Human Factors (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01735439 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2019

for

HUMAN FACTORS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

Dr C L Atkinson

Dr A P C Atkinson

C N Atkinson

REGISTERED OFFICE:

337 Bath Road

Slough

Berkshire

SL1 5PR

BUSINESS ADDRESS:

25 Finsbury Square

City of London

London

EC2M 7EE

REGISTERED NUMBER:

01735439 (England and Wales)

ACCOUNTANTS:

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

FIXED ASSETS

Intangible assets

5

161,736

4,800

Tangible assets

6

-

1,869

161,736

6,669

CURRENT ASSETS

Debtors

7

252,150

219,814

Cash at bank and in hand

10,132

14,711

262,282

234,525

CREDITORS

Amounts falling due within one year

8

245,378

197,520

NET CURRENT ASSETS

16,904

37,005

TOTAL ASSETS LESS CURRENT LIABILITIES

178,640

43,674

CREDITORS

Amounts falling due after more than one year

9

128,066

366,548

NET ASSETS/(LIABILITIES)

50,574

(322,874

)

CAPITAL AND RESERVES

Called up share capital

10

320,002

20,002

Retained earnings

(269,428

)

(342,876

)

SHAREHOLDERS' FUNDS

50,574

(322,874

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 applicable to companies subject to the small companies regime.

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 27 January 2020 and were signed on its behalf by:

Dr A P C Atkinson - Director

Dr C L Atkinson - Director

1.	STATUTORY INFORMATION

Human Factors (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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Management make estimates and assumptions concerning the future. The resulting accounting

estimates and judgements by definition, seldom equal the related actual results. There are no estimates

and assumptions that have a significant risk of causing material adjustment to the carrying amounts of

assets and liabilities within the next financial period.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life on 10 years.

Tangible fixed assets

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

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial

assets and liabilities.

Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan

receivable are measured initially at transaction price, net of transaction costs and are subsequently

measured at fair value using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of withdrawal. Cash equivalents are readily convertible to known amounts of cash with

insignificant risk of change in value.

Short term creditors are measured at transaction price. Long term creditors and loans are measured

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

the effective interest method.

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

and other accounts receivable and payable, are initially measured at present value of the future cash

flows and subsequently at amortised cost using the effective interest method.

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.

Research and development

Development costs are capitalised where they are clearly identifiable to an ongoing project.

Development costs will be amortised over their economic life when income streams are generated.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2018

6,000

Additions

157,536

At 31 July 2019

163,536

AMORTISATION

At 1 August 2018

1,200

Charge for year

600

At 31 July 2019

1,800

NET BOOK VALUE

At 31 July 2019

161,736

At 31 July 2018

4,800

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

313,418

Disposals

(55,178

)

At 31 July 2019

258,240

DEPRECIATION

At 1 August 2018

311,549

Charge for year

1,869

Eliminated on disposal

(55,178

)

At 31 July 2019

258,240

NET BOOK VALUE

At 31 July 2019

-

At 31 July 2018

1,869

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

135,754

136,512

Other debtors

116,396

83,302

252,150

219,814

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Bank loans and overdrafts

14,262

-

Trade creditors

83,068

57,347

Taxation and social security

12,506

19,375

Other creditors

135,542

120,798

245,378

197,520

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Other creditors

128,066

366,548

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

700,080

A Ordinary

2p

14,002

14,002

300,020

B Ordinary

2p

6,000

6,000

300,000

Ordinary redeemable

£1

300,000

-

320,002

20,002

Allotted and issued:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

300,000

Ordinary redeemable

£1

300,000

-

The following shares were issued during the year for cash at par :

300,000 Ordinary redeemable shares of £1

Ordinary redeemable shares issued during the year amounted to £300,000. The Ordinary Redeemable

shares shall be redeemable at par on not less than six months notice from the holders of the Ordinary

Shares in the Company and shall be non-voting shares, shall hold no rights of capital distribution,

save for the rights on redemption and save that the holders.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Human Factors (UK) Limited for the year ended 31 July 2019 which

comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Human Factors (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Human Factors (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Human Factors (UK) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Human Factors (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Human Factors (UK) Limited. You consider that Human Factors (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Human Factors (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

27 January 2020