Operatix Limited 31/01/2018 iXBRL

Operatix Limited 31/01/2018 iXBRL

OPERATIX LIMITED - Company Information

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31/01/2018 2018-01-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-02-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 07906966 2017-02-01 2018-01-31 07906966 2018-01-31 07906966 2016-02-01 2017-01-31 07906966 2017-01-31 07906966 2016-01-31 07906966 bus:Director2 2017-02-01 2018-01-31 07906966 bus:Director3 2017-02-01 2018-01-31 07906966 core:ShareCapital 2016-02-01 2017-01-31 07906966 core:CapitalRedemptionReserve 2016-02-01 2017-01-31 07906966 core:RetainedEarningsAccumulatedLosses 2016-02-01 2017-01-31 07906966 core:ShareCapital 2017-02-01 2018-01-31 07906966 core:CapitalRedemptionReserve 2017-02-01 2018-01-31 07906966 core:RetainedEarningsAccumulatedLosses 2017-02-01 2018-01-31 07906966 core:WithinOneYear 2018-01-31 07906966 core:WithinOneYear 2017-01-31 07906966 core:ShareCapital 2018-01-31 07906966 core:ShareCapital 2017-01-31 07906966 core:CapitalRedemptionReserve 2018-01-31 07906966 core:CapitalRedemptionReserve 2017-01-31 07906966 core:RetainedEarningsAccumulatedLosses 2018-01-31 07906966 core:RetainedEarningsAccumulatedLosses 2017-01-31 07906966 core:ShareCapital 2016-01-31 07906966 core:RetainedEarningsAccumulatedLosses 2016-01-31 07906966 bus:Director3 2018-01-31 07906966 bus:SmallEntities 2017-02-01 2018-01-31 07906966 bus:AuditExempt-NoAccountantsReport 2017-02-01 2018-01-31 07906966 bus:FullAccounts 2017-02-01 2018-01-31 07906966 bus:SmallCompaniesRegimeForAccounts 2017-02-01 2018-01-31 07906966 bus:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31
Company registration number: 07906966
Operatix Limited
Unaudited filleted financial statements
31 January 2018
Operatix Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Operatix Limited
Statement of financial position
31 January 2018
2018 2017
Note £ £ £ £
Current assets
Debtors 5 964,638 878,892
Cash at bank and in hand 91,597 99,450
_______ _______
1,056,235 978,342
Creditors: amounts falling due
within one year 6 ( 297,506) ( 309,753)
_______ _______
Net current assets 758,729 668,589
_______ _______
Total assets less current liabilities 758,729 668,589
_______ _______
Net assets 758,729 668,589
_______ _______
Capital and reserves
Called up share capital 909 1,065
Capital redemption reserve 274 118
Profit and loss account 757,546 667,406
_______ _______
Shareholders funds 758,729 668,589
_______ _______
For the year ending 31 January 2018 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 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.
These financial statements were approved by the board of directors and authorised for issue on 18 June 2018 , and are signed on behalf of the board by:
A Mottier R J P Westell
Director Director
Company registration number: 07906966
Operatix Limited
Statement of changes in equity
Year ended 31 January 2018
Called up share capital Capital redemption reserve Profit and loss account Total
£ £ £ £
At 1 February 2016 1,183 - 471,579 472,762
Profit for the year 299,389 299,389
_______ _______ _______ _______
Total comprehensive income for the year - - 299,389 299,389
Purchase of own shares ( 118) 118 ( 103,562) ( 103,562)
_______ _______ _______ _______
Total investments by and distributions to owners ( 118) 118 ( 103,562) ( 103,562)
_______ _______ _______ _______
At 31 January 2017 and 1 February 2017 1,065 118 667,406 668,589
Profit for the year 228,220 228,220
_______ _______ _______ _______
Total comprehensive income for the year - - 228,220 228,220
Purchase of own shares ( 156) 156 ( 138,080) ( 138,080)
_______ _______ _______ _______
Total investments by and distributions to owners ( 156) 156 ( 138,080) ( 138,080)
_______ _______ _______ _______
At 31 January 2018 909 274 757,546 758,729
_______ _______ _______ _______
Operatix Limited
Notes to the financial statements
Year ended 31 January 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 2 Ancells Court, Rye Close, Fleet, Hampshire, GU51 2UY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 in finance costs 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 38 (2017: 36 ).
5. Debtors
2018 2017
£ £
Trade debtors 167,754 225,100
Other debtors 796,884 653,792
_______ _______
964,638 878,892
_______ _______
6. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 32,464 -
Corporation tax 57,676 76,616
Social security and other taxes 107,677 103,053
Other creditors 99,689 130,084
_______ _______
297,506 309,753
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
R J P Westell - 6,000 6,000
_______ _______ _______
The above advance to the director is interest free and repayable within nine months of the year end.