ACCOUNTS - Final Accounts

ALPHAMETRICS FINANCIAL SYSTEMS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04683659 2021-01-01 2021-12-31 04683659 2020-01-01 2020-12-31 04683659 2021-12-31 04683659 2020-12-31 04683659 c:Director2 2021-01-01 2021-12-31 04683659 d:OfficeEquipment 2021-01-01 2021-12-31 04683659 d:OfficeEquipment 2021-12-31 04683659 d:OfficeEquipment 2020-12-31 04683659 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 04683659 d:CurrentFinancialInstruments 2021-12-31 04683659 d:CurrentFinancialInstruments 2020-12-31 04683659 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04683659 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 04683659 d:ShareCapital 2021-12-31 04683659 d:ShareCapital 2020-12-31 04683659 d:RetainedEarningsAccumulatedLosses 2021-12-31 04683659 d:RetainedEarningsAccumulatedLosses 2020-12-31 04683659 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 04683659 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 04683659 c:FRS102 2021-01-01 2021-12-31 04683659 c:Audited 2021-01-01 2021-12-31 04683659 c:FullAccounts 2021-01-01 2021-12-31 04683659 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 04683659 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 04683659 2 2021-01-01 2021-12-31 04683659 7 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 04683659

ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

FILLETED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

REGISTERED NUMBER: 04683659

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		566		1,224
			566		1,224
Current assets
Debtors: amounts falling due within one year	5	50,742		15,148
Cash at bank and in hand	6	391,759		507,202
		442,501		522,350
Creditors: amounts falling due within one year	7	(100,232)		(204,307)
Net current assets			342,269		318,043
Total assets less current liabilities			342,835		319,267

Net assets			342,835		319,267

Capital and reserves
Called up share capital	300,000	300,000
Profit and loss account	42,835	19,267
	342,835	319,267

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2022.

P Moran

Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Alphametrics Financial Systems Limited is a company limited by shares and incorporated in England and Wales. The registered office address is at The Archway House Unit 4d, The Lanterns, 16 Melbourne Street, Royston, Hertfordshire, SG8 7BX.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the 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.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.7

Taxation

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

33%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

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ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

∙at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Employees

The average monthly number of employees, including directors, during the year was 6 (2020 - 6).

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ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2021	21,439
	At 31 December 2021	21,439
	Depreciation
	At 1 January 2021	20,216
	Charge for the year on owned assets	657
	At 31 December 2021	20,873
	Net book value
	At 31 December 2021	566
	At 31 December 2020	1,224

Debtors

					2021	2020
					£	£


Trade debtors	22,604	-
Other debtors	2,952	1,203
Prepayments and accrued income	12,808	7,930
Amounts recoverable on long term contracts	12,378	6,015
	50,742	15,148

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	391,758	507,202
	391,758	507,202

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ALPHAMETRICS FINANCIAL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Payments received on account	35,405	138,109
Trade creditors	7,185	-
Other taxation and social security	5,123	8,522
Other creditors	441	-
Accruals and deferred income	52,078	57,676
	100,232	204,307

8.	Financial instruments
		2021	2020
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	391,758	507,202

Financial assets measured at fair value through profit or loss comprise cash held at bank and in hand.

9.	Related party transactions
	Alphametrics Financial Systems Limited has taken advantage of the exemption available under FRS 102 section 33.1 to not disclose related party transactions with the parent company as a result of being wholly owned by the parent company, Alphametrics Co. Limited.

10.	Controlling party

The company is a wholly owned subsidiary of parent company Alphametrics Co. Limited, which is incorporated in Thailand.
Copies of the consolidated financial statements of Alphametrics Co. Limited are available from 109/1 M002, Tambon Mitraphab, Muak Lek, Saraburi, 18180, Thailand. The ultimate controlling party is the shareholders of the parent company.

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 23 September 2022 by Mark Haydon BA CA (Senior statutory auditor) on behalf of Whitings LLP.

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