Simply Analysis Limited Company Accounts

SIMPLY ANALYSIS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 4025901

Simply Analysis Limited

Filleted Unaudited Financial Statements

31 December 2017

Simply Analysis Limited

Financial Statements

Year ended 31 December 2017

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

Simply Analysis Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4	125,000	125,000
Investments	5	111	111
		---------	---------
		125,111	125,111

Current assets

Debtors	6	522,059	497,241
Cash at bank and in hand		103,212	97,671
		---------	---------
		625,271	594,912

Creditors: amounts falling due within one year	7	6,820		7,122
		---------		---------
Net current assets			618,451	587,790
			---------	---------
Total assets less current liabilities			743,562	712,901
			---------	---------

Capital and reserves

Called up share capital	285	285
Revaluation reserve	25,420	25,420
Capital redemption reserve	48	48
Profit and loss account	717,809	687,148
	---------	---------
Shareholders funds	743,562	712,901
	---------	---------

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 income and retained earnings 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 .

Simply Analysis Limited

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 13 September 2018 , and are signed on behalf of the board by:

S Hoey

Director

Company registration number: 4025901

Simply Analysis 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 Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH.

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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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 .

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2017 and 31 December 2017	125,000
	---------
Depreciation
At 1 January 2017 and 31 December 2017	–
	---------
Carrying amount
At 31 December 2017	125,000
	---------
At 31 December 2016	125,000
	---------

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2017 and 31 December 2017	111
	----
Impairment
At 1 January 2017 and 31 December 2017	–
	----

Carrying amount
At 31 December 2017	111
	----
At 31 December 2016	111
	----

6. Debtors

	2017	2016
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	522,059	497,241
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	1,820	2,122
Other creditors	5,000	5,000
	-------	-------
	6,820	7,122
	-------	-------

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
	£	£	£
Dr M Eckersley	( 5,000)	–	( 5,000)
	-------	----	-------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Dr M Eckersley	–	( 5,000)	( 5,000)
	----	-------	-------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2016.

Reconciliation of equity

	1 January 2016			31 December 2016
	As previously stated	Effect of transition	FRS 102 (as restated)	As previously stated	Effect of transition	FRS 102 (as restated)
	£	£	£	£	£	£
Fixed assets	99,691	25,420	125,111	99,691	25,420	125,111
Current assets	529,730	–	529,730	594,912	–	594,912
Creditors: amounts falling due within one year	( 14,111)	–	( 14,111)	( 7,122)	–	( 7,122)
	---------	--------	---------	---------	--------	---------
Net current assets	515,619	–	515,619	587,790	–	587,790
	---------	--------	---------	---------	--------	---------
Total assets less current liabilities	615,310	25,420	640,730	687,481	25,420	712,901

	---------	--------	---------	---------	--------	---------
Net assets	615,310	25,420	640,730	687,481	25,420	712,901
	---------	--------	---------	---------	--------	---------

	---------	--------	---------	---------	--------	---------
Capital and reserves	615,310	25,420	640,730	687,481	25,420	712,901
	---------	--------	---------	---------	--------	---------

In order to comply with the transition to FRS 102, the company has accounted for its investment property at fair value.