CNL Software Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03739088 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

CNL Software Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K I Bloodworth

SECRETARY:

K F P Arfwidsson

REGISTERED OFFICE:

CNL Software

Building 11

Watchmoor Park

Camberley

Surrey

GU15 3YL

REGISTERED NUMBER:

03739088 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Bus Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

FIXED ASSETS

Tangible assets

4

181,202

71,322

Investments

5

9

40,993

181,211

112,315

CURRENT ASSETS

Debtors

6

5,747,627

3,472,394

Cash at bank

31,865

1,204,260

5,779,492

4,676,654

CREDITORS

Amounts falling due within one year

7

2,394,952

1,675,878

NET CURRENT ASSETS

3,384,540

3,000,776

TOTAL ASSETS LESS CURRENT LIABILITIES

3,565,751

3,113,091

CREDITORS

Amounts falling due after more than one year

8

(3,699,366

)

(3,411,536

)

PROVISIONS FOR LIABILITIES

(24,951

)

-

NET LIABILITIES

(158,566

)

(298,445

)

CAPITAL AND RESERVES

Called up share capital

9

270,858

250,458

Share premium

67,142

63,542

Other reserves

14

14

Retained earnings

(496,580

)

(612,459

)

SHAREHOLDERS' FUNDS

(158,566

)

(298,445

)

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 12 December 2018 and were signed by:

K I Bloodworth - Director

1.	STATUTORY INFORMATION

CNL Software 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Research and development

Expenditure on research and development is written off 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

accounting 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 34 (2017 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2017

47,963

57,088

398,926

503,977

Additions

55,425

33,344

72,060

160,829

Disposals

(47,963

)

-

-

(47,963

)

At 31 March 2018

55,425

90,432

470,986

616,843

DEPRECIATION

At 1 April 2017

47,963

50,655

334,037

432,655

Charge for year

5,543

4,619

40,787

50,949

Eliminated on disposal

(47,963

)

-

-

(47,963

)

At 31 March 2018

5,543

55,274

374,824

435,641

NET BOOK VALUE

At 31 March 2018

49,882

35,158

96,162

181,202

At 31 March 2017

-

6,433

64,889

71,322

5.	FIXED ASSET INVESTMENTS

31.3.18

31.3.17

£

£

Shares in group undertakings

9

9

Loans to group undertakings

-

40,984

9

40,993

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

9

NET BOOK VALUE

At 31 March 2018

9

At 31 March 2017

9

Loans to

group

undertakings

£

At 1 April 2017

40,984

New in year

441,860

Repayment in year

(482,844

)

At 31 March 2018

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

5,597,334

3,350,402

Other debtors

150,293

121,992

5,747,627

3,472,394

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

77,520

54,524

Taxation and social security

91,885

218,480

Other creditors

2,225,547

1,402,874

2,394,952

1,675,878

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

3,699,366

3,411,536

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

27,085,795

Ordinary

1p

270,858

250,458

(31.3.17 - 25,045,795 )

A total of 2040000 Ordinary shares of 1p were issued during the year as follows:

2000000 for cash of £ 20,000

40,000 for cash of £ 4,000

10.	RELATED PARTY DISCLOSURES

The company has a wholly owned subsidiary in the United States of America. Sales to that company totalled

£1,795,961 (2017:£925,539) and the balance due to CNL Software Limited at 31st March 2018 included in

debtors was £3,729,012 (2017:£2,080,406)