Brainware Technologies Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08814825 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

BRAINWARE TECHNOLOGIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

Mr K S Washburn

Mr J P Ryan

Mr J W Freda

Registered office:

24 Holborn Viaduct

London

EC1A 2BN

Registered number:

08814825 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

23 Algitha Road

Skegness

United Kingdom

PE25 2AG

Fixed assets

Tangible assets

4

-

34

Current assets

Debtors

5

10,848

35,422

Cash at bank and in hand

18,543

131,071

29,391

166,493

Creditors

Amounts falling due within one year

6

297,528

275,390

Net current liabilities

(268,137

)

(108,897

)

Total assets less current liabilities

(268,137

)

(108,863

)

Capital and reserves

Called up share capital

7

10

10

Retained earnings

8

(268,147

)

(108,873

)

Shareholders' funds

(268,137

)

(108,863

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 3 August 2018 and were signed on its behalf by:

Mr K S Washburn - Director

Mr J P Ryan - Director

1.	Statutory information

Brainware Technologies 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.

Since the year end the Company has been acquired by Flexera Ltd. At the year end the Company had net current

liabilities of £268,137. (2016 £108,897). Flexera is aware of this and willing to support the Company as a going concern.

Turnover

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

added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position 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.

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.

Going concern

Brainware Holiding Ag confirms that the company is a going concern and will meet all commitments as they fall due for a

period of not less than twelve months from the signing of the financial statements.

3.	Employees and directors

The average number of employees during the year was 3 (2016 - 3 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 January 2017

and 31 December 2017

1,668

Depreciation

At 1 January 2017

1,634

Charge for year

34

At 31 December 2017

1,668

Net book value

At 31 December 2017

-

At 31 December 2016

34

5.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

10,848

13,248

Other debtors

-

22,174

10,848

35,422

6.

Creditors: amounts falling due within one year

2017

2016

£

£

Trade creditors

2,447

8,276

Amounts owed to group undertakings

291,200

264,865

Taxation and social security

3,881

2,249

297,528

275,390

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

10

Ordinary

£1

10

10

8.

Reserves

Retained

earnings

£

At 1 January 2017

(108,873

)

Deficit for the year

(159,274

)

At 31 December 2017

(268,147

)

9.	Related party disclosures

Spider Lifecycle Managementsysteme GMbH

Part of Group

During the year transactions were made between the companies at arms length. At the year end the company owed

£519. (2016 £7,886).

OEM Brainware Limited

Part of Group

During the year transactions were made between the companies at arms length. At the year end the company owed

£290,681. (2016 £256,979).

Mrs G Johnson

Wife of Mr B Johnson (Director)

During the year Mrs G Johnson was paid £16,000 for consultancy work carried out on behalf of the Company.

10.	Ultimate controlling party

The controlling party is Brainware Holding Ag.