Activepraise Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02694091 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

ACTIVEPRAISE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I G Middlemiss

A Routledge

G D Moore

S Mason

SECRETARY:

S Mason

REGISTERED OFFICE:

9 The Crossway

Lemington

Newcastle upon Tyne

NE15 7LA

REGISTERED NUMBER:

02694091 (England and Wales)

ACCOUNTANTS:

McCready Page Accountants

511 Durham Road

Low Fell

Gateshead

Tyne and Wear

NE9 5EY

FIXED ASSETS

Intangible assets

4

44,179

48,679

Tangible assets

5

238,201

256,042

282,380

304,721

CURRENT ASSETS

Stocks

166,595

200,050

Debtors

6

127,468

116,216

Cash at bank and in hand

38,459

80,681

332,522

396,947

CREDITORS

Amounts falling due within one year

7

274,573

313,738

NET CURRENT ASSETS

57,949

83,209

TOTAL ASSETS LESS CURRENT LIABILITIES

340,329

387,930

CREDITORS

Amounts falling due after more than one year

8

169,568

186,321

NET ASSETS

170,761

201,609

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

105,000

105,000

Retained earnings

10

65,661

96,509

SHAREHOLDERS' FUNDS

170,761

201,609

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 1 May 2018 and were signed on its behalf by:

I G Middlemiss - Director

1.	STATUTORY INFORMATION

Activepraise 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill is being amortised evenly over its expected useful life.

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.

Tangible fixed assets

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

Freehold property

-

1% on straight line basis

Long leasehold

-

Over period of respective leases

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

Revaluation of freehold property

The freehold property of the business is periodically revalued and the valuation updated accordingly where

considered appropriate by the directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST OR VALUATION

At 1 September 2016

and 31 August 2017

539,300

AMORTISATION

At 1 September 2016

490,621

Charge for year

4,500

At 31 August 2017

495,121

NET BOOK VALUE

At 31 August 2017

44,179

At 31 August 2016

48,679

Cost or valuation at 31 August 2017 is represented by:

Goodwill

£

Valuation in 2001

99,872

Cost

439,428

539,300

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 September 2016

209,031

201,231

410,262

Additions

-

325

325

At 31 August 2017

209,031

201,556

410,587

DEPRECIATION

At 1 September 2016

22,271

131,949

154,220

Charge for year

7,403

10,763

18,166

At 31 August 2017

29,674

142,712

172,386

NET BOOK VALUE

At 31 August 2017

179,357

58,844

238,201

At 31 August 2016

186,760

69,282

256,042

Cost or valuation at 31 August 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2003

69,278

-

69,278

Valuation in 2005

(50,000

)

-

(50,000

)

Valuation in 2008

87,231

-

87,231

Valuation in 2012

23,491

-

23,491

Valuation in 2016

(25,000

)

-

(25,000

)

Cost

104,031

201,556

305,587

209,031

201,556

410,587

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

31/8/17

31/8/16

£

£

Cost

30,000

30,000

Freehold property of the business is periodically revalued.

The property at 9 Tyne View, Newcastle upon Tyne was revalued in July 2016 on an open market basis by

Johnson Tucker, Chartered Surveyors and Property Consultants.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/17

31/8/16

£

£

Trade debtors

54,593

54,047

Other debtors

347

347

VAT

14,541

-

Prepayments and accrued income

57,987

61,822

127,468

116,216

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/17

31/8/16

£

£

Other loans

104,061

105,626

Trade creditors

112,527

138,738

Tax

-

1,677

Social security and other taxes

10,373

11,609

VAT

-

3,283

Other creditors

35

316

Accruals and deferred income

47,577

52,489

274,573

313,738

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/17

31/8/16

£

£

Other loans - 1-2 years

63,452

74,536

Other loans - 2-5 years

106,116

111,785

169,568

186,321

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/17

31/8/16

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 September 2016

96,509

105,000

201,509

Deficit for the year

(30,848

)

(30,848

)

At 31 August 2017

65,661

105,000

170,661

11.	ULTIMATE CONTROLLING PARTY

The controlling party is I G Middlemiss.