes
209,541
237,299
Other creditors
56,330
21,002
---------
---------
963,455
726,453
---------
---------
8. Share-based payments
The company runs an unapproved and EMI share options scheme and 121,754 (2017 : 137,330) share options were granted to 4 employees during the year and there are a total of 8 (2017 : 4) employees left in the scheme (one of whom is a director). The exercise price is £0.0001 and £0.35 per share. Details of the number of share options and details of the number and weighted average exercise prices (WAEP) of share options granted during the year are as follows:
Details of the number and weighted average exercise prices (WAEP) of share options during the year are as follows:
2018
2017
No.
WAEP
No.
WAEP
Outstanding at 1 November 2017
137,330
0.20
–
0.06
Granted during the year
121,754
0.20
137,330
0.06
Exercised during the year
–
0.20
–
0.06
---------
-----
---------
-----
Outstanding at 31 October 2018
259,084
0.20
137,330
0.06
---------
-----
---------
-----
The total expense recognised in profit or loss for the year is as follows:
2018
2017
£
£
Equity-settled share-based payments
42,548
8,652
--------
-------
9. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 November 2016.
No transitional adjustments were required in equity or profit or loss for the year.