Antidote Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 04808290

Antidote Limited

Filleted Unaudited Financial Statements

31 December 2017

Antidote Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		45,254	654

Current assets

Debtors	6	258,365	598,260
Cash at bank and in hand		571,791	514,950
		----------	-------------
		830,156	1,113,210

Creditors: amounts falling due within one year	7	( 469,255)		( 799,792)
		----------		-------------
Net current assets			360,901	313,418
			----------	----------
Total assets less current liabilities			406,155	314,072

Provisions

Taxation including deferred tax	( 4,656)	–
	----------	----------
Net assets	( 401,499)	( 314,072)
	----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	401,399	313,972
	----------	----------
Shareholders funds	401,499	314,072
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Antidote Limited

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 18 May 2018 , and are signed on behalf of the board by:

Mr T C Ashton

Director

Company registration number: 04808290

Antidote Limited

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11-12 Charlotte Mews, London, W1T 4EQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Over the life of the lease
Fixtures and fittings	-	25% straight line
Equipment	-	33% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2016: 14 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2017	–	60,111	72,136	132,247
Additions	31,240	17,118	9,260	57,618
Disposals	–	( 60,111)	( 70,069)	( 130,180)
	--------	--------	--------	----------
At 31 December 2017	31,240	17,118	11,327	59,685
	--------	--------	--------	----------
Depreciation
At 1 January 2017	–	59,457	72,136	131,593
Charge for the year	7,051	3,906	2,061	13,018
Disposals	–	( 60,111)	( 70,069)	( 130,180)
	--------	--------	--------	----------
At 31 December 2017	7,051	3,252	4,128	14,431
	--------	--------	--------	----------
Carrying amount
At 31 December 2017	24,189	13,866	7,199	45,254
	--------	--------	--------	----------
At 31 December 2016	–	654	–	654
	--------	--------	--------	----------

6. Debtors

	2017	2016
	£	£
Trade debtors	169,015	380,475
Other debtors	89,350	217,785
	----------	----------
	258,365	598,260
	----------	----------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	76,902	442,231
Corporation tax	21,100	–
Social security and other taxes	132,139	72,505
Other creditors	239,114	285,056
	----------	----------
	469,255	799,792
	----------	----------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T C Ashton	126	1,599	( 1,725)	–
	----	-------	-------	----

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T C Ashton	10,000	8,513	( 18,387)	126
	--------	-------	--------	----