Counterpart Systems Limited
Counterpart Systems Limited
Registered number: 10518243
Unaudited Financial Statements
For the Period 9 December 2016 to 31 December 2017
Barclay-Stretton Accountants
Members of the Institute of Financial Accountants
Barclay House
35 Borough Road
Burton on Trent
Staffordshire
DE14 2DA
Counterpart Systems Limited
Unaudited Financial Statements
For the Period 9 December 2016 to 31 December 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Counterpart Systems Limited
Balance Sheet
As at
31 December 2017
Balance Sheet
Registered number:
10518243
For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| Period to 31 December 2017 | |||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (19,810) | ||
Page 1
Counterpart Systems Limited
Balance Sheet (continued)
As at
31 December 2017
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Counterpart Systems Limited
Notes to the Financial Statements
For the Period 9 December 2016 to 31 December 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Period to 31 December 2017 | |
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| Office and administration |
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Counterpart Systems Limited
Notes to the Financial Statements (continued)
For the Period 9 December 2016 to 31 December 2017
3.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| Period to 31 December 2017 | |
|---|---|
| £ | |
| Due within one year | |
| Trade debtors |
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| Net wages | 117 |
| Called up share capital not paid |
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| Due after more than one year | |
| Rent deposit |
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Counterpart Systems Limited
Notes to the Financial Statements (continued)
For the Period 9 December 2016 to 31 December 2017
5.
Creditors: Amounts Falling Due Within One Year
| Period to 31 December 2017 | |
|---|---|
| £ | |
| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| Period to 31 December 2017 | |
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| £ | |
| Directors loan account |
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8.
General Information
Counterpart Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10518243 . The registered office is Barclay House, 35 Borough Road, Burton on Trent, Staffordshire, DE14 2DA.
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