BRITEVERIFY UK LTD

BRITEVERIFY UK LTD

BRITEVERIFY UK LTD - Company Information

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BRITEVERIFY UK LTD

Company Registration Number:
08213725 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2017

Period of accounts

Start date: 01 January 2017

End date: 31 December 2017

BRITEVERIFY UK LTD

Contents of the Financial Statements

for the Period Ended 31 December 2017

Balance sheet
Notes

BRITEVERIFY UK LTD

Balance sheet

As at 31 December 2017


Notes
2017
2016


£
£
Current assets
Debtors: 2 151,893 131,714
Cash at bank and in hand: 85,270 125,480
Total current assets: 237,163 257,194
Creditors: amounts falling due within one year: 3 (109,979) (126,162)
Net current assets (liabilities): 127,184 131,032
Total assets less current liabilities: 127,184 131,032
Total net assets (liabilities): 127,184 131,032
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 127,183 131,031
Shareholders funds: 127,184 131,032

The notes form part of these financial statements

BRITEVERIFY UK LTD

Balance sheet statements

For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 October 2018
and signed on behalf of the board by:

Name: MR PAUL DEELEY
Status: Director

The notes form part of these financial statements

BRITEVERIFY UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2017

1. Accounting policies

International Financial Accounting Standards (IAS/IFRS) were chosen since the inception of the company.

Turnover policy

Turnover in the computation of retained earnings represents net invoiced sales of services excluding any VAT and in line with IAS 18, Revenue recognition.

Other accounting policies

All the financial statements were completed on a going concern basis.The historic cost convention was used in the preparation of these accounts.In line with IAS 21, foreign currency transactions were valued at their sterling equivalent at the time of posting. Any exchange gains or losses were subsequently calculated and taken to the income statement. Monetary items at the balance sheet date were translated into the sterling equivalent and any gain or losses were once again taken to the income statement. No forward contract rates have been used.

BRITEVERIFY UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2017

2. Debtors

2017 2016
££
Debtors due after more than one year: 151,893 131,714

Included in the debtors figure above, exists £79,749 for financial year ending 2017, and £63,307 for 2016, that represented a short term loan extended from the parent company, Origin Adds LLC. No interest charges apply on this borrowing.

BRITEVERIFY UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2017

3. Creditors: amounts falling due within one year note

Included in the figure for creditors, includes corporation tax amounting to £91,526 for 2017 and £113,705 for 2016.The figures for VAT were £16,214 and £11,603 for the same years respectively.

BRITEVERIFY UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2017

4. Related party transactions

Name of the related party: Mr. Tobias La Cour
Relationship:
Director during the Financial Year
Description of the Transaction: Mr. La Cour transacted with the company during the year using his own company, Somebody Digital Limited. The value of these arms length transactions amounted to £372,905 (net of VAT) for the year ending 2017. The work represented professional marketing and sales based services rendered to the company.There was no provision for bad debt, nor were any amounts written off relating to the invoices above, and at the balance sheet date, all invoices pertaining to this related party were fully paid.
£
Balance at 01 January 2017 0
Balance at 31 December 2017 0

BRITEVERIFY UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2017

5. Post balance sheet events

On the 1st June 2018, Briteverify UK Limited and its parent US company Origin Adds LLC, was taken over by Validity Inc, (Deleware USA, 001328944).The directorship of the older directors was terminated on this date, with a new board being appointed on the same date.