Supportis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04969146 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

SUPPORTIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

7

DIRECTORS:

N D Garner

D Thakrar

F D Armstrong

SECRETARY:

N D Garner

REGISTERED OFFICE:

No 1 Lakeside

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3GW

REGISTERED NUMBER:

04969146 (England and Wales)

AUDITORS:

Allens Accountants Limited

Statutory Auditor and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

11,269

-

CURRENT ASSETS

Debtors

5

183,266

211,614

Cash at bank

-

445

183,266

212,059

CREDITORS

Amounts falling due within one year

6

396,445

402,155

NET CURRENT LIABILITIES

(213,179

)

(190,096

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(201,910

)

(190,096

)

PROVISIONS FOR LIABILITIES

8

2,141

-

NET LIABILITIES

(204,051

)

(190,096

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(204,053

)

(190,098

)

SHAREHOLDERS' FUNDS

(204,051

)

(190,096

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 12 August 2019 and were signed on its behalf by:

N D Garner - Director

1.	STATUTORY INFORMATION

Supportis 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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future and will continue to have the support of the group. The directors have

reached this conclusion giving due consideration to the projected future performance of the company and any

potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they

continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates

Preparation of the financial statements can require management to make significant judgements, estimates and

assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts

reported for revenues and expenses for the year. However, the nature of estimation means that actual outcomes

could differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if revision only affects that period, or in the period

of the revision and future periods if the revision affects both current and future periods.

In the opinion of management there are no significant judgements or estimates required in the preparation of the

financial statements.

Turnover

Turnover is measured at the fair value of the consideration receivable and represents the total amount receivable

by the company for services provided in the normal course of business, excluding value added tax and trade

discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount.If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in

profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest rate method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits deposits with banks and other

short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the

statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using

the effective interest method.

Interest bearing borrowings

Interest bearing borrowing are recognised initially at fair value less attributable transaction costs. Subsequent to

initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the

amount initially recognised and redemption value being recognised in the statement of comprehensive income

over the period of the borrowings, together with any interest and fees payable, using the effective interest

method.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the Company after deducting all of its liabilities.

The company enters into basic financial instrument transactions that result in the recognition of financial assets

and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties,

together with loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other

accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at

amortised cost using the effective interest method. Debt instruments that are payable or receivable in one year,

typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of

cash or other consideration, expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence if impairment is found, an impairment loss is recognised

in the statement of comprehensive income.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

11,502

At 31 December 2018

11,502

DEPRECIATION

Charge for year

233

At 31 December 2018

233

NET BOOK VALUE

At 31 December 2018

11,269

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Trade debtors

159,941

208,559

Other debtors

23,325

3,055

183,266

211,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Bank loans and overdrafts

34,538

-

Trade creditors

128,103

4,287

Amounts owed to group undertakings

115,000

190,823

Taxation and social security

9,379

20,386

Other creditors

109,425

186,659

396,445

402,155

7.	SECURED DEBTS

The company's bankers hold a fixed and floating charge over all assets of the company.

The company has given an unlimited cross company guarantee dated 2 June 2016 to the company's bankers in

respect of all group undertakings.

8.	PROVISIONS FOR LIABILITIES

31/12/18

31/12/17

£

£

Deferred tax

Accelerated capital allowances

2,141

-

Deferred

tax

£

Provided during year

2,141

Profit & loss charge for year

Balance at 31 December 2018

2,141

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/18

31/12/17

value:

£

£

2

Ordinary

£1

2

2

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Wright (Senior Statutory Auditor)

for and on behalf of Allens Accountants Limited

11.	CONTINGENT LIABILITIES

The company is a member of a group registration for Value Added Tax purposes. Under the terms of the

registration, each member is jointly and severally liable for the Value Added Tax liability for all members.

The group liability at the year end was £99,081 (2017: £145,407).

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N D Garner.

14.	ULTIMATE PARENT COMPANY

The largest group in which the results are consolidated is that headed by its immediate and ultimate holding

company, Drive Further Limited, incorporated and registered in England and Wales.