Numeriq Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC247150 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Numeriq Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D P Oxley

SECRETARY:

D P Oxley

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC247150 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

BANKERS:

Bank of Scotland

8 Lochside Avenue

Edinburgh

EH12 9DJ

FIXED ASSETS

Intangible assets

3

-

100

Tangible assets

4

1,129

2,143

1,129

2,243

CURRENT ASSETS

Debtors

5

4,425

4,330

Cash at bank

2,231

1,180

6,656

5,510

CREDITORS

Amounts falling due within one year

6

7,583

7,379

NET CURRENT LIABILITIES

(927

)

(1,869

)

TOTAL ASSETS LESS CURRENT LIABILITIES

202

374

PROVISIONS FOR LIABILITIES

7

192

364

NET ASSETS

10

10

CAPITAL AND RESERVES

Called up share capital

8

10

10

SHAREHOLDERS' FUNDS

10

10

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 September 2019 and were signed by:

D P Oxley - Director

1.	STATUTORY INFORMATION

Numeriq Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from the supply of services represent the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at fair value

of the consideration received or receivable.

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.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost,

less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment

-

33% on cost

Fixtures and fittings

-

20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2018

249

Disposals

(100

)

At 31 December 2018

149

AMORTISATION

At 1 January 2018

and 31 December 2018

149

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

100

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

394

6,955

7,349

DEPRECIATION

At 1 January 2018

79

5,127

5,206

Charge for year

79

935

1,014

At 31 December 2018

158

6,062

6,220

NET BOOK VALUE

At 31 December 2018

236

893

1,129

At 31 December 2017

315

1,828

2,143

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

2,135

2,003

Other debtors

2,290

2,327

4,425

4,330

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

65

1,065

Taxation and social security

6,518

5,256

Other creditors

1,000

1,058

7,583

7,379

7.	PROVISIONS FOR LIABILITIES

31.12.18

31.12.17

£

£

Deferred tax

192

364

Deferred

tax

£

Balance at 1 January 2018

364

Provided during year

(172

)

Balance at 31 December 2018

192

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

10

Ordinary

£1

10

10

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

D P Oxley

Balance outstanding at start of year

2,285

685

Amounts advanced

3,224

5,707

Amounts repaid

(3,261

)

(4,107

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,248

2,285

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £17,097 (2017 - £10,747) were paid to the director .

Transactions with related parties during the year and balances outstanding at the year end were as follows:

Related Party

Type of Transaction

Transaction

Balance receivable from or (payable to) related party as at 31.12.18

Balance receivable from or (payable to) related party a at 31.12.17

£

£

Shareholder

Dividends

£5,156 (2017: £4,606)

Nil

Nil

The above shareholder is a family member of the director of the company.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D P Oxley.