Loyalty Logistix Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04991455 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

LOYALTY LOGISTIX LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Chartered certified accountants' report

9

DIRECTOR:

R H Williams

SECRETARY:

R H Williams

REGISTERED OFFICE:

M-Sparc

Menai Science Park

Gaerwen

Anglesey

LL60 6AG

REGISTERED NUMBER:

04991455 (England and Wales)

ACCOUNTANTS:

Fraser Wood Limited

Chartered Certified Accountants

Victoria House

Plas Llwyd Terrace

Bangor

Gwynedd

LL57 1UB

FIXED ASSETS

Intangible assets

4

1,994,982

2,230,518

Tangible assets

5

30,411

54,866

Investments

6

-

-

2,025,393

2,285,384

CURRENT ASSETS

Stocks

47,060

41,441

Debtors

7

1,186,349

979,181

Cash at bank and in hand

1,336,848

1,086,402

2,570,257

2,107,024

CREDITORS

Amounts falling due within one year

8

(366,679

)

(440,700

)

NET CURRENT ASSETS

2,203,578

1,666,324

TOTAL ASSETS LESS CURRENT LIABILITIES

4,228,971

3,951,708

CREDITORS

Amounts falling due after more than one year

9

(85,995

)

(165,401

)

PROVISIONS FOR LIABILITIES

(373,006

)

(6,228

)

NET ASSETS

3,769,970

3,780,079

CAPITAL AND RESERVES

Called up share capital

38,360

38,360

Retained earnings

3,731,610

3,741,719

SHAREHOLDERS' FUNDS

3,769,970

3,780,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 December 2018 and were signed by:

R H Williams - Director

1.	STATUTORY INFORMATION

Loyalty Logistix 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 amounts receivable for computer software design and consultancy net of V. A. T.

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.

Software development costs are being amortised evenly over their estimated useful life of three years.

Intellectual property is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for diminution in value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

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.

Software development

Expenditure on software development is capitalised in the year in which it is incurred.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Revenue recognition

Income represents revenue earned under a wide variety of contracts to provide professional services.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to

consideration in exchange for its performance under these contracts. It is measured at the fair value of

the right to consideration, which represents amounts chargeable to clients, including expenses and

disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it

reflects the partial performance of the contractual obligations. For such contracts the amount of

revenue reflects the accrual of the right to consideration by reference to the value of work performed.

Revenue not billed to clients is included in debtors and payments on account in excess of the relevant

amount of revenue are included in creditors.

Income that is contingent on events outside the control of the firm is recognised when the contingent

event occurs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2017 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

3,154,699

Additions

796,081

At 31 March 2018

3,950,780

AMORTISATION

At 1 April 2017

924,181

Charge for year

1,031,617

At 31 March 2018

1,955,798

NET BOOK VALUE

At 31 March 2018

1,994,982

At 31 March 2017

2,230,518

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

432,459

Additions

21,869

Disposals

(2,367

)

At 31 March 2018

451,961

DEPRECIATION

At 1 April 2017

377,593

Charge for year

44,795

Eliminated on disposal

(838

)

At 31 March 2018

421,550

NET BOOK VALUE

At 31 March 2018

30,411

At 31 March 2017

54,866

6.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 April 2017

and 31 March 2018

15,125

PROVISIONS

At 1 April 2017

and 31 March 2018

15,125

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

1,140,349

820,466

Other debtors

46,000

158,715

1,186,349

979,181

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

79,406

169,029

Payments on account

-

37,500

Trade creditors

169,632

141,162

Taxation and social security

68,922

72,416

Other creditors

48,719

20,593

366,679

440,700

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

85,995

165,401

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

165,401

334,238

The bank loans are secured by fixed and floating charges over the assets of the company.

11.

CONTROL

The following reproduces the text of the report prepared for the director 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 Director's report 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 accounts of Loyalty Logistix Limited for the year ended 31 March 2018 from the Company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical

and other professional requirements which are detailed at http://rulebook.accaglobal.com.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified

Accountants as detailed at http://www.accaglobal.com/factsheet163.

Fraser Wood Limited

Chartered Certified Accountants

Victoria House

Plas Llwyd Terrace

Bangor

Gwynedd

LL57 1UB

20 December 2018