Hercules Software Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10075020 (England and Wales)

HERCULES SOFTWARE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N J Barnett

N M J Gorey

REGISTERED OFFICE:

Centenary House Upper First Floor

Palliser Road

London

W14 9EG

REGISTERED NUMBER:

10075020 (England and Wales)

FIXED ASSETS

Intangible assets

3

497,373

454,772

CURRENT ASSETS

Debtors

4

600

600

CREDITORS

Amounts falling due within one year

5

(162,574

)

-

NET CURRENT (LIABILITIES)/ASSETS

(161,974

)

600

TOTAL ASSETS LESS CURRENT LIABILITIES

335,399

455,372

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Share premium

523,337

523,337

Retained earnings

(189,938

)

(69,965

)

335,399

455,372

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 17 September 2018 and were signed on its behalf by:

N M J Gorey - Director

1.	STATUTORY INFORMATION

Hercules Software 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.

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.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

The directors consider the economic useful life and estimation of the carrying value of intangibles to be

the key judgements and and estimation uncertainty that has a significant effect on the amounts

recognised in the financial statements.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Development costs are capitalised as the software asset created is used by other group companies to

generate revenue.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the

current or past reporting periods using tax rates that have been enacted or substantively enacted by

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 only to the extent that it is probable that they will

be recovered against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2017

524,737

Additions

162,574

At 31 December 2017

687,311

AMORTISATION

At 1 January 2017

69,965

Charge for year

119,973

At 31 December 2017

189,938

NET BOOK VALUE

At 31 December 2017

497,373

At 31 December 2016

454,772

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

600

600

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

162,574

-

6.	RELATED PARTY DISCLOSURES

The company's parent company is Rocketer Consulting Limited, a company registered in England and

Wales.

The registered office of Rocketer Consulting Limited is Centenary House Upper First Floor, Palliser

Road, London, W14 9EQ and company's registered number is 08154236.

The company has granted a licence to its parent company for use of the software that it is developing.

The licence is at zero cost.