Outsider Research Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08002613 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

OUTSIDER RESEARCH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Mr N Kenway

SECRETARY:

Kerry Secretarial Services Limited

REGISTERED OFFICE:

c/o Cox Costello

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

REGISTERED NUMBER:

08002613 (England and Wales)

ACCOUNTANTS:

Cox Costello South Limited

Chartered Accountants and Chartered Tax Advisers

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

CURRENT ASSETS

Debtors

4

37,414

10,349

Cash at bank

24,871

36,107

62,285

46,456

CREDITORS

Amounts falling due within one year

5

30,557

21,389

NET CURRENT ASSETS

31,728

25,067

TOTAL ASSETS LESS CURRENT LIABILITIES

31,728

25,067

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

31,718

25,057

SHAREHOLDERS' FUNDS

31,728

25,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 17 November 2017 and were signed by:

Mr N Kenway - Director

1.	STATUTORY INFORMATION

Outsider Research 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 represents net invoiced sales. Turnover is recognised as goods and services are supplied. Turnover

arises solely in th United Kingdom.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of

its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realised the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised costs using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Impairment of financial assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash

generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued

amount where the impairment loss is a revaluation decrease.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the

asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within

one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

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.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

-

10,349

Other debtors

37,414

-

37,414

10,349

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Taxation and social security

15,364

11,252

Other creditors

15,193

10,137

30,557

21,389

6.	RELATED PARTY DISCLOSURES

During the year £34,500 (2016: £30,000) dividends were paid to the director and shareholder.

At the year end the company owed the director £15,193 (2016: £10,137).

7.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102 Section 1A. The last financial

statements under UK GAAP were for the year ended 29 February 2016. The date of transition to FRS 102 was 1

March 2015.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

accounts of Outsider Research Limited for the period ended 29 February 2016 as set out on pages 2 to 6 from the

company's accounting records and from information and explanations you have given us.

As a 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/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Outsider Research Limited, as a body, in accordance with the

terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of

Outsider Research Limited and state those matters that we have agreed to state to the Board of Directors of Outsider

Research Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than Outsider Research Limited and

its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Outsider Research Limited has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and profit of Outsider Research Limited.

You consider that Outsider Research Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Outsider Research 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 accounts.

Cox Costello South Limited

Chartered Accountants and Chartered Tax Advisers

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

17 November 2017