Dataonline (UK) Limited Company Accounts

DATAONLINE (UK) LIMITED - Company Information

false false false false false false false false false true false false false false false true false No description of principal activity 2016-01-01 Sage Accounts Production Advanced 2017 Update 1 - FRS 29,973 12,756 xbrli:pure xbrli:shares iso4217:GBP 03461235 2016-01-01 2016-12-31 03461235 2016-12-31 03461235 2015-12-31 03461235 2015-01-01 2015-12-31 03461235 2015-12-31 03461235 core:PlantMachinery 2016-01-01 2016-12-31 03461235 core:FurnitureFittings 2016-01-01 2016-12-31 03461235 bus:RegisteredOffice 2016-01-01 2016-12-31 03461235 bus:LeadAgentIfApplicable 2016-01-01 2016-12-31 03461235 bus:Director1 2016-01-01 2016-12-31 03461235 bus:Director2 2016-01-01 2016-12-31 03461235 bus:Director3 2016-01-01 2016-12-31 03461235 bus:Director4 2016-01-01 2016-12-31 03461235 bus:CompanySecretary1 2016-01-01 2016-12-31 03461235 core:PlantMachinery 2015-12-31 03461235 core:FurnitureFittings 2015-12-31 03461235 core:PlantMachinery 2016-12-31 03461235 core:FurnitureFittings 2016-12-31 03461235 core:WithinOneYear 2016-12-31 03461235 core:WithinOneYear 2015-12-31 03461235 core:RetainedEarningsAccumulatedLosses 2015-01-01 2015-12-31 03461235 core:RetainedEarningsAccumulatedLosses 2015-12-31 03461235 core:RetainedEarningsAccumulatedLosses 2014-12-31 03461235 core:RetainedEarningsAccumulatedLosses 2016-12-31 03461235 core:RetainedEarningsAccumulatedLosses 2015-12-31 03461235 core:ShareCapital 2016-12-31 03461235 core:ShareCapital 2015-12-31 03461235 core:BetweenOneFiveYears 2016-12-31 03461235 core:BetweenOneFiveYears 2015-12-31 03461235 core:FurnitureFittings 2015-12-31 03461235 bus:FRS102 2016-01-01 2016-12-31 03461235 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 03461235 bus:FullAccounts 2016-01-01 2016-12-31 03461235 bus:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 03461235 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 03461235 core:ComputerEquipment 2016-01-01 2016-12-31 03461235 core:ComputerEquipment 2015-12-31 03461235 core:ComputerEquipment 2016-12-31 03461235 core:KeyManagementIndividualGroup1 2016-01-01 2016-12-31 03461235 core:KeyManagementIndividualGroup1 2015-01-01 2015-12-31 03461235 core:KeyManagementIndividualGroup1 2016-12-31 03461235 core:KeyManagementIndividualGroup1 2015-12-31 03461235 core:KeyManagementIndividualGroup2 2016-01-01 2016-12-31 03461235 core:KeyManagementIndividualGroup2 2015-01-01 2015-12-31 03461235 core:KeyManagementIndividualGroup2 2016-12-31 03461235 core:KeyManagementIndividualGroup2 2015-12-31

COMPANY REGISTRATION NUMBER: 03461235

Dataonline (UK) Limited

Unaudited Financial Statements

31 December 2016

A PLUS ACCOUNTANTS LIMITED

Accountants

10 Canberra House

Corbygate Business Park

Corby

Northants

NN17 5JG

Dataonline (UK) Limited

Financial Statements

Year ended 31 December 2016

Contents	Page

Officers and professional advisers	1

Directors' report	2

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of income and retained earnings	4

Statement of financial position	5

Notes to the financial statements	6

Dataonline (UK) Limited

Officers and Professional Advisers

The board of directors	Mr N Bell
	Mr W Kilkerr
	Mr M Adams
	Mr R Barnacle

Registered office	9 Melbourne House
	Corby Gate Business Park
	Corby
	Northamptonshire
	NN17 5JG

Accountants	A PLUS ACCOUNTANTS LIMITED
	Accountants
	10 Canberra House
	Corbygate Business Park
	Corby
	Northants
	NN17 5JG

Bankers	Barclays Bank PLC

Dataonline (UK) Limited

Directors' Report

Year ended 31 December 2016

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2016 .

Directors

The directors who served the company during the year were as follows:

Mr N Bell
Mr W Kilkerr
Mr M Adams
Mr R Barnacle

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 September 2017 and signed on behalf of the board by:

Mr N Bell

Company Secretary

Registered office:

9 Melbourne House

Corby Gate Business Park

Corby

Northamptonshire

NN17 5JG

Dataonline (UK) Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Dataonline (UK) Limited

Year ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dataonline (UK) Limited for the year ended 31 December 2016, which comprise the statement of income and retained earnings, statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Dataonline (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 13 July 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Dataonline (UK) Limited and state those matters that we have agreed to state you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dataonline (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dataonline (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 loss of Dataonline (UK) Limited. You consider that Dataonline (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 Dataonline (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.

A PLUS ACCOUNTANTS LIMITED Accountants

10 Canberra House Corbygate Business Park Corby Northants NN17 5JG

20 September 2017

Dataonline (UK) Limited

Statement of Income and Retained Earnings

Year ended 31 December 2016

	2016	2015
Note	£	£
Turnover	746,143	682,562

Cost of sales	374,989	325,900
	---------	---------
Gross profit	371,154	356,662

Administrative expenses	401,152	340,746
	---------	---------
Operating (loss)/profit	( 29,998)	15,916

Other interest receivable and similar income		30	35
Interest payable and similar expenses		5	–
		---------	---------
(Loss)/profit before taxation	5	( 29,973)	15,951

Tax on (loss)/profit	–	3,195
	--------	--------
(Loss)/profit for the financial year and total comprehensive income	( 29,973)	12,756
	--------	--------

Dividends paid and payable	–	( 26,500)

Retained losses at the start of the year	( 16,410)	( 2,666)
	--------	--------
Retained losses at the end of the year	( 46,383)	( 16,410)
	--------	--------

All the activities of the company are from continuing operations.

Dataonline (UK) Limited

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed assets

Tangible assets	6		1,691	1,953

Current assets

Debtors	7	118,341	139,271
Cash at bank and in hand		13,741	34,550
		---------	---------
		132,082	173,821

Creditors: amounts falling due within one year	8	180,056		192,084
		---------		---------
Net current liabilities			47,974	18,263
			--------	--------
Total assets less current liabilities			( 46,283)	( 16,310)
			--------	--------
Net liabilities			( 46,283)	( 16,310)
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 46,383)	( 16,410)
	--------	--------
Members deficit	( 46,283)	( 16,310)
	--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2016 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 were approved by the board of directors and authorised for issue on 20 September 2017 , and are signed on behalf of the board by:

Mr N Bell
Director

Company registration number: 03461235

Dataonline (UK) Limited

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Melbourne House, Corby Gate Business Park, Corby, Northamptonshire, NN17 5JG.

2. Statement of compliance

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.

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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 13.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	20% reducing balance
FF & Equipment	-	20% reducing balance
Computer Equipment	-	50% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to Nil (2015: Nil).

5. Profit before taxation

(Loss)/profit before taxation is stated after charging:

	2016	2015
	£	£
Depreciation of tangible assets	1,248	1,397
	-------	-------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2016	882	3,120	7,497	11,499
Additions	–	–	986	986
	----	-------	-------	--------
At 31 December 2016	882	3,120	8,483	12,485
	----	-------	-------	--------
Depreciation
At 1 January 2016	882	2,381	6,283	9,546
Charge for the year	–	148	1,100	1,248
	----	-------	-------	--------
At 31 December 2016	882	2,529	7,383	10,794
	----	-------	-------	--------
Carrying amount
At 31 December 2016	–	591	1,100	1,691
	----	-------	-------	--------
At 31 December 2015	–	739	1,214	1,953
	----	-------	-------	--------

7. Debtors

	2016	2015
	£	£
Trade debtors	106,506	128,547
Other debtors	11,835	10,724
	---------	---------
	118,341	139,271
	---------	---------

8. Creditors: amounts falling due within one year

	2016	2015
	£	£
Trade creditors	7,602	13,808
Corporation tax	3,251	3,194
Other creditors	169,203	175,082
	---------	---------
	180,056	192,084
	---------	---------

9. Average number of employees

During the year the average number of employees was 4 (2015: 4).

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2016	2015
	£	£
Not later than 1 year	7,800	7,800
Later than 1 year and not later than 5 years	9,750	17,550
	--------	--------
	17,550	25,350
	--------	--------

11. Directors' advances, credits and guarantees

During the year dividends were issued to W. Kilkerr £0 (2015: £13,250). Dividends were issued to N. Bell £0 (2015: £13,250).

12. Related party transactions and ultimate controlling party

W Kilkerr and N Bell are the company's controlling party by virtue of their shareholdings and position in the office. The company purchased goods from Dataonline LLC, a company in which the directors and shareholders of Dataonline (UK) Limited have an interest, totalling £161,651 (2015: £191,813). The amount owed by Dataonline LLC at the year end was £1,098,316 (2015: £771,646). The company invoiced Dataonline LP, a partnership in which directors and shareholders of Dataonline (UK) Limited have an interest, for consultancy fees of £246,000 (2015: £285,600). The amount owing to Dataonline LP at the year end was £ 739,362 (2015: £ 477,013 ). The company invoiced Dataonline LLC , a company in which directors and shareholders of Dataonline (UK) Limited have an interest, for goods sold of £105,003 (2015: £32,245). The amount owing to Dataonline LLC at the year end was £ 150,933 (2015: £ 121,752 ). The amounts owing to Dataonline LLC and Dataonline LP are interest free and have no set terms of repayment.

13. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.