Office For Public Management Limited
Office For Public Management Limited
Registered number: 02343617
Unaudited Financial Statements
For The Year Ended 31 March 2018
Office For Public Management Limited
Unaudited Financial Statements
For The Year Ended 31 March 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—7 |
Office For Public Management Limited
Balance Sheet
As at
31 March 2018
Balance Sheet
Registered number:
02343617
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 6 |
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| Tangible Assets | 7 |
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| Investments | 8 |
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| CURRENT ASSETS | |||||
| Debtors | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 11 |
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| PROVISIONS FOR LIABILITIES | |||||
| Provisions For Charges | 12 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 13 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 500,862 | 812,596 | |||
Page 1
Office For Public Management Limited
Balance Sheet (continued)
As at
31 March 2018
Directors' responsibilities:
-
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. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 7 form part of these financial statements.
Page 2
Office For Public Management Limited
Notes to the Financial Statements
For The Year Ended 31 March 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software that has been developed inhouse. It is amortised to profit and loss account over its estimated economic life of 3 years from the date of utilisation.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Office For Public Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Total employees |
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6.
Intangible Assets
| Development Costs | |||
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| £ | |||
| Cost | |||
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| Additions |
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| Net Book Value | |||
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7.
Tangible Assets
| Land & Property | ||||
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| Leasehold | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at |
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| As at |
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| Net Book Value | ||||
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Page 4
Office For Public Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
8.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at |
729,763 |
| Revaluations | (729,763) |
| As at |
- |
| Provision | |
| As at |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
729,763 |
The company owns the entire issued share capital of Dialogue by Design Limited, a company regsitered in England.
The directors have valued the investment in Dialogue by Design Limited at 31 March 2018 as £nil (2017: £729,763), which has created a loss on revaluation of £729,763 to the profit & loss account.
9.
Debtors
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| Deferred tax current asset | 289,239 | 192,864 | |
| Amounts owed by group undertakings |
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Financial assets are recognised at amortised cost
Page 5
Office For Public Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
10.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Payments in advance |
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| Accruals and deferred income |
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Financial liabilities are recognised at amortised cost
11.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans |
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12.
Provisions for Liabilities
| Deferred Tax | Other Provisions | |
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| £ | £ | |
| As at |
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| Additions |
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| Utlised |
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| Increase/(Decrease) in the year |
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| Balance at |
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Other Provision comprises a provision for annual leave of £27,641 (2017: £29,508) and a dilapidation charge of £102,396 (2017: £102,396) made to recognise the estimated cost to return the leased property to its original condition in future years. The latest dilapidation assessment report was prepared in April 2016.
The Deferred Tax Asset is shown within Debtors (note 9).
Page 6
Office For Public Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
14.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Other | ||
|---|---|---|
| 2018 | 2017 | |
| £ | £ | |
| Between 1 and 5 years | 116,324 | 116,324 |
| 116,324 | 116,324 | |
15.
General Information
Office For Public Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02343617 . The registered office is 252b Grays Inn Road, London, WC1X 8XG.
Page 7