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

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COMPANY REGISTRATION NUMBER: 04823119

Comunis Limited

Filleted Unaudited Financial Statements

31 July 2018

Comunis Limited

Statement of Financial Position

31 July 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	4	279,185	373,092
Tangible assets	5	2,781	2,209
		---------	---------
		281,966	375,301

Current assets

Debtors	6	148,552	195,407
Cash at bank and in hand		117,842	24,882
		---------	---------
		266,394	220,289

Creditors: amounts falling due within one year	7	247,643	432,739
		---------	---------
Net current assets/(liabilities)		18,751	( 212,450)
		---------	---------
Total assets less current liabilities		300,717	162,851
		---------	---------
Net assets		300,717	162,851
		---------	---------

Capital and reserves

Called up share capital	156	156
Share premium account	344,310	344,310
Profit and loss account	( 43,749)	( 181,615)
	---------	---------
Shareholders funds	300,717	162,851
	---------	---------

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 July 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 .

Comunis Limited

Statement of Financial Position (continued)

31 July 2018

These financial statements were approved by the board of directors and authorised for issue on 27 November 2018 , and are signed on behalf of the board by:

Mr N J Beale

Director

Company registration number: 04823119

Comunis Limited

Accounting Policies

Year ended 31 July 2018

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Revenue recognition

Turnover represents the value, net of Value Added Tax, of services provided to customers. Revenue of a license nature is recognised evenly over the period to which it relates. To the extent that revenue of a license nature relates to a period after the year end, the appropriate amount is shown in creditors as Other Creditors. Revenue derived from special projects, implementation and consultancy services is recognised in the period in which the services are provided.

Intangible assets

Development costs are capitalised to the extent that they fit the requirements of Statement of Standard Accounting Practice Number 13 (SSAP13). Costs are written off over the expected life of each specific module, commencing when the relevant module becomes operational. Expected useful lives vary between 24 and 60 months depending on the nature of the specific module.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development Costs	-	Over life of projects

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

The company is continually striving to enhance its products and to develop new products. Costs relating to these activities are written off in the year in which they are incurred, unless they meet the criteria set out under the heading of intangible assets.

Tangible assets

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.

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:

	Office Equipment	-	Over 2-3 years

Defined contribution plans

Contributions are made to defined contribution plans of employees in accordance with auto-enrolment regulations. Contributions are charged to the profit and loss account in the period to which they relate.

Comunis Limited

Notes to the Financial Statements

Year ended 31 July 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 1st Floor, Crystal Gate, 28-30 Worship Street, London, EC2A 2AH.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 3 ).

4. Intangible assets

	Development costs
	£
Cost
At 1 August 2017	1,212,963
Additions	115,700
Disposals	( 235,804)
	------------
At 31 July 2018	1,092,859
	------------
Amortisation
At 1 August 2017	839,871
Charge for the year	209,607
Disposals	( 235,804)
	------------
At 31 July 2018	813,674
	------------
Carrying amount
At 31 July 2018	279,185
	------------
At 31 July 2017	373,092
	------------

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 August 2017	19,996	19,996
Additions	1,172	1,172
	--------	--------
At 31 July 2018	21,168	21,168
	--------	--------
Depreciation
At 1 August 2017	17,787	17,787
Charge for the year	600	600
	--------	--------
At 31 July 2018	18,387	18,387
	--------	--------
Carrying amount
At 31 July 2018	2,781	2,781
	--------	--------
At 31 July 2017	2,209	2,209
	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	135,447	139,188
Other debtors	13,105	56,219
	---------	---------
	148,552	195,407
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	2,311	24,432
Social security and other taxes	28,863	41,807
Other loans	13,563	129,842
Other creditors	202,906	236,658
	---------	---------
	247,643	432,739
	---------	---------

Other loans includes short-term loans of £Nil (2017 : £35,231) from the company’s shareholders, of which £Nil (2017 : £25,000) bears interest at the rate of 2% per annum over base, plus £13,563 (2017 : £72,006) in respect of crowd funding. Other creditors includes £9,069 (2017 : £13,867) which is due to the directors, of which £Nil (2017 : £4,691) bears interest at the rate of 2% per annum over base.

8. Related party transactions

With the exception of matters referred to in other notes to the financial statements, there were no related party transactions which were not conducted on normal commercial terms.