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SKIRMISH LIMITED - Company Information

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Skirmish Limited

Registered Number:04025018

For the year ended 31 July 2017

England and Wales

Unaudited Financial Statements

For the year ended 31 July 2017

Skirmish Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 July 2017

Skirmish Limited

Statement of Financial Position

Registered Number :

04025018

2016

2017

Notes

Fixed assets

Intangible assets

2,025

2,700

2,025

2,700

Current assets

Trade and other receivables

1,386

10,214

Cash and cash equivalents

18,257

11,600

Trade and other payables: amounts falling due within one

year

(4,365)

(3,045)

7,235

15,212

Net current assets

Total assets less current liabilities

17,237

9,935

17,237

Net assets

9,935

Capital and reserves

Called up share capital

100

Retained earnings

17,137

9,835

17,237

9,935

Shareholders' funds

For the year ended 31 July 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

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 proper 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 Section

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Nicholas Sanders Director

These financial statements were approved and authorised for issue by the Board on 05 March 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 July 2017

Skirmish Limited

Notes to the Financial Statements

Statutory Information

Skirmish Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number

04025018.

Registered address:

Unitc17, Kestrel Business Centre,

Colwick Industrial Estate

Nottingham

NG4 2JR

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Research and development

Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.

Intangible assets

License, patents and trademarks are stated at cost less amortisation. Amortisation of licences is calculated on a straight-line basis over the life of the licence. Amortisation of patents and trademarks is calculated on a straight-line basis over the anticipated useful economic life of the patents or trademarks. The anticipated useful economic life of the patents and trademarks is twenty years.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

20% Straight line

Fixtures and fittings

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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For the year ended 31 July 2017

Skirmish Limited

Notes to the Financial Statements Continued

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and

carried forward at transaction price. Financial assets are derecognised when:

(a) the contractual rights to the cash flows from the asset expire or are settled;

(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or

unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and

carried forward at transaction price.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are recognised initially at transaction value and subsequently measured at their

settlement value with the exception of bank loans which are subsequently measured at amortised cost using the

effective interest rate method.

2. Intangible fixed assets

Other

Intangible

Assets

Cost or valuation

At 01 August 2016

13,500

At 31 July 2017

13,500

Amortisation

At 01 August 2016

10,800

675

Charge for year

At 31 July 2017

11,475

Net book value

At 31 July 2017

2,025

At 31 July 2016

2,700

3. Trade and other receivables

2016

2017

Trade debtors

1,386

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For the year ended 31 July 2017

Skirmish Limited

Notes to the Financial Statements Continued

4. Trade and other payables: amounts falling due within one year

2016

2017

Trade creditors

Taxation and social security

2,170

3,476

Other creditors

845

3,045

4,365

5. Related party transactions

The company is controlled by the directors, with no individual controlling party.

6. Average number of persons employed

The only employees of the company during the year ended 31 July 2016 and the year ended 31 July 2017 were the

four directors.

7. Transition to FRS 102

Is the first year for which the financial statements have been prepared under FRS102. The transition from preparing

the financial statements in accordance with FRSSE (208) to FRS102 (1a) has had no material impact upon either the

financial position or the financial performance as previously reported by the company.

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