Opex Hosting Ltd - Accounts to registrar (filleted) - small 17.3
Opex Hosting Ltd - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| OPEX HOSTING LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
| OPEX HOSTING LTD (REGISTERED NUMBER: 04391287) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| OPEX HOSTING LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| OPEX HOSTING LTD (REGISTERED NUMBER: 04391287) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 its behalf by: |
| OPEX HOSTING LTD (REGISTERED NUMBER: 04391287) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling (£) which is also the functional currency for the |
| company. |
| The company transitioned from previously extant UK GAAP to FRS 102 as at 1 April 2015. An |
| explanation of how transition to FRS 102 has affected the reported financial position and financial |
| performance is given in note 9. |
| Going concern |
| The accounts are prepared on a going concern basis, the use of the going concern basis of accounting |
| is appropriate because there are no material uncertainties related to events or conditions that may cast |
| significant doubt about the ability of the company to continue as a going concern. |
| Cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company |
| qualifies as a small company. |
| Turnover |
| Turnover comprises the provision of on-demand business applications delivered via the web or |
| telephony network and is stated net of value added tax. Service contracts are invoiced on a monthly |
| basis, licence fees in advance and usage fees in arrears. Turnover is recognised in the period to which |
| it relates, resulting in accrued and deferred income at the balance sheet date. |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost less accumulated depreciation and accumulated |
| impairment losses. |
| At each reporting date, tangible fixed assets are reviewed to determine whether there is any indication |
| that those assets have suffered an impairment loss. If there is an indication of possible impairment, the |
| recoverable amount of any affected asset is estimated and compared with its carrying amount. If the |
| estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable |
| amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the |
| revised estimate of its recoverable amount, but not in excess of the amount that would have been |
| determined had no impairment loss been recognised for the asset in prior years. A reversal of |
| impairment is recognised immediately in profit or loss. |
| Depreciation has been computed to write off the cost of the tangible fixed assets over their useful |
| expected lives using the following rates: |
| Computer hardware 20% straight line |
| Computer software 50% straight line |
| OPEX HOSTING LTD (REGISTERED NUMBER: 04391287) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
| current or past reporting periods using tax rates that have been enacted or substantively enacted by |
| 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 only to the extent that it is probable that they will |
| be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
| Deferred tax is calculated using tax rates 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 |
| Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date |
| of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Cash and cash equivalents |
| 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. |
| Trade and other receivables |
| Trade and other receivables are measured at transaction price less any impairment unless the |
| arrangement constitutes a financing transaction in which case the transaction is measured at the |
| present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
| initially measured at fair value and are subsequently measured at amortised cost using the effective |
| interest method less any impairment. |
| Trade and other payables |
| Trade and other payables are measured at their transaction price unless the arrangement constitutes a |
| financing transaction in which case the transaction is measured at present value of future payments |
| discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
| value net of their transaction costs. They are subsequently measured at amortised cost using the |
| effective interest method. |
| Equity |
| Equity comprises of the following: |
| - "Share capital" represents the nominal value of equity shares. |
| - "Retained earnings" represents retained profits. |
| Judgements and key sources of estimation uncertainty |
| The preparation of financial statements requires management to make judgements, estimates and |
| assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
| sources. The estimates and underlying assumptions are based on historical experience and other |
| factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
| accounting estimates are recognised in the period in which the estimate is revised if the revision |
| affects only that period, or in the period of the revision and future periods if the revision affects both |
| current and future periods. |
| There are no key judgements and sources of estimation uncertainty that have a significant effect on |
| the amounts recognised in the financial statements. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| OPEX HOSTING LTD (REGISTERED NUMBER: 04391287) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | ULTIMATE CONTROLLING PARTY |
| At the balance sheet date the company is controlled by Mr S Thurston, a director of the company, by |
| virtue of his majority shareholding. |
| 7. | FIRST YEAR ADOPTION |
| The company adopted FRS 102 for the year ended 31 March 2017. No financial measurement |
| changes have taken place as a result of the transition and accordingly there are no differences in the |
| equity position of the company as at 1 April 2015 or 31 March 2016 and no changes to the profit and |
| loss determined under the previous GAAP. |