Realwire Limited - Accounts to registrar (filleted) - small 18.2

IRIS Accounts Production v18.3.0.590 04026690 Board of Directors 1.1.17 31.12.17 31.12.17 false true false false false true false Ordinary 0.01000 Ordinary A 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure040266902016-12-31040266902017-12-31040266902017-01-012017-12-31040266902015-12-31040266902016-01-012016-12-31040266902016-12-3104026690ns15:EnglandWales2017-01-012017-12-3104026690ns14:PoundSterling2017-01-012017-12-3104026690ns10:Director12017-01-012017-12-3104026690ns10:PrivateLimitedCompanyLtd2017-01-012017-12-3104026690ns10:SmallEntities2017-01-012017-12-3104026690ns10:AuditExemptWithAccountantsReport2017-01-012017-12-3104026690ns10:SmallCompaniesRegimeForDirectorsReport2017-01-012017-12-3104026690ns10:SmallCompaniesRegimeForAccounts2017-01-012017-12-3104026690ns10:FullAccounts2017-01-012017-12-310402669012017-01-012017-12-3104026690ns10:OrdinaryShareClass22017-01-012017-12-3104026690ns10:OrdinaryShareClass32017-01-012017-12-3104026690ns10:Director22017-01-012017-12-3104026690ns10:Director32017-01-012017-12-3104026690ns10:Director42017-01-012017-12-3104026690ns10:Director52017-01-012017-12-3104026690ns10:CompanySecretary12017-01-012017-12-3104026690ns10:RegisteredOffice2017-01-012017-12-3104026690ns5:CurrentFinancialInstruments2017-12-3104026690ns5:CurrentFinancialInstruments2016-12-3104026690ns5:Non-currentFinancialInstruments2017-12-3104026690ns5:Non-currentFinancialInstruments2016-12-3104026690ns5:ShareCapital2017-12-3104026690ns5:ShareCapital2016-12-3104026690ns5:RetainedEarningsAccumulatedLosses2017-12-3104026690ns5:RetainedEarningsAccumulatedLosses2016-12-3104026690ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2017-01-012017-12-3104026690ns5:ComputerSoftware2017-01-012017-12-3104026690ns5:FurnitureFittings2017-01-012017-12-3104026690ns5:ComputerEquipment2017-01-012017-12-3104026690ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2016-12-3104026690ns5:ComputerSoftware2016-12-3104026690ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2017-12-3104026690ns5:ComputerSoftware2017-12-3104026690ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2016-12-3104026690ns5:ComputerSoftware2016-12-3104026690ns5:FurnitureFittings2016-12-3104026690ns5:ComputerEquipment2016-12-3104026690ns5:FurnitureFittings2017-12-3104026690ns5:ComputerEquipment2017-12-3104026690ns5:FurnitureFittings2016-12-3104026690ns5:ComputerEquipment2016-12-3104026690ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-12-3104026690ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-3104026690ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2017-12-3104026690ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2016-12-3104026690ns10:OrdinaryShareClass22017-12-3104026690ns10:OrdinaryShareClass32017-12-3104026690ns5:RetainedEarningsAccumulatedLosses2016-12-3104026690ns5:RetainedEarningsAccumulatedLosses2017-01-012017-12-3104026690ns10:Director112016-12-3104026690ns10:Director112015-12-3104026690ns10:Director112017-01-012017-12-3104026690ns10:Director112016-01-012016-12-3104026690ns10:Director112017-12-3104026690ns10:Director112016-12-31

REGISTERED NUMBER: 04026690 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Realwire Limited

Page

Company Information

Chartered Accountants' Report

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

A M R Parker

J D Dolby

D C Sheppard

Mrs M L Glanville

Mrs E Gosling

SECRETARY:

Wilkin Chapman LLP

REGISTERED OFFICE:

Unit 1

Exchange Close

North Hykeham

Lincoln

Lincolnshire

LN6 3TR

REGISTERED NUMBER:

04026690 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Realwire Limited for the year ended 31 December 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Realwire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Realwire Limited and state those matters that we have agreed to state to the Board of Directors of Realwire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Realwire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Realwire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Realwire Limited. You consider that Realwire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Realwire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

31 October 2018

FIXED ASSETS

Intangible assets

Tangible assets

15,256

2,314

15,256

2,314

CURRENT ASSETS

Debtors

88,214

79,727

Cash at bank

54,676

34,117

142,890

113,844

CREDITORS

Amounts falling due within one year

56,528

46,232

NET CURRENT ASSETS

86,362

67,612

TOTAL ASSETS LESS CURRENT
LIABILITIES

101,618

69,926

CREDITORS

Amounts falling due after more than one
year

6,129

4,987

NET ASSETS

95,489

64,939

CAPITAL AND RESERVES

Called up share capital

8,827

Retained earnings

86,662

56,112

SHAREHOLDERS' FUNDS

95,489

64,939

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 31 October 2018 and were signed on its behalf
by:

A M R Parker - Director

1.	STATUTORY INFORMATION

Realwire 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.

Turnover

Turnover represents net invoiced provision of services, excluding value added tax, recognised as they are

rendered.

Development costs

The development costs relate to the research and development of prototype software packages. Costs

associated with research and development of the software packages are capitalised and are being amortised on

a straight line basis of between 17% to 33%.

Domain name

The intangible asset relates to the purchase of a domain name, which is now fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

33.33% Straight line

Computer software

33.33% Straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Domain

costs

name

Totals

COST

At 1 January 2017

and 31 December 2017

98,728

40,527

139,255

AMORTISATION

At 1 January 2017

and 31 December 2017

98,728

40,527

139,255

NET BOOK VALUE

At 31 December 2017

At 31 December 2016

5.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

software

Totals

COST

At 1 January 2017

34,786

29,355

64,141

Additions

14,707

At 31 December 2017

49,493

29,355

78,848

DEPRECIATION

At 1 January 2017

32,574

29,253

61,827

Charge for year

1,683

1,765

At 31 December 2017

34,257

29,335

63,592

NET BOOK VALUE

At 31 December 2017

15,236

15,256

At 31 December 2016

2,212

102

2,314

DEBTORS

2017

2016

Amounts falling due within one year:

Trade debtors

22,901

27,782

Other debtors

21,997

26,572

44,898

54,354

Amounts falling due after more than one year:

Other debtors

43,316

25,373

Aggregate amounts

88,214

79,727

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade creditors

22,188

10,619

Taxation and social security

19,479

19,614

Other creditors

14,861

15,999

56,528

46,232

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

Other creditors

6,129

4,987

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

832,721

Ordinary

8,327

50,000

Ordinary A

500

8,827

10.

RESERVES

Retained

earnings

At 1 January 2017

56,112

Profit for the year

43,041

Dividends

(12,491

)

At 31 December 2017

86,662

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

A M R Parker

Balance outstanding at start of year

(1,142

)

Amounts advanced

6,416

Amounts repaid

(1,215

)

Amounts written off

Amounts waived

Balance outstanding at end of year

5,274

(1,142

)

12.	RELATED PARTY DISCLOSURES

During the year the following transactions with Lissted Limited (a company with common directors) took place:

Purchases of £Nil (2016: £7,000)

Sales of £3,365 (2016: £17,699)

Paid expenses on behalf of Lissted Limited of £4,094 (2016: £2,524)

Made loans to Lissted Limited of £13,700 (2016: £10,000)

The net balance due to Realwire as at 31 December 2017 was £43,316 (2016: £25,373) and is shown in other

debtors due over one year.