BetterPoints Limited - Accounts to registrar (filleted) - small 17.3
BetterPoints Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| FOR |
| BETTERPOINTS LIMITED |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BETTERPOINTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Courtyard |
| Shoreham Road |
| Upper Beeding |
| Steyning |
| West Sussex |
| BN44 3TN |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| ABRIDGED BALANCE SHEET |
| 31ST DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| 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. |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| ABRIDGED BALANCE SHEET - continued |
| 31ST DECEMBER 2017 |
| 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 |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| BetterPoints Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared on the going concern basis on the assumption that the company continues to receive the support |
| of its directors and related parties. The directors are of the opinion that this support will continue for the foreseeable future. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where |
| turnover is recognised when the company obtains the right to consideration. |
| Grants are recognised in the profit and loss account in the same period as the expenditure to which the grant relates is |
| incurred. |
| Intangible fixed assets |
| Amortisation is provided at 10% straight line in order to write off the asset over its estimated useful life. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. At the balance sheet date contributions outstanding were £398 |
| (2016: £Nil). |
| Unlisted fixed asset investments |
| Fixed asset investments are shown at cost less any permanent diminution at the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st January 2017 |
| Additions |
| At 31st December 2017 |
| AMORTISATION |
| At 1st January 2017 |
| Amortisation for year |
| At 31st December 2017 |
| NET BOOK VALUE |
| At 31st December 2017 |
| At 31st December 2016 |
| Development costs attributed to the BetterPoints software system have been capitalised on the company's balance sheet. |
| The platform, consisting of apps, portals and programmes are live and generating contracted revenues. |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st January 2017 |
| Additions |
| At 31st December 2017 |
| DEPRECIATION |
| At 1st January 2017 |
| Charge for year |
| At 31st December 2017 |
| NET BOOK VALUE |
| At 31st December 2017 |
| At 31st December 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1st January 2017 |
| and 31st December 2017 | 404,996 |
| NET BOOK VALUE |
| At 31st December 2017 | 404,996 |
| At 31st December 2016 | 404,996 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loan is secured by fixed and floating charges over various assets and personal guarantees from the directors. |
| BETTERPOINTS LIMITED (REGISTERED NUMBER: 07356214) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 8. | RELATED PARTY DISCLOSURES |
| At 1 January 2017 the Magee Family Trust was owed £800,000. At the balance sheet date the same loan balance was |
| outstanding. |
| At 1 January 2017 and at the balance sheet date £25,000 was due to the Magee Charitable Trust. |
| At 1 January 2017 £442,260 was owed to S Magee. Further loans were made during the year and at the balance sheet date |
| £530,260 was owed. |
| During the year C Gipple, a close family member of the director, made a loan to the company of £158,685, which remained |
| outstanding as at the balance sheet date. |
| All of those loans are interest free with no fixed repayment date. |