Contents of the Financial Statements

for the Period Ended 31 December 2020

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2020

The directors present their report with the financial statements of the company for the period ended 31 December 2020

Directors

The directors shown below have held office during the whole of the period from
1 January 2020 to 31 December 2020

Xavier Anne Jean-Louis Defourt
Renaud Albert Gaston Dehareng
Francois Paul Pierre Labarre

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 September 2021

And signed on behalf of the board by:
Name: Xavier Anne Jean-Louis Defourt
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2020

	2020	2019
	£	£
Turnover:	14,679,083	15,088,382
Cost of sales:	( 8,622,792 )	( 8,579,713 )
Gross profit(or loss):	6,056,291	6,508,669
Distribution costs:	0	0
Administrative expenses:	( 5,519,150 )	( 5,099,174 )
Other operating income:	0	0
Operating profit(or loss):	537,141	1,409,495
Interest receivable and similar income:	2,505	6,983
Interest payable and similar charges:	( 9,090 )	( 2,852 )
Profit(or loss) before tax:	530,556	1,413,626
Tax:	( 162,878 )	( 247,721 )
Profit(or loss) for the financial year:	367,678	1,165,905

Balance sheet

As at 31 December 2020

	Notes	2020	2019
		£	£
Fixed assets
Tangible assets:	3	2,202,657	452,942
Total fixed assets:		2,202,657	452,942
Current assets
Stocks:	4	37,490	53,877
Debtors:	5	6,600,420	6,638,170
Cash at bank and in hand:		269,802	119,515
Total current assets:		6,907,712	6,811,562
Creditors: amounts falling due within one year:	6	( 6,462,363 )	( 4,968,698 )
Net current assets (liabilities):		445,349	1,842,864
Total assets less current liabilities:		2,648,006	2,295,806
Accruals and deferred income:		( 22,710 )	( 38,188 )
Total net assets (liabilities):		2,625,296	2,257,618
Capital and reserves
Called up share capital:		1	1
Profit and loss account:		2,625,295	2,257,617
Total Shareholders' funds:		2,625,296	2,257,618

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2020

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  The company has suitable financial resources with a net asset position of £2,729,464. Credit risk is spread over numerous customers and the main customer is a public sector body. Order book levels remain constant and cash flow forecasting is undertaken weekly to ensure the business has enough cash resources to sustain it during the next year.Considering the above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual report and financial statements

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost.Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalized.Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, and subject to impairment reviews, on the following bases:The estimated useful lives range as follows:Plant and machinery - 10 yearsComputer equipment - 3-5 yearsLeasehold improvements - 1-5 yearsThe assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

  Valuation information and policy

  At each balance sheet date non-financial assets not carried at fair value are assessed to determine whether there is an indication that the asset (or asset’s cash generating unit) may be impaired. If there is such an indication the recoverable amount of the asset (or asset’s cash generating unit) is compared to the carrying amount of the asset (or asset’s cash generating unit).The recoverable amount of the asset (or asset’s cash generating unit) is the higher of the fair value less costs to sell and value in use. Value in use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the asset’s (or asset’s cash generating unit) continued use. These cash flows are discounted using a pre-tax discount rate that represents the current market risk-free rate and the risks inherent in the asset.If the recoverable amount of the asset (or asset’s cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognized in the profit and loss account, unless the asset has been revalued when the amount is recognized in other comprehensive income to the extent of any previously recognized revaluation. Thereafter any excess is recognized in the profit and loss account.If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset’s cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized in prior periods. A reversal of an impairment loss is recognized in the profit and loss account.

Notes to the Financial Statements

for the Period Ended 31 December 2020

• 2. Employees

  	2020	2019
  Average number of employees during the period	50	34