Monsoon Software Consulting (UK) Limited Filleted accounts for Companies House (small and micro)

MONSOON SOFTWARE CONSULTING (UK) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08881139

Monsoon Software Consulting (UK) Limited

Filleted Unaudited Financial Statements

31 December 2017

Monsoon Software Consulting (UK) Limited

Balance Sheet

31 December 2017

	2017		2016
Note	£	£	£

Current assets

Debtors	5	78,609	4,562
Cash at bank and in hand		53,754	–
		---------	-------
		132,363	4,562

Creditors: amounts falling due within one year	6	133,862		35,234
		---------		--------
Net current liabilities			1,499	30,672
			-------	--------
Total assets less current liabilities			( 1,499)	( 30,672)
			-------	--------
Net liabilities			( 1,499)	( 30,672)
			-------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 2,499)	( 31,672)
	-------	--------
Shareholders deficit	( 1,499)	( 30,672)
	-------	--------

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 .

These financial statements were approved by the board of directors and authorised for issue on 10 September 2018 , and are signed on behalf of the board by:

Bharat Sharma	Stephen Kenealy
Director	Director

Company registration number: 08881139

Monsoon Software Consulting (UK) 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 Level 1, Devonshire House, 1 Mayfair Place, Mayfair, London, W1J 8AJ, England.

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 and liabilities and investment properties measured at fair value through profit or loss.

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. There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares .

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 1 (2016: 2 ).

5. Debtors

	2017	2016
	£	£
Trade debtors	77,109	–
Other debtors	1,500	4,562
	--------	-------
	78,609	4,562
	--------	-------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	–	1
Trade creditors	500	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	99,342	26,289
Social security and other taxes	28,395	3,237
Other creditors	5,625	5,707
	---------	--------
	133,862	35,234
	---------	--------

7. Financial instruments at fair value

	2017	2016
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	53,754	–
	--------	----

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	–	1
	----	----

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	Balance outstanding
	£	£	£
Bharat Sharma	–	1,500	1,500
	----	-------	-------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Bharat Sharma	–	–	–
	----	----	----

The loan was on an interest free basis.

9. Controlling party

The company is a wholly owned subsidiary of Monsoon Software Consulting (Ireland) Limited , a company incorporated in the Republic of Ireland.