Brainware Technologies Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08814825 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

BRAINWARE TECHNOLOGIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr B A Johnson

Mr R Schallberger

Registered office:

24 Holborn Viaduct

London

EC1A 2BN

Registered number:

08814825 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

23 Algitha Road

Skegness

Lincolnshire

PE25 2AG

Fixed assets

Tangible assets

4

34

588

Current assets

Debtors

5

35,422

21,083

Cash at bank and in hand

131,071

11,630

166,493

32,713

Creditors

Amounts falling due within one year

6

275,390

109,692

Net current liabilities

(108,897

)

(76,979

)

Total assets less current liabilities

(108,863

)

(76,391

)

Capital and reserves

Called up share capital

7

10

10

Retained earnings

8

(108,873

)

(76,401

)

Shareholders' funds

(108,863

)

(76,391

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 September 2017 and were signed on its behalf by:

Mr B A Johnson - Director

1.	Statutory information

Brainware Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

Brainware Holiding Ag confirms that the company is a going concern and will meet all commitments as they fall due for a

period of not less than twelve months from the signing of the financial statements.

3.	Employees and directors

The average number of employees during the year was 3 .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 January 2016

and 31 December 2016

1,668

Depreciation

At 1 January 2016

1,080

Charge for year

554

At 31 December 2016

1,634

Net book value

At 31 December 2016

34

At 31 December 2015

588

5.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

13,248

20,222

Other debtors

22,174

861

35,422

21,083

6.

Creditors: amounts falling due within one year

2016

2015

£

£

Trade creditors

8,276

-

Amounts owed to group undertakings

264,865

109,109

Taxation and social security

2,249

-

Other creditors

-

583

275,390

109,692

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

10

Ordinary

£

10

10

8.

Reserves

Retained

earnings

£

At 1 January 2016

(76,401

)

Deficit for the year

(32,472

)

At 31 December 2016

(108,873

)

9.	Related party disclosures

Spider Lifecycle Managementsysteme GMbH

Part of Group

During the year the company made sales amounting to £2,233 to Spider lifecycle Managementsysteme GMbH, purchases

from the company were £1,721. At the year end the company owed £7,886. (2015- £7,721).

OEM Brainware Limited

Part of Group

During the year transactions were made between the companies at arms length. At the year end the company owed

£256,979. (2015 £104,058).

10.	Ultimate controlling party

The controlling party is Brainware Holding Ag.

11.	First year adoption

The company has adopted FRS 102 for the first time in the year ended 31 December 2016.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholders funds

- comparative year profit or loss