Fairscore Ltd - Accounts to registrar (filleted) - small 18.2
Fairscore Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2020 |
| FOR |
| FAIRSCORE LTD |
| FAIRSCORE LTD (REGISTERED NUMBER: 10868865) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FAIRSCORE LTD |
| COMPANY INFORMATION |
| for the year ended 31 July 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| FAIRSCORE LTD (REGISTERED NUMBER: 10868865) |
| BALANCE SHEET |
| 31 July 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Share premium |
| Equity on convertible loans |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| FAIRSCORE LTD (REGISTERED NUMBER: 10868865) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2020 |
| 1. | STATUTORY INFORMATION |
| Fairscore Ltd is a limited company, registered in England and Wales. Its registered office address is 20-22 Wenlock Road, London, N1 7GU and the registered number is 10868865. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is the Pound Sterling £. |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
| Rendering of goods and services |
| Revenue from a contract to provide goods and services is recognised in the period in which the goods and services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Financial instruments |
| (i) Financial assets |
| Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at |
| transaction price, unless the arrangement constitutes as financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Such assets are subsequently carried at amortised cost using the effective interest rate method. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| FAIRSCORE LTD (REGISTERED NUMBER: 10868865) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Operating leases |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| FAIRSCORE LTD (REGISTERED NUMBER: 10868865) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2020 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal value: | 2020 | 2019 |
| £ | £ |
| 159,141 | Ordinary | 0.001p | 2 | 2 |
| 96,846 | VV | 0.001p | 1 | 1 |
| 3 | 2 |
| On 4 February 2020, 24,491 Ordinary shares of £0.00001 each were allotted, issued and fully paid at a premium of £17.35 per share. |
| On 3 March 2020, 1,153 Ordinary shares of £0.00001 each were allotted, issued and fully paid at a premium of £17.35 per share. |
| On 20 February 2020, 36,370 VV shares of £0.00001 each bonus shares were allotted. |
| On 23 February 2020, 2,787 VV shares of £0.00001 each bonus shares were allotted. |
| On 27 February 2020, 3,724 VV shares of £0.00001 each bonus shares were allotted. |
| On 5 June 2020, 25,000 VV shares of £0.00001 each bonus shares were allotted. |
| On 16 July 2020, 1,034 VV shares of £0.00001 each bonus shares were allotted. |
| On 20 July 2020, 1,152 VV shares of £0.00001 each bonus shares were allotted. |
| On 22 July 2020, 1,779 VV shares of £0.00001 each bonus shares were allotted. |