| First Edition Translations Ltd |
| Registered number: |
02520431 |
| Balance Sheet |
| as at 30 September 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
4,609 |
|
|
5,911 |
|
| Current assets |
| Debtors |
4 |
|
154,556 |
|
|
136,399 |
| Cash at bank and in hand |
|
|
46,283 |
|
|
100,552 |
|
|
|
200,839 |
|
|
236,951 |
|
| Creditors: amounts falling due within one year |
5 |
|
(129,416) |
|
|
(165,160) |
|
| Net current assets |
|
|
|
71,423 |
|
|
71,791 |
|
| Net assets |
|
|
|
76,032 |
|
|
77,702 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
107 |
|
|
107 |
| Share premium |
|
|
|
12,418 |
|
|
12,418 |
| Profit and loss account |
|
|
|
63,507 |
|
|
65,177 |
|
| Shareholder's funds |
|
|
|
76,032 |
|
|
77,702 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Colin Worboys |
| Director |
| Approved by the board on 5 January 2018 |
|
| First Edition Translations Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services, which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, and equipment |
33% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
7 |
|
8 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Fixtures, fittings, and equipment |
| £ |
|
Cost |
|
At 1 October 2016 |
37,226 |
|
Additions |
2,688 |
|
At 30 September 2017 |
39,914 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2016 |
31,315 |
|
Charge for the year |
3,990 |
|
At 30 September 2017 |
35,305 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
4,609 |
|
At 30 September 2016 |
5,911 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
152,187 |
|
129,177 |
|
Other debtors |
2,369 |
|
7,222 |
|
|
|
|
|
|
154,556 |
|
136,399 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
14,152 |
|
59,108 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
50,080 |
|
81,557 |
|
Taxation and social security costs |
14,552 |
|
11,739 |
|
Other creditors |
50,632 |
|
12,756 |
|
|
|
|
|
|
129,416 |
|
165,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Other financial commitments |
2017 |
|
2016 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
- |
|
22,992 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
During year ended 30 September 2017 there were no transactions with the directors, or any other related party, that were not concluded under normal market conditions, other than interest free loans, repayable on demand, made to and received from the holding company. |
|
|
| 8 |
Controlling party |
|
|
The company is a wholly owned subsidiary of Cintra Language Services Group Ltd, whose company registration number is 3327428. |
|
|
| 9 |
Other information |
|
|
First Edition Translations Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
8 Wellington Mews |
|
Wellington Street |
|
Cambridge |
|
Cambridgeshire |
|
CB1 1HW |
