Ancoris Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04830784 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Ancoris Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D W J McLeman

Mrs A McLeman

SECRETARY:

Mr D W J McLeman

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

04830784 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

3

175,668

9,343

Tangible assets

4

139,193

36,147

314,861

45,490

CURRENT ASSETS

Debtors

5

1,310,809

997,484

Cash at bank

1,892,535

1,283,157

3,203,344

2,280,641

CREDITORS

Amounts falling due within one year

6

(3,047,892

)

(2,019,994

)

NET CURRENT ASSETS

155,452

260,647

TOTAL ASSETS LESS CURRENT LIABILITIES

470,313

306,137

PROVISIONS FOR LIABILITIES

(550

)

-

DEFERRED INCOME

(385,688

)

(301,259

)

NET ASSETS

84,075

4,878

CAPITAL AND RESERVES

Called up share capital

117

117

Share premium

95,474

95,474

Retained earnings

(11,516

)

(90,713

)

SHAREHOLDERS' FUNDS

84,075

4,878

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 11 January 2018 and were signed on its behalf by:

Mr D W J McLeman - Director

1.	STATUTORY INFORMATION

Ancoris Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company

has sufficient finance available to it to meet its obligations as they fall due for the foreseeable

future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make

judgements, estimates and assumptions about the carrying amount of assets and liabilities that are

not readily apparent from other sources. The estimates and associated 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 an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised where the

revision affects only that period, or in the period of the revision and future periods where the

revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future that have

a material effect of the reported position shown in the accounts.

Changes in accounting policies

These accounts reflect the first year that the company has adopted FRS 102. The prior year financial

statements were restated for adoption of FRS 102 in the current year. There were no material

adjustments arising.

Turnover

Turnover from resale of third party products, software and subscriptions is recognised on supply.

Turnover from Ancoris services including support, consulting and software application services is

recognised over the term of the contract. All amounts are exclusive of Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012 and 2013,

is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value, with changes

recognised in profit and loss.

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.

Research and development

Expenditure on software development directly associated with on-going revenue streams is

capitalised and amortised over 3 years. Other research and development is expensed in the year in

which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. 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.

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.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 August 2016

35,245

-

35,245

Additions

-

244,184

244,184

At 31 July 2017

35,245

244,184

279,429

AMORTISATION

At 1 August 2016

25,902

-

25,902

Charge for year

7,049

70,810

77,859

At 31 July 2017

32,951

70,810

103,761

NET BOOK VALUE

At 31 July 2017

2,294

173,374

175,668

At 31 July 2016

9,343

-

9,343

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

170,815

Additions

131,991

At 31 July 2017

302,806

DEPRECIATION

At 1 August 2016

134,668

Charge for year

28,945

At 31 July 2017

163,613

NET BOOK VALUE

At 31 July 2017

139,193

At 31 July 2016

36,147

5.

DEBTORS

31.7.17

31.7.16

£

£

Amounts falling due within one year:

Trade debtors

1,066,687

810,261

Other debtors

178,122

101,723

1,244,809

911,984

Amounts falling due after more than one year:

Other debtors

66,000

85,500

Aggregate amounts

1,310,809

997,484

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

919,822

774,002

Taxation and social security

377,486

271,493

Other creditors

1,750,584

974,499

3,047,892

2,019,994

Deferred Income

385,688

301,259

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.17

31.7.16

£

£

Within one year

66,224

26,992

Between one and five years

164,693

-

230,917

26,992

8.	RELATED PARTY DISCLOSURES

Appogee HR Limited

A company in which Mr D W J McLeman is a shareholder.

Within the year the company provided services totalling £54,647 (2016: £66,010) to Appogee HR

Limited.

Within the year the company purchased services totalling £9,904 (2016: £33,978) from Appogee HR

Limited.

As at the year-end, Appogee HR Limited owed Ancoris Limited a total of £98,411 (2016: £65,713).

9.	ULTIMATE CONTROLLING PARTY