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 2020

for

HUMAN FACTORS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

C L Atkinson

A P C Atkinson

C N Atkinson

REGISTERED OFFICE:

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

REGISTERED NUMBER:

01735439 (England and Wales)

ACCOUNTANTS:

Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

FIXED ASSETS

Intangible assets

5

286,317

161,736

Tangible assets

6

-

-

286,317

161,736

CURRENT ASSETS

Debtors

7

94,986

252,150

Cash at bank

32,195

10,132

127,181

262,282

CREDITORS

Amounts falling due within one year

8

219,416

245,378

NET CURRENT (LIABILITIES)/ASSETS

(92,235

)

16,904

TOTAL ASSETS LESS CURRENT LIABILITIES

194,082

178,640

CREDITORS

Amounts falling due after more than one year

9

96,046

128,066

NET ASSETS

98,036

50,574

CAPITAL AND RESERVES

Called up share capital

10

320,002

320,002

Retained earnings

(221,966

)

(269,428

)

SHAREHOLDERS' FUNDS

98,036

50,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 and authorised for issue on 29 April 2021 and were signed on its behalf by:

A P C Atkinson - Director

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.

Going concern

The emergence and spread of COVID-19 in 2020 and the associated social distancing measures and imposed travel restrictions have significantly impacted businesses globally. Whilst COVID-19 has impacted the company, given the current uncertainties that exist regarding the duration and extent of the pandemic, at this stage it is not possible to reliably forecast the extent of this impact. In response to the pandemic and uncertainty, the directors have taken measures in order to safeguard cashflow, customers and supply chain that they believe should enable them to continue in operational existence. Therefore, it is the director's opinion that the going concern basis of preparation continues to be appropriate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2019

163,536

Additions

125,181

At 31 July 2020

288,717

AMORTISATION

At 1 August 2019

1,800

Charge for year

600

At 31 July 2020

2,400

NET BOOK VALUE

At 31 July 2020

286,317

At 31 July 2019

161,736

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2019

and 31 July 2020

258,240

DEPRECIATION

At 1 August 2019

and 31 July 2020

258,240

NET BOOK VALUE

At 31 July 2020

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade debtors

36,598

135,754

Other debtors

58,388

116,396

94,986

252,150

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans and overdrafts

-

14,262

Trade creditors

36,457

83,068

Taxation and social security

30,606

12,506

Other creditors

152,353

135,542

219,416

245,378

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans

50,000

-

Other creditors

46,046

128,066

96,046

128,066

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.20

31.7.19

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

300,000

320,002

320,002

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 2020 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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 ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Human Factors (UK) Limited 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.

Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

29 April 2021