Mistral Technologies Limited - Period Ending 2017-04-05

Registration number: 03287745

Mistral Technologies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2017

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Mistral Technologies Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Mistral Technologies Limited

Company Information

Directors	Mr R J Wilson Mrs C C Wilson

Company secretary

Mrs C C Wilson

Registered office

The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Accountants

Coates and Partners Limited Chartered Accountants The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Page 1

Mistral Technologies Limited

(Registration number: 03287745)
Balance Sheet as at 5 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	1,961	246
Current assets
Debtors	5	12,045	8,582
Cash at bank and in hand		22,856	40,542
		34,901	49,124
Creditors: Amounts falling due within one year	6	(18,215)	(33,154)
Net current assets		16,686	15,970
Total assets less current liabilities		18,647	16,216
Provisions for liabilities		(392)	-
Net assets		18,255	16,216
Capital and reserves
Allotted, called up and fully paid share capital	8	995	995
Profit and loss account		17,260	15,221
		18,255	16,216
Total equity		18,255	16,216

For the financial year ending 5 April 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Mistral Technologies Limited

(Registration number: 03287745)
Balance Sheet as at 5 April 2017

Approved and authorised by the Board on 20 November 2017 and signed on its behalf by:
 

......................................... Mr R J Wilson Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Mistral Technologies Limited

Notes to the Financial Statements for the Year Ended 5 April 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 03287745.

The address of its registered office is:
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

These financial statements were authorised for issue by the Board on 20 November 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 4

Mistral Technologies Limited

Notes to the Financial Statements for the Year Ended 5 April 2017

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% Straight Line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 5

Mistral Technologies Limited

Notes to the Financial Statements for the Year Ended 5 April 2017

4	Tangible assets

	Plant and machinery  £	Total £
Cost or valuation
At 6 April 2016	2,505	2,505
Additions	2,006	2,006
At 5 April 2017	4,511	4,511
Depreciation
At 6 April 2016	2,259	2,259
Charge for the year	291	291
At 5 April 2017	2,550	2,550
Carrying amount
At 5 April 2017	1,961	1,961
At 5 April 2016	246	246

5

Debtors

	2017 £	2016 £
Prepayments	251	306
Other debtors	11,794	8,276
	12,045	8,582

6

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Loans and borrowings	7	1,665	14,698
Taxation and social security		15,269	15,904
Accruals and deferred income		1,281	1,278
Other creditors		-	1,274
		18,215	33,154

Page 6

Mistral Technologies Limited

Notes to the Financial Statements for the Year Ended 5 April 2017

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Director loans	1,665	14,698

8	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	995	995	995	995

9	Transition to FRS 102

There were no transition adjustments to be made.

Page 7