Decision Support Tools Limited - Period Ending 2018-12-31

Registration number: 05901006

Decision Support Tools Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2018

Decision Support Tools Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Decision Support Tools Limited

(Registration number: 05901006)
Balance Sheet as at 31 December 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	941	1,256
Current assets
Debtors	5	5,084	30,450
Cash at bank and in hand		1,500	1,568
		6,584	32,018
Creditors: Amounts falling due within one year	6	(78,944)	(41,913)
Net current liabilities		(72,360)	(9,895)
Total assets less current liabilities		(71,419)	(8,639)
Creditors: Amounts falling due after more than one year	6	-	(245,758)
Net liabilities		(71,419)	(254,397)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(71,420)	(254,398)
Total equity		(71,419)	(254,397)

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

Decision Support Tools Limited

(Registration number: 05901006)
Balance Sheet as at 31 December 2018

Approved and authorised by the director on 30 September 2019
 

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

J W Woodhouse
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

Decision Support Tools Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

1	General information

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

The address of its registered office is:
Prince Henry House
Kingsclere Business Park
Kingsclere
Hampshire
RG20 4SW
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of the sale of decision support software tools to customers in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover has been adjusted by deferred income included within other creditors.

Tax

The tax expense for the period comprises current tax payable.

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.

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
Office equipment	25% per annum of net book value

Page 3

Decision Support Tools Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Development costs

Development expenditure incurred is expensed to the profit and loss account.

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
Goodwill	10% per annum of cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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Decision Support Tools Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

3	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2018	252,188	252,188
At 31 December 2018	252,188	252,188
Amortisation
At 1 January 2018	252,188	252,188
At 31 December 2018	252,188	252,188
Carrying amount
At 31 December 2018	-	-

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 January 2018	16,731	16,731
At 31 December 2018	16,731	16,731
Depreciation
At 1 January 2018	15,476	15,476
Charge for the year	314	314
At 31 December 2018	15,790	15,790
Carrying amount
At 31 December 2018	941	941
At 31 December 2017	1,256	1,256

5

Debtors

Page 5

Decision Support Tools Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

	2018 £	2017 £
Trade debtors	3,294	30,450
Prepayments	700	-
Other debtors	1,090	-
	5,084	30,450

6

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	15,419	5,833
Taxation and social security	37,737	18,515
Other creditors	25,788	17,565
	78,944	41,913

Creditors: amounts falling due after more than one year

	2018 £	2017 £
Due after one year
Other non-current financial liabilities	-	245,758

7	Related party transactions

Summary of transactions with parent

During the year the company made the following related party transactions:

The Woodhouse Partnership Limited made a loan to the company. At the balance sheet date the amount due to The Woodhouse Partnership Limited was £nil (2017: £245,758).

During the year net sales of £350,759 (2017: £166,313) were made to, and net purchases of £34,201 (2017: £1,635) were made from The Woodhouse Partnership Limited. At the year end £3,294 was due from (2017: £30,450) the Woodhouse Partnership Limited and is included within trade debtors (2017: trade debtors).

 

Page 6

Decision Support Tools Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

8	Parent and ultimate parent undertaking

The company's immediate parent is The Woodhouse Partnership Limited, incorporated in England.

 The ultimate controlling party is J W and V A Woodhouse.

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