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Registered number: 08397664
COMPARABIEN LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
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COMPARABIEN LIMITED
Company Information
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COMPARABIEN LIMITED
Registered number: 08397664
Balance sheet
As at 31 December 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The Company has opted not to file the Profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
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COMPARABIEN LIMITED
Registered number: 08397664
Balance sheet (continued)
As at 31 December 2018
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 December 2019.
The notes on pages 3 to 8 form part of these financial statements.
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
Comparabien Limited is a private company limited by shares and is incorporated in the United Kingdom and registered in England and Wales. The principal activity of the company is that of a holding company.
The Company's registered office is Devonshire House, 60 Goswell Road, London, EC1M 7AD.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.
Basic financial instruments, including trade and other creditors, are measured at the transaction price.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and loss account within 'other operating income'.
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The average monthly number of employees, including directors, during the year was 2 (2017 - 2).
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Financial product comparison websites
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Financial product comparison websites
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The aggregate of the share capital and reserves as at 31 December 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
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Amounts owed by group undertakings
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Called up share capital not paid
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Shares classified as equity
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Allotted, called up and partly paid
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13,528 Ordinary shares of £0.01 each
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COMPARABIEN LIMITED
Notes to the financial statements
For the Year Ended 31 December 2018
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Related party transactions
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During the year, a director of the company was reimbursed for expenses (incurred on behalf of the company in 2017) totalling £1,440, as well as receiving a cash advance of £30.00. At the year end the company owed £21,123 (2017: £22,593) to the company director.
The company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, which are wholly owned.
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