Oban Multilingual Strategy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04696821 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

OBAN MULTILINGUAL STRATEGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G L Holbrook

G J Holbrook

N R De-Alwis Jaysasinghe

Ms S A Jennings

A D Oakes

J K Walker

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

BUSINESS ADDRESS:

2nd Floor West

Lees House

21-33 Dyke Road

Brighton

East Sussex

BN1 3FE

REGISTERED NUMBER:

04696821 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Tangible assets

4

22,529

7,215

Investments

5

1

1

22,530

7,216

CURRENT ASSETS

Debtors

6

1,435,287

1,349,946

Cash at bank

923,843

608,520

2,359,130

1,958,466

CREDITORS

Amounts falling due within one year

7

(2,029,794

)

(1,593,695

)

NET CURRENT ASSETS

329,336

364,771

TOTAL ASSETS LESS CURRENT LIABILITIES

351,866

371,987

PROVISIONS FOR LIABILITIES

8

(384

)

(1,227

)

NET ASSETS

351,482

370,760

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

4,980

4,980

Retained earnings

346,402

365,680

SHAREHOLDERS' FUNDS

351,482

370,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 26 June 2018 and were signed on its behalf by:

G J Holbrook - Director

1.	STATUTORY INFORMATION

Oban Multilingual Strategy 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and

these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include, but are not

limited to, the useful economic life of tangible fixed assets, the depreciation of these assets and the recoverability

of debtors.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of services is recognised at the point work is delivered to the client.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

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

life.

Furniture, fixtures and equipment

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is

any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable

amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not

possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the

cash-generating unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for

the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2017 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Furniture,

fixtures

and

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 April 2017

-

51,057

51,057

Additions

4,156

20,192

24,348

At 31 March 2018

4,156

71,249

75,405

DEPRECIATION

At 1 April 2017

-

43,842

43,842

Charge for year

577

8,457

9,034

At 31 March 2018

577

52,299

52,876

NET BOOK VALUE

At 31 March 2018

3,579

18,950

22,529

At 31 March 2017

-

7,215

7,215

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

1

NET BOOK VALUE

At 31 March 2018

1

At 31 March 2017

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Oban Multilingual Inc

Registered office: 1470 Walnut Street, Suite 201, Boulder, Colorado 80302

Nature of business: Multilingual marketing

%

Class of shares:

holding

"Common"

100.00

31.12.17

31.12.16

£

£

Aggregate capital and reserves

4,876

6,714

Loss for the year

(1,192

)

(5,711

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,022,082

1,041,044

Other debtors

413,205

308,902

1,435,287

1,349,946

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

149,461

123,009

Taxation and social security

277,384

318,676

Other creditors

1,602,949

1,152,010

2,029,794

1,593,695

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

384

1,227

Deferred

tax

£

Balance at 1 April 2017

1,227

Accelerated capital allowances

(843

)

Balance at 31 March 2018

384

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

5,425

Ordinary A

1p

54

54

2,922

Ordinary B

1p

29

29

1,653

Ordinary C

1p

17

17

100

100

10.	RELATED PARTY DISCLOSURES

11.	SHARE-BASED PAYMENT TRANSACTIONS

The Oban Multilingual Strategy Limited EMI Share Option Plan was introduced on 8 March 2016. Under the

scheme, which provides additional remuneration for 7 employees considered to be key to the operations of the

company, 1,653 share options were granted.

The options are granted with an exercise price of £22.61, and are exercisable if any of the agreed conditions are

met. Employees are not entitled to dividends until the shares are exercised. Vesting of the options is subject to

continued employment within the company.

The total value of the options is £nil. A full fair value valuation using the Black-Scholes pricing method is not

considered justifiable and therefore no adjustment has be made to the financial statements to reflect these share

options.