ACCOUNTS - Final Accounts preparation

ALEXANDER BEARD GLOBAL SERVICES LIMITED - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseActivities auxiliary to financial intermediation not elsewhere classifiedfalse2017-01-01Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 04873038 2017-01-01 2017-12-31 04873038 2016-01-01 2016-12-31 04873038 2017-12-31 04873038 2016-12-31 04873038 2016-01-01 04873038 c:Director1 2017-01-01 2017-12-31 04873038 d:FurnitureFittings 2017-01-01 2017-12-31 04873038 d:FurnitureFittings 2017-12-31 04873038 d:FurnitureFittings 2016-12-31 04873038 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04873038 d:OfficeEquipment 2017-01-01 2017-12-31 04873038 d:OfficeEquipment 2017-12-31 04873038 d:OfficeEquipment 2016-12-31 04873038 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04873038 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04873038 d:Goodwill 2017-01-01 2017-12-31 04873038 d:Goodwill 2017-12-31 04873038 d:Goodwill 2016-12-31 04873038 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-12-31 04873038 d:CurrentFinancialInstruments 2017-12-31 04873038 d:CurrentFinancialInstruments 2016-12-31 04873038 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 04873038 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04873038 d:ShareCapital 2017-12-31 04873038 d:ShareCapital 2016-12-31 04873038 d:ShareCapital 2016-01-01 04873038 d:RetainedEarningsAccumulatedLosses 2017-01-01 2017-12-31 04873038 d:RetainedEarningsAccumulatedLosses 2017-12-31 04873038 d:RetainedEarningsAccumulatedLosses 2016-01-01 2016-12-31 04873038 d:RetainedEarningsAccumulatedLosses 2016-12-31 04873038 d:RetainedEarningsAccumulatedLosses 2016-01-01 04873038 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-12-31 04873038 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 04873038 c:FRS102 2017-01-01 2017-12-31 04873038 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 04873038 c:FullAccounts 2017-01-01 2017-12-31 04873038 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 04873038 d:Subsidiary1 2017-12-31 04873038 d:Subsidiary1 2017-01-01 2017-12-31 04873038 d:Subsidiary1 1 2017-01-01 2017-12-31 iso4217:GBP xbrli:pure

Registered number: 04873038

ALEXANDER BEARD GLOBAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017


ALEXANDER BEARD GLOBAL SERVICES LIMITED REGISTERED NUMBER:04873038

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Intangible assets	5		232,249		244,473
Tangible assets	6		1,891		2,434
Investments	7		-		1,200
			234,140		248,107
Current assets
Debtors: amounts falling due within one year	8	24,408		35,787
Cash at bank and in hand	9	69,742		40,687
		94,150		76,474
Creditors: amounts falling due within one year	10	(201,327)		(142,161)
Net current liabilities			(107,177)		(65,687)
Total assets less current liabilities			126,963		182,420

Net assets			126,963		182,420

Capital and reserves
Called up share capital	124,587	124,587
Profit and loss account	2,376	57,833
	126,963	182,420

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2018.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED REGISTERED NUMBER:04873038

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2017

P D Beard

Director

The notes on pages 4 to 13 form part of these financial statements.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2017

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2016	124,587	107,163	231,750
Comprehensive income for the year
Profit for the year	-	330,670	330,670
Dividends: Equity capital	-	(380,000)	(380,000)

At 1 January 2017	124,587	57,833	182,420
Comprehensive income for the year
Profit for the year	-	144,543	144,543
Dividends: Equity capital	-	(200,000)	(200,000)
At 31 December 2017	124,587	2,376	126,963

The notes on pages 4 to 13 form part of these financial statements.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

Alexander Beard Global Services Limited is a private company limited by shares registered in England. The address of registered office is Unit 14-16 Rossmore Business Village, Inward Way, Ellesmere Port, Cheshire, CH65 3EY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

2.7

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Goodwill

years

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%
				Office equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.11

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.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short term 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.

2.14

Financial instruments

The Company only enters into basic financial instrument 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.14

Financial instruments (continued)

rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2016 - 1).

4.	Dividends
		2017	2016
		£	£

	Dividends paid on equity capital	200,000	380,000
		200,000	380,000

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2017	630,392
	At 31 December 2017	630,392
	Amortisation
	At 1 January 2017	385,919
	Charge for the year	12,224
	At 31 December 2017	398,143
	Net book value
	At 31 December 2017	232,249
	At 31 December 2016	244,473

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

6.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2017	10,485	7,826	18,311
At 31 December 2017	10,485	7,826	18,311
Depreciation
At 1 January 2017	8,937	6,940	15,877
Charge for the year on owned assets	344	199	543
At 31 December 2017	9,281	7,139	16,420
Net book value
At 31 December 2017	1,204	687	1,891
At 31 December 2016	1,548	886	2,434

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

7.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2017	1,200
	At 31 December 2017	1,200
	Impairment
	Charge for the period	1,200
	At 31 December 2017	1,200

	At 31 December 2017	-
	At 31 December 2016	1,200

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding	Principal activity

Alexander Beard (International Holdings) Limited

Ordinary

100%

Dormant

	The aggregate of the share capital and reserves as at 31 December 2017 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
		Aggregate of share capital and reserves
		£

	Alexander Beard (International Holdings) Limited	1,200
		1,200

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Debtors

					2017	2016
					£	£


Trade debtors	10,125	35,787
Prepayments and accrued income	14,283	-
	24,408	35,787

9.	Cash and cash equivalents
		2017	2016
		£	£

Cash at bank and in hand	69,742	40,687
Less: bank overdrafts	-	(6)
	69,742	40,681

10.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Bank overdrafts	-	6
Trade creditors	64,348	-
Amounts owed to group undertakings	-	63,228
Corporation tax	27,111	43,554
Other creditors	17,769	-
Dividend payable	77,268	-
Accruals and deferred income	14,831	35,373
	201,327	142,161

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ALEXANDER BEARD GLOBAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

11.	Financial instruments
		2017	2016
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	69,742	41,887

	Financial assets measured at fair value through profit or loss comprise cash at bank and investments in unlisted company shares.

12.	Controlling party

The Company's immediate parent company is The Alexander Beard Group of Companies Limited, a company incorporated in England. Mr P Beard, a director of the Company is the ultimate controlling party.

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