Findmea.com Limited - Period Ending 2018-04-30

Registration number: 03049695

Findmea.com Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2018

Findmea.com Limited

Contents

Directors' Report	1
Accountants' Report	2
Profit and Loss Account	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 9
Detailed Profit and Loss Account	10

Findmea.com Limited

Directors' Report for the Year Ended 30 April 2018

The directors present their report and the financial statements for the year ended 30 April 2018.

Directors of the company

The directors who held office during the year were as follows:

Oliver Bailey (resigned 30 May 2018)

Graham Derek Woods

Charles Alec Guthrie

Principal activity

The principal activity of the company is provision of internet services related to chalet and other lettings for the ski and holiday market.

Going concern

The directors state that the use of the going concern basis is currently appropriate but there are material uncertainties relating to the liquidity of the company. A further significent drop in revenue will result in the default of creditor payments with directors unwilling to make further capital injections at this time.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 15 August 2018 and signed on its behalf by:

.........................................
Charles Alec Guthrie
Director

Page 1

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Findmea.com Limited
for the Year Ended 30 April 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Findmea.com Limited for the year ended 30 April 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

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

It is your duty to ensure that Findmea.com Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Findmea.com Limited. You consider that Findmea.com 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 accounts of Findmea.com 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 accounts.

......................................

Alan Tompkins, ACMA

15 August 2018

Page 2

Findmea.com Limited

Profit and Loss Account for the Year Ended 30 April 2018

	Note	2018 £	2017 £
Turnover		78,690	132,472
Cost of sales		(721)	(23,039)
Gross profit		77,969	109,433
Administrative expenses		(130,206)	(144,199)
Operating loss		(52,237)	(34,766)
Loss before tax	3	(52,237)	(34,766)
Taxation		(49)	-
Loss for the financial year		(52,286)	(34,766)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 3

Findmea.com Limited

(Registration number: 03049695)
Balance Sheet as at 30 April 2018

	Note	2018 £	2017 £
Fixed assets
Intangible assets	4	-	5,000
Tangible assets	5	715	2,506
		715	7,506
Current assets
Debtors	6	2,493	9,737
Cash at bank and in hand		1,256	1,100
		3,749	10,837
Creditors: Amounts falling due within one year	7	(90,516)	(52,109)
Net current liabilities		(86,767)	(41,272)
Net liabilities		(86,052)	(33,766)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(86,152)	(33,866)
Total equity		(86,052)	(33,766)

For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 August 2018 and signed on its behalf by:
 

.........................................

Charles Alec Guthrie

Director

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 4

Findmea.com Limited

Statement of Changes in Equity for the Year Ended 30 April 2018

	Share capital £	Profit and loss account £	Total £
At 1 May 2017	100	(33,866)	(33,766)
Loss for the year	-	(52,286)	(52,286)
At 30 April 2018	100	(86,152)	(86,052)

	Share capital £	Profit and loss account £	Total £
At 1 May 2016	100	900	1,000
Loss for the year	-	(34,766)	(34,766)
At 30 April 2017	100	(33,866)	(33,766)

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 5

Findmea.com Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3 Slaters Court
Princess Street
Knutsford
Cheshire
WA16 6BW
United Kingdom

The principal place of business is:
3 Slaters Court
Princess Street
Knutsford
Cheshire
WA16 6BW
United Kingdom

These financial statements were authorised for issue by the Board on 15 August 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The directors state that the use of the going concern basis is currently appropriate but there are material uncertainties relating to the liquidity of the company. A further significent drop in revenue will result in the default of creditor payments with directors unwilling to make further capital injections at this time.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 6

Findmea.com Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture & office equipment	25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Development costs	12.50% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Loss before tax

Arrived at after charging/(crediting)

	2018 £	2017 £
Depreciation expense	967	1,582
Amortisation expense	2,398	1,250

4	Intangible assets

	Other intangible assets  £
Cost or valuation
At 1 May 2017	10,000
Additions acquired separately	7,875
Disposals	(17,875)
At 30 April 2018	-
Amortisation
At 1 May 2017	5,000
Amortisation charge	2,398
Amortisation eliminated on disposals	(7,398)
At 30 April 2018	-
Carrying amount
At 30 April 2018	-
At 30 April 2017	5,000

5	Tangible assets

Page 7

Findmea.com Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

	Furniture, fittings and equipment  £
Cost or valuation
At 1 May 2017	9,240
Disposals	(5,473)
At 30 April 2018	3,767
Depreciation
At 1 May 2017	6,734
Charge for the year	967
Eliminated on disposal	(4,649)
At 30 April 2018	3,052
Carrying amount
At 30 April 2018	715
At 30 April 2017	2,506

6

Debtors

	2018  £	2017  £
Trade debtors	2,493	8,323
Other debtors	-	1,414
	2,493	9,737

7

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	19,406	15,595
Taxation and social security	838	2,037
Other creditors	70,272	34,477
	90,516	52,109

8	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Page 8

Findmea.com Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

9	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2018 £	2017 £
Remuneration	-	17,175

Page 9

Findmea.com Limited

Detailed Profit and Loss Account for the Year Ended 30 April 2018

	2018  £	2017  £
Turnover
Revenue	78,690	132,472
Cost of sales
Cost of sales	(721)	(23,039)
Employment costs
Wages and salaries (excluding directors)	(73,227)	(74,673)
Directors remuneration	-	(17,175)
Staff pensions (Defined contribution)	(460)	(52)
Subcontract cost	(1,520)	-
Commissions payable	-	(1,300)
Staff welfare	(75)	(41)
	(75,282)	(93,241)
Establishment costs
Rent	(4,888)	(7,487)
Insurance	(978)	(791)
	(5,866)	(8,278)
General administrative expenses
Telephone and fax	(1,444)	(4,012)
Computer software and maintenance costs	(1,503)	(766)
Printing, postage and stationery	(252)	(134)
Sundry expenses	-	(122)
Other premises costs	(350)	(4,768)
Motor expenses	(3,698)	(8,978)
Travel and subsistence	(1,111)	(5,930)
Advertising	(7,404)	(4,216)
Web development	(4,035)	(2,700)
Staff entertaining (allowable for tax)	(476)	(638)
Customer entertaining (disallowable for tax)	-	(138)
Accountancy fees	(6,673)	(6,386)
Legal and professional fees	(1,000)	-
Bad debts written off	(6,101)	-
	(34,047)	(38,788)
Finance charges
Bank charges	(345)	(1,060)
Depreciation costs
Amortisation of development costs	(2,398)	(1,250)
Depreciation of office equipment (owned)	(681)	(616)
Depreciation of other tangible (owned)	(286)	(966)
	(3,365)	(2,832)
Other expenses
(Profit)/loss on disposal of tangible fixed assets	(11,301)	-
Operating loss	(52,237)	(34,766)
Loss before tax	(52,237)	(34,766)

This page does not form part of the statutory financial statements.

Page 10