Command Solutions Ltd 31/03/2019 iXBRL

Command Solutions Ltd 31/03/2019 iXBRL

COMMAND SOLUTIONS LIMITED - Company Information

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Company registration number: 10346331
Command Solutions Ltd
Unaudited filleted financial statements
31 March 2019
Command Solutions Ltd
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
Command Solutions Ltd
Directors and other information
Directors Mr R Coulman
Mr S M Close
Mr I Hayton
Mr G Cawley
Company number 10346331
Registered office L104 Fusion Hive
North Shore Road
Stockton-On-Tees
TS18 2NB
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Command Solutions Ltd
Directors report
Year ended 31 March 2019
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2019.
Directors
The directors who served the company during the year were as follows:
Mr R Coulman
Mr S M Close
Mr I Hayton
Mr G Cawley
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 December 2019 and signed on behalf of the board by:
Mr R Coulman
Director
Command Solutions Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Command Solutions Ltd
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Command Solutions Ltd for the year ended 31 March 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Command Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Command Solutions Ltd and state those matters that we have agreed to state to the board of directors of Command Solutions Ltd as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Command Solutions Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Command Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Command Solutions Ltd. You consider that Command Solutions Ltd 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 financial statements of Command Solutions Ltd. 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 financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
20 December 2019
Command Solutions Ltd
Statement of financial position
31 March 2019
31/03/19 31/03/18
Note £ £ £ £
Fixed assets
Intangible assets 4 281,000 281,000
Tangible assets 5 1,185 1,685
_______ _______
282,185 282,685
Current assets
Debtors 6 196 576
Cash at bank and in hand 5,590 8,230
_______ _______
5,786 8,806
Creditors: amounts falling due
within one year 7 ( 11,216) ( 7,057)
_______ _______
Net current (liabilities)/assets ( 5,430) 1,749
_______ _______
Total assets less current liabilities 276,755 284,434
_______ _______
Net assets 276,755 284,434
_______ _______
Capital and reserves
Called up share capital 200 200
Share premium account 299,800 299,800
Profit and loss account ( 23,245) ( 15,566)
_______ _______
Shareholders funds 276,755 284,434
_______ _______
For the year ending 31 March 2019 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 December 2019 , and are signed on behalf of the board by:
Mr R Coulman
Director
Company registration number: 10346331
Command Solutions Ltd
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is L104 Fusion Hive, North Shore Road, Stockton-On-Tees, TS18 2NB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 April 2018 and 31 March 2019 281,000 281,000
_______ _______
Amortisation
At 1 April 2018 and 31 March 2019 - -
_______ _______
Carrying amount
At 31 March 2019 281,000 281,000
_______ _______
At 31 March 2018 281,000 281,000
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2018 and 31 March 2019 2,002 2,002
_______ _______
Depreciation
At 1 April 2018 317 317
Charge for the year 500 500
_______ _______
At 31 March 2019 817 817
_______ _______
Carrying amount
At 31 March 2019 1,185 1,185
_______ _______
At 31 March 2018 1,685 1,685
_______ _______
6. Debtors
31/03/19 31/03/18
£ £
Other debtors 196 576
_______ _______
7. Creditors: amounts falling due within one year
31/03/19 31/03/18
£ £
Bank loans and overdrafts 8,963 -
Trade creditors - 5,000
Other creditors 2,253 2,057
_______ _______
11,216 7,057
_______ _______