Utelly Limited - Accounts to registrar (filleted) - small 18.2
Utelly Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2021 |
for |
Utelly Limited |
Utelly Limited (Registered number: 08466031) |
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Utelly Limited (Registered number: 08466031) |
Balance Sheet |
31 March 2021 |
2021 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Other reserves |
Retained earnings | ( |
) | (1,501,919 | ) |
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. |
Utelly Limited (Registered number: 08466031) |
Balance Sheet - continued |
31 March 2021 |
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 Board of Directors and authorised for issue on |
Utelly Limited (Registered number: 08466031) |
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
1. | STATUTORY INFORMATION |
Utelly Limited is a |
Registered number: | 08466031 |
Registered office: | Treviot House |
186-192 High Road |
Ilford |
Essex |
IG1 1LR |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
Tangible fixed assets |
Computer equipment | - |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Utelly Limited (Registered number: 08466031) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
2. | ACCOUNTING POLICIES - continued |
Share based payments |
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become |
unconditionally entitled to the awards. The fair value of the awards granted is measured using an option |
valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. |
Share-based payment transactions in which the company receives goods or services by incurring a liability to |
transfer cash or other assets that is based on the price of the company's equity instruments are accounted for as cash-settled share-based payments. The fair value of the amount payable to employees is recognised as an expense, with a corresponding increase in liabilities, over the period in which the employees become |
unconditionally entitled to payment. The liability is remeasured at each balance sheet date and at settlement date. Any changes in the fair value of the liability are recognised as personnel expense in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
Disposals | ( |
) |
At 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
Utelly Limited (Registered number: 08466031) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Utelly Limited (Registered number: 08466031) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
8. | SHARE-BASED PAYMENT TRANSACTIONS |
The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are granted with a fixed exercise price determined at the grant of the option. The options vest over a period of up to 3 years following the date of the grant. The options are exercisable until the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company. The company had the following options granted in the year. |
Share option Type | Date of Grant | Number of Shares | Exercise Price |
Enterprise Management Incentive | 10/12/2015 | 825 | £6.05 |
Enterprise Management Incentive | 22/05/2019 | 2,937 | £10.14 |
Enterprise Management Incentive | 20/07/2019 | 944 | £10.14 |
Name of shares | EMI Scheme |
Brought forward | 4,706 |
Granted in the year | Nil |
Exercised in the year | Nil |
Lapsed in the year | (1,416 | ) |
Carried forward | 3,290 |
Exercisable at the year end | 2,468 |
The fair value of the options granted have been calculated using the Black Scholes model. The total charge for the period was (£1,803). |