SBC Systems (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05191492 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

SBC Systems (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Markham

A McNeill

S Milligan

S Liptrap

SECRETARY:

D J Markham

REGISTERED OFFICE:

Portsoken House

155-157 Minories

London

EC3N 1LJ

REGISTERED NUMBER:

05191492 (England and Wales)

ACCOUNTANTS:

Forbes Young

Tax Advisers and

Accountants

Suite W15

Third Floor

575-599 Maxted Road

Hemel Hempstead

Hertfordshire

HP2 7ED

FIXED ASSETS

Investments

4

528

311,811

CURRENT ASSETS

Debtors

5

241,033

900,764

Cash at bank

1,527,025

451,869

1,768,058

1,352,633

CREDITORS

Amounts falling due within one year

6

982,076

1,002,114

NET CURRENT ASSETS

785,982

350,519

TOTAL ASSETS LESS CURRENT LIABILITIES

786,510

662,330

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

31,998

31,998

Retained earnings

754,510

630,330

SHAREHOLDERS' FUNDS

786,510

662,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 June 2019 and were signed on its behalf by:

D J Markham - Director

A McNeill - Director

1.	STATUTORY INFORMATION

SBC Systems (UK) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 15 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 January 2018

311,811

Additions

528

Revaluations

(311,811

)

At 31 December 2018

528

NET BOOK VALUE

At 31 December 2018

528

At 31 December 2017

311,811

Cost or valuation at 31 December 2018 is represented by:

Shares in

group

undertakings

£

Valuation in 2018

528

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

178,146

833,258

Prepayments and accrued income

62,887

67,506

241,033

900,764

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

60,361

122,898

Tax

29,343

7,845

Social security and other taxes

18,312

-

VAT

81,721

115,188

Other creditors

2,925

1,416

Deferred income

507,103

381,708

Accrued expenses

282,311

373,059

982,076

1,002,114