Webster Buchanan Research Limited Company Accounts
Webster Buchanan Research Limited Company Accounts
COMPANY REGISTRATION NUMBER:
04287748
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FINANCIAL STATEMENTS |
YEAR ENDED 31 DECEMBER 2016
Contents |
Pages |
Balance sheet
1
Notes to the financial statements
2 to 5
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BALANCE SHEET |
2016 |
2015 |
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Note |
£ |
£ |
Fixed assets
Investments |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
(
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(
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
(
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Net (liabilities)/assets |
(
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Capital and reserves
Called up share capital |
9 |
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Profit and loss account |
(
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Members (deficit)/funds |
(
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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
;
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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 December 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
04287748
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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 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The company and its subsidiary undertakings represent a small group and group accounts are not required.
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 11.
Revenue recognition
Taxation
Foreign currencies
Tangible assets
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:
Office equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2015:
1
).
5.
Tangible assets
Office equipment |
Total |
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£ |
£ |
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Cost |
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At 1 January 2016 and 31 December 2016 |
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Depreciation |
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At 1 January 2016 and 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
– |
– |
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6.
Investments
Shares in group undertakings |
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£ |
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Cost |
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At 1 January 2016 and 31 December 2016 |
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Impairment |
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At 1 January 2016 and 31 December 2016 |
– |
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Carrying amount |
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At 31 December 2016 |
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The company's investments in its subsidiary undertakings represent cost of acquisition of the whole of the ordinary share capital of Webster Buchanan Research Inc, registered in the USA and the whole of the issued ordinary share capital of Webster Buchanan Research Pte, registered in Singapore.
The directors do not consider that any impairment provision is required to reduce the cost of investments to net realisable value.
7.
Debtors
2016 |
2015 |
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£ |
£ |
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Trade debtors |
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Other debtors |
– |
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8.
Creditors:
amounts falling due within one year
2016 |
2015 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Corporation tax |
– |
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Social security and other taxes |
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Director loan accounts |
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9.
Called up share capital
Issued, called up and fully paid
2016 |
2015 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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10.
Related party transactions
11.
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.
12.
Going concern
Certain directors and group companies have confirmed that they will provide adequate working capital to enable the company to continue trading until at least 31 December 2018. Consequently, the accounts have been prepared on a going concern basis.