Numbertelling Ltd - Period Ending 2017-07-31

Registration number: SC509826

Numbertelling Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Sense Accounting & Bookkeeping Limited
Chartered Accountants
56 Marchmont Road
Edinburgh
EH9 1HS

Numbertelling Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Numbertelling Ltd

Company Information

Directors

Mr Pawel Piotr Jancz Ms Rebecca Jane Kaye

Registered office

Argyle House Codebase 3 Lady Lawson Street Edinburgh EH3 9DR

Accountants

Sense Accounting & Bookkeeping Limited Chartered Accountants 56 Marchmont Road Edinburgh EH9 1HS

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Numbertelling Ltd

(Registration number: SC509826)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	4,139	772
Current assets
Debtors	5	13,721	1,302
Cash at bank and in hand		35,187	-
		48,908	1,302
Creditors: Amounts falling due within one year	6	(44,734)	(8,479)
Net current assets/(liabilities)		4,174	(7,177)
Net assets/(liabilities)		8,313	(6,405)
Capital and reserves
Called up share capital		1	1
Profit and loss account		8,312	(6,406)
Total equity		8,313	(6,405)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 April 2018 and signed on its behalf by:
 

.........................................

Mr Pawel Piotr Jancz

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

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Numbertelling Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyle House
Codebase
3 Lady Lawson Street
Edinburgh
EH3 9DR
United Kingdom

These financial statements were authorised for issue by the Board on 30 April 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The company has elected to adopt FRS 102, Section 1A with the effective date of transition being 1 July 2015.

Information on the impact of the first-time adoption of FRS 102 is given in note 7.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Turnover for the sale of services is recognised when the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will be received by the company and the stage of completion at the balance sheet date can be measured reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

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Numbertelling Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is charged to the profit and loss account at the following rates over the estimated useful lives of each part of an item of tangible fixed assets. Leased assets are depreciated over the shorter of the lease term and their useful lives.

Asset class	Depreciation method and rate
Office equipment	20% straight line
Computer equipment	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company’s cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

Trade debtors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors.

Trade creditors

Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

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Numbertelling Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

4	Tangible assets

	Furniture, fittings and equipment  £
Cost or valuation
At 1 August 2016	965
Additions	3,837
At 31 July 2017	4,802
Depreciation
At 1 August 2016	193
Charge for the year	470
At 31 July 2017	663
Carrying amount
At 31 July 2017	4,139
At 31 July 2016	772

5

Debtors

	2017 £	2016 £
Trade debtors	8,970	-
Other debtors	4,751	1,302
	13,721	1,302

6

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Taxation and social security		8,718	-
Other creditors		36,016	8,479
		44,734	8,479

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Numbertelling Ltd

Notes to the Financial Statements for the Year Ended 31 July 2017

7	Transition to FRS 102

This is the first financial year that the company has presented its financial statements in accordance with FRS 102 ‘The Financial Reporting Framework applicable in the UK and Republic of Ireland’ (“FRS 102”). For financial years up to and including the year ending 31 July 2016, the company prepared its financial statements in accordance with previously extant UK GAAP.

The date of transition to FRS 102 is therefore 1 July 2015. In carrying out the transition to FRS 102, the company has not applied any of the optional exemptions permitted by Section 35 Transition to this FRS.

There have been no changes to accounting policies or accounting treatments required to be made upon transition to FRS 102. Accordingly, the company’s opening equity position as at the 1 July 2015 and its financial position and performance for the year ended 31 July 2016 are unchanged from that previously presented under previously extant UK GAAP.

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