ACCOUNTS - Final Accounts

N T A MONITOR LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 truetrueNo description of principal activityfalse2017-01-01 03297071 2017-01-01 2017-12-31 03297071 2016-01-01 2016-12-31 03297071 2017-12-31 03297071 2016-12-31 03297071 c:Director1 2017-01-01 2017-12-31 03297071 d:Buildings 2017-01-01 2017-12-31 03297071 d:Buildings 2017-12-31 03297071 d:Buildings 2016-12-31 03297071 d:Buildings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03297071 d:FurnitureFittings 2017-01-01 2017-12-31 03297071 d:FurnitureFittings 2017-12-31 03297071 d:FurnitureFittings 2016-12-31 03297071 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03297071 d:OfficeEquipment 2017-01-01 2017-12-31 03297071 d:OfficeEquipment 2017-12-31 03297071 d:OfficeEquipment 2016-12-31 03297071 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03297071 d:ComputerEquipment 2017-01-01 2017-12-31 03297071 d:ComputerEquipment 2017-12-31 03297071 d:ComputerEquipment 2016-12-31 03297071 d:ComputerEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03297071 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03297071 d:CurrentFinancialInstruments 2017-12-31 03297071 d:CurrentFinancialInstruments 2016-12-31 03297071 d:Non-currentFinancialInstruments 2017-12-31 03297071 d:Non-currentFinancialInstruments 2016-12-31 03297071 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 03297071 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 03297071 d:ShareCapital 2017-12-31 03297071 d:ShareCapital 2016-12-31 03297071 d:RetainedEarningsAccumulatedLosses 2017-12-31 03297071 d:RetainedEarningsAccumulatedLosses 2016-12-31 03297071 c:OrdinaryShareClass1 2017-01-01 2017-12-31 03297071 c:OrdinaryShareClass1 2017-12-31 03297071 c:FRS102 2017-01-01 2017-12-31 03297071 c:Audited 2017-01-01 2017-12-31 03297071 c:FullAccounts 2017-01-01 2017-12-31 03297071 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 03297071 d:Subsidiary1 2017-01-01 2017-12-31 03297071 d:Subsidiary1 1 2017-01-01 2017-12-31 03297071 d:Subsidiary2 2017-01-01 2017-12-31 03297071 d:Subsidiary2 1 2017-01-01 2017-12-31 03297071 d:Subsidiary3 2017-01-01 2017-12-31 03297071 d:Subsidiary3 1 2017-01-01 2017-12-31 03297071 c:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03297071

N T A Monitor Limited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2017

NTA Monitor Limited

Registered number: 03297071

Balance sheet

As at 31 December 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		264,600		274,794
Investments	5		17,084		17,084
			281,684		291,878
Current assets
Debtors	6	646,532		534,543
Cash at bank and in hand		1,577,511		866,973
		2,224,043		1,401,516
Creditors: amounts falling due within one year	7	(446,801)		(386,572)
Net current assets			1,777,242		1,014,944
Total assets less current liabilities			2,058,926		1,306,822

Net assets			2,058,926		1,306,822

Capital and reserves
Called up share capital	8	3,360	3,360
Profit and loss account		2,055,566	1,303,462
		2,058,926	1,306,822

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2018.

R S Hills

Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

1.	General information

N T A Monitor Limited is a private company limited by shares and is incorporated in England with the registered number 03297071. The address of the registered office is 13 - 15 Railway Street, Chatham, Kent ME4 4HU.
The principal activity of the company is the provision of information security services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is generally recognised when the product or service is provided. If the services are provided evenly during the contract term but billings are irregular, revenue is recognised on a straight-line basis over the contract term that the service is being provided.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	over 50 years
Fixtures & fittings	-	15% straight line
Office equipment	-	25% straight line
Computer equipment	-	33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

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NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

2.Accounting policies (continued)

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of income and retained earnings within 'other operating income'.

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NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

2.Accounting policies (continued)

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.10

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2015 to continue to be charged over the period to the first market rent review rather than the term of the lease.

2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.12

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

2.13

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 30 (2016 - 29).

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NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

4.	Tangible fixed assets

	Freehold property	Computer equipment	Fixtures & fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2017	280,897	52,892	36,992	26,021	396,802
Additions	-	5,229	1,522	-	6,751
At 31 December 2017	280,897	58,121	38,514	26,021	403,553
Depreciation
At 1 January 2017	21,372	48,084	29,582	22,970	122,008
Charge for the year on owned assets	8,117	4,317	3,361	1,150	16,945
At 31 December 2017	29,489	52,401	32,943	24,120	138,953
Net book value
At 31 December 2017	251,408	5,720	5,571	1,901	264,600
At 31 December 2016	259,525	4,808	7,410	3,051	274,794

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2017	17,084
	At 31 December 2017	17,084

	Net book value
	At 31 December 2017	17,084
	At 31 December 2016	17,084

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NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

5.Fixed asset investments (continued)

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Country of incorporation	Class of shares	Holding	Principal activity

NTA Monitor (M) Sdn Bhd	Malaysia	Ordinary	100%	Internet security
NTA Academy Limited	England and Wales	Ordinary	100%	Training
NTA Holding Limited	England and Wales	Ordinary	100%	Dormant

The aggregate of the share capital and reserves as at 31 December 2017 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

NTA Monitor (M) Sdn Bhd	20,084	40,066
NTA Academy Limited	99,383	5,106
NTA Holding Limited	2	-
	119,469	45,172

Debtors

					2017	2016
					£	£



Trade debtors	407,150	236,388
Amounts owed by group undertakings	218,228	282,145
Other debtors	1,420	5,835
Prepayments and accrued income	19,734	10,175
	646,532	534,543

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NTA Monitor Limited

Notes to the financial statements

For the Year Ended 31 December 2017

7.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	56,378	39,357
Corporation tax	99,071	121,277
Other taxation and social security	193,541	135,728
Other creditors	11,672	1,553
Accruals and deferred income	86,139	88,657
	446,801	386,572

8.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

3,360 Ordinary shares of £1 each	3,360	3,360

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £20,481 (2016 - £6,919). Contributions totalling £1,858 (2016 - £1,551) were payable to the fund at the balance sheet date.

10.	Related party transactions
	During the year the company paid director's remuneration totalling £77,310 (2016: £80,750). During the year the company paid dividends to the directors, who are also shareholders in the company, as follows: R S Hills received dividends totalling £NIL (2016: £70,582).

11.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2017 was unqualified.

The audit report was signed on 3 May 2018 by Rodney Sutton BA ACA FCCA CA(SA) (Senior statutory auditor) on behalf of Kreston Reeves LLP.

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