Webster Buchanan Research Limited Filleted accounts for Companies House (small and micro)

WEBSTER BUCHANAN RESEARCH LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-01-01 Sage Accounts Production Advanced 2018 Update 1 - FRS 1,830 640 2,470 1,830 213 2,043 427 620 620 620 xbrli:pure xbrli:shares iso4217:GBP 04287748 2018-01-01 2018-12-31 04287748 2018-12-31 04287748 2017-12-31 04287748 2017-01-01 2017-12-31 04287748 2017-12-31 04287748 bus:OrdinaryShareClass1 2018-01-01 2018-12-31 04287748 bus:Director1 2018-01-01 2018-12-31 04287748 core:WithinOneYear 2018-12-31 04287748 core:WithinOneYear 2017-12-31 04287748 core:ShareCapital 2018-12-31 04287748 core:ShareCapital 2017-12-31 04287748 core:RetainedEarningsAccumulatedLosses 2018-12-31 04287748 core:RetainedEarningsAccumulatedLosses 2017-12-31 04287748 core:CostValuation core:Non-currentFinancialInstruments 2018-12-31 04287748 core:Non-currentFinancialInstruments 2018-12-31 04287748 core:Non-currentFinancialInstruments 2017-12-31 04287748 bus:SmallEntities 2018-01-01 2018-12-31 04287748 bus:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 04287748 bus:FullAccounts 2018-01-01 2018-12-31 04287748 bus:SmallCompaniesRegimeForAccounts 2018-01-01 2018-12-31 04287748 bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 04287748 bus:OrdinaryShareClass1 2018-12-31 04287748 bus:OrdinaryShareClass1 2017-12-31 04287748 core:OfficeEquipment 2018-01-01 2018-12-31 04287748 core:OfficeEquipment 2017-12-31 04287748 core:OfficeEquipment 2018-12-31

COMPANY REGISTRATION NUMBER: 04287748

WEBSTER BUCHANAN RESEARCH LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2018

WEBSTER BUCHANAN RESEARCH LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2018

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 5

WEBSTER BUCHANAN RESEARCH LIMITED

BALANCE SHEET

31 December 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	427	–
Investments	6	620	620
		------------	------------
		1,047	620

Current assets

Debtors	7	22,535	14,741
Cash at bank and in hand		2,084	530
		------------	------------
		24,619	15,271

Creditors: amounts falling due within one year	8	( 23,061)	( 43,585)
		------------	------------
Net current assets/(liabilities)		1,558	( 28,314)
		------------	------------
Total assets less current liabilities		2,605	( 27,694)
		------------	------------
Net assets/(liabilities)		2,605	( 27,694)
		------------	------------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		2,505	( 27,794)
		------------	------------
Shareholders funds/(deficit)		2,605	( 27,694)
		------------	------------

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 profit and loss account has not been delivered.

For the year ending 31 December 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 .

These financial statements were approved by the board of directors and authorised for issue on 30 September 2019 , and are signed on behalf of the board by:

K D J Rodgers

Director

Company registration number: 04287748

WEBSTER BUCHANAN RESEARCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 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 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

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 company and its subsidiary undertakings represent a small group and group accounts are not required.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Tangible assets

	Office equipment	Total
	£	£
Cost
At 1 January 2018	1,830	1,830
Additions	640	640
	------------	------------
At 31 December 2018	2,470	2,470
	------------	------------
Depreciation
At 1 January 2018	1,830	1,830
Charge for the year	213	213
	------------	------------
At 31 December 2018	2,043	2,043
	------------	------------
Carrying amount
At 31 December 2018	427	427
	------------	------------
At 31 December 2017	–	–
	------------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2018 and 31 December 2018	620
	------------
Impairment
At 1 January 2018 and 31 December 2018	–
	------------

Carrying amount
At 31 December 2018	620
	------------
At 31 December 2017	620
	------------

The company's investments in its subsidiary undertakings represent cost of acquisition of the whole of the ordinary share capital of Webster Buchanan Research Inc, registered in the USA.

The directors do not consider that any impairment provision is required to reduce the cost of investments to net realisable value.

7. Debtors

	2018	2017
	£	£
Trade debtors	2,875	14,741
Amounts owed by group undertakings	15,782	–
Other debtors	3,878	–
	------------	------------
	22,535	14,741
	------------	------------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	2,479	7,915
Amounts owed to group undertakings	–	1,548
Accruals and deferred income	4,414	4,490
Social security and other taxes	1,551	4,077
Director loan accounts	14,617	25,555
	------------	------------
	23,061	43,585
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100.00	100	100.00
	------------	------------	------------	------------

10. Related party transactions

The directors' loan accounts of £14,617 (2017: £25,555) set out above were unsecured, repayable on demand and currently interest-free. Control of the company During the year the company was controlled by Mr K D J Rodgers , a director, who with his family, hold 80% of the issued ordinary share capital.