Mosaic Online Systems Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05248631 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2017

for

MOSAIC ONLINE SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Fleming-Smith

M Arnold

Mrs K Fleming-Smith

SECRETARY:

N Fleming-Smith

REGISTERED OFFICE:

A1 Yeoman Gate

Yeoman Way

Worthing

West Sussex

BN13 3QZ

REGISTERED NUMBER:

05248631 (England and Wales)

ACCOUNTANTS:

MastersFuller

Chartered Certified Accountants

38 Salisbury Road

Worthing

West Sussex

BN11 1RD

FIXED ASSETS

Tangible assets

4

1,095,130

1,116,303

CURRENT ASSETS

Debtors

5

1,070,956

1,057,674

Cash at bank

1,490,031

1,242,255

2,560,987

2,299,929

CREDITORS

Amounts falling due within one year

6

383,807

350,617

NET CURRENT ASSETS

2,177,180

1,949,312

TOTAL ASSETS LESS CURRENT LIABILITIES

3,272,310

3,065,615

PROVISIONS FOR LIABILITIES

73,002

87,199

NET ASSETS

3,199,308

2,978,416

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

3,199,108

2,978,216

SHAREHOLDERS' FUNDS

3,199,308

2,978,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 20th December 2017 and were signed on its behalf by:

N Fleming-Smith - Director

1.	STATUTORY INFORMATION

Mosaic Online Systems Ltd 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.

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 of goods and services, excluding value added tax.

Tangible fixed assets

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

life.

Freehold land - nil

Freehold buildings - over 50 years

Improvements to property - over 50 years

Short leasehold - over the term of the lease

Office equipment- 25% on cost

Computer equipment - 25% on cost

The division between freehold land and buildings is based on the opinion of the directors.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2016 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

property

leasehold

property

£

£

£

COST

At 1st April 2016

501,209

750

5,269

At 31st March 2017

501,209

750

5,269

DEPRECIATION

At 1st April 2016

11,694

749

157

Charge for year

7,017

-

105

Eliminated on disposal

-

-

-

At 31st March 2017

18,711

749

262

NET BOOK VALUE

At 31st March 2017

482,498

1

5,007

At 31st March 2016

489,515

1

5,112

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1st April 2016

140,082

1,044,438

1,691,748

Additions

2,026

308,161

310,187

Disposals

-

(343,124

)

(343,124

)

At 31st March 2017

142,108

1,009,475

1,658,811

DEPRECIATION

At 1st April 2016

99,772

463,073

575,445

Charge for year

15,593

294,750

317,465

Eliminated on disposal

-

(329,229

)

(329,229

)

At 31st March 2017

115,365

428,594

563,681

NET BOOK VALUE

At 31st March 2017

26,743

580,881

1,095,130

At 31st March 2016

40,310

581,365

1,116,303

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,039,698

924,097

Other debtors

31,258

133,577

1,070,956

1,057,674

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

51,323

39,436

Taxation and social security

302,724

287,419

Other creditors

29,760

23,762

383,807

350,617

7.	OTHER FINANCIAL COMMITMENTS

The company had financial commitments not included in the financial statements which amount to £10,500

(2016 £10,500).