Sudscape Technologies Limited 30/06/2020 iXBRL

Sudscape Technologies Limited 30/06/2020 iXBRL

SUDSCAPE TECHNOLOGIES LIMITED - Company Information

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0 30/06/2020 2020-06-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-07-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 08658551 2019-07-01 2020-06-30 08658551 2020-06-30 08658551 2019-06-30 08658551 2018-07-01 2019-06-30 08658551 2019-06-30 08658551 core:IntangibleAssetsOtherThanGoodwill 2019-07-01 2020-06-30 08658551 bus:Director1 2019-07-01 2020-06-30 08658551 core:IntangibleAssetsOtherThanGoodwill 2019-06-30 08658551 core:IntangibleAssetsOtherThanGoodwill 2020-06-30 08658551 core:WithinOneYear 2020-06-30 08658551 core:WithinOneYear 2019-06-30 08658551 core:ShareCapital 2020-06-30 08658551 core:ShareCapital 2019-06-30 08658551 core:RetainedEarningsAccumulatedLosses 2020-06-30 08658551 core:RetainedEarningsAccumulatedLosses 2019-06-30 08658551 core:IntangibleAssetsOtherThanGoodwill 2019-06-30 08658551 bus:SmallEntities 2019-07-01 2020-06-30 08658551 bus:AuditExempt-NoAccountantsReport 2019-07-01 2020-06-30 08658551 bus:FullAccounts 2019-07-01 2020-06-30 08658551 bus:SmallCompaniesRegimeForAccounts 2019-07-01 2020-06-30 08658551 bus:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30
Company registration number: 08658551
Sudscape Technologies Limited
Unaudited filleted financial statements
30 June 2020
Sudscape Technologies Limited
Contents
Statement of financial position
Notes to the financial statements
Sudscape Technologies Limited
Statement of financial position
30 June 2020
2020 2019
Note £ £ £ £
Fixed assets
Intangible assets 5 - ( 2,342)
_______ _______
- ( 2,342)
Current assets
Debtors 6 - 1,034
Cash at bank and in hand 371 134
_______ _______
371 1,168
Creditors: amounts falling due
within one year 7 ( 5,788) ( 6,318)
_______ _______
Net current liabilities ( 5,417) ( 5,150)
_______ _______
Total assets less current liabilities ( 5,417) ( 7,492)
_______ _______
Net liabilities ( 5,417) ( 7,492)
_______ _______
Capital and reserves
Called up share capital 300 300
Profit and loss account ( 5,717) ( 7,792)
_______ _______
Shareholders deficit ( 5,417) ( 7,492)
_______ _______
For the year ending 30 June 2020 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 June 2021 , and are signed on behalf of the board by:
Mr Wayne Langford
Director
Company registration number: 08658551
Sudscape Technologies Limited
Notes to the financial statements
Year ended 30 June 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Penthouse, 200 Islington Wharf, 153 Great Ancoats Street, Manchester, M4 6DT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the reporting date the liabilities of the company exceeded its assets by £5,417. The accounts have been prepared on a going concern basis on the assumption that the support of the company by its directors and creditors will continue for the foreseeable future.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 July 2019 and 30 June 2020 22,222 22,222
_______ _______
Amortisation
At 1 July 2019 24,564 24,564
Charge for the year ( 2,342) ( 2,342)
_______ _______
At 30 June 2020 22,222 22,222
_______ _______
Carrying amount
At 30 June 2020 - -
_______ _______
At 30 June 2019 ( 2,342) ( 2,342)
_______ _______
6. Debtors
2020 2019
£ £
Other debtors - 1,034
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Other creditors 5,788 6,318
_______ _______