SDS Archive Manager Limited Company Accounts

SDS ARCHIVE MANAGER LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09626253

SDS Archive Manager Limited

Filleted Unaudited Financial Statements

30 June 2017

SDS Archive Manager Limited

Financial Statements

Year ended 30 June 2017

Contents	Page

Balance sheet	1

Statement of changes in equity	3

Notes to the financial statements	4

SDS Archive Manager Limited

Balance Sheet

30 June 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	4		60,000	80,000

Current assets

Debtors	5	11,311	–
Cash at bank and in hand		156	161
		--------	----
		11,467	161

Creditors: amounts falling due within one year	6	30,798		20,516
		--------		--------
Net current liabilities			19,331	20,355
			--------	--------
Total assets less current liabilities			40,669	59,645

Creditors: amounts falling due after more than one year	7	40,000	60,000
		--------	--------
Net assets/(liabilities)		669	( 355)
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	668	( 356)
	----	----
Shareholders funds/(deficit)	669	( 355)
	----	----

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.

For the year ending 30 June 2017 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SDS Archive Manager Limited

Balance Sheet (continued)

30 June 2017

These financial statements were approved by the board of directors and authorised for issue on 8 March 2018 , and are signed on behalf of the board by:

Mr M Coleman
Director

Company registration number: 09626253

SDS Archive Manager Limited

Statement of Changes in Equity

Year ended 30 June 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 5 June 2015	–	–	–

Loss for the year		( 356)	( 356)
	----	----	----
Total comprehensive income for the year	–	( 356)	( 356)

Issue of shares	1	–	1
	----	----	----
Total investments by and distributions to owners	1	–	1

At 30 June 2016	1	( 356)	( 355)

Profit for the year		1,024	1,024
	----	-------	-------
Total comprehensive income for the year	–	1,024	1,024

	----	-------	-------
At 30 June 2017	1	668	669
	----	-------	-------

SDS Archive Manager Limited

Notes to the Financial Statements

Year ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Brackley Close, Bournemouth International Airport, Hurn, Christchurch, Dorset, BH23 6SE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 5 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

Current tax is recognised on taxable profit for the current and, where not previously recognised, 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 revalued amounts, 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.

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:

	Software	-	20% straight line

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 to reflect the new estimates.

Impairment of fixed assets

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Intangible assets

	Development costs
	£
Cost
At 1 July 2016 and 30 June 2017	100,000
	---------
Amortisation
At 1 July 2016	20,000
Charge for the year	20,000
	---------
At 30 June 2017	40,000
	---------
Carrying amount
At 30 June 2017	60,000
	---------
At 30 June 2016	80,000
	---------

5. Debtors

	2017	2016
	£	£
Trade debtors	7,127	–
Other debtors	4,184	–
	--------	----
	11,311	–
	--------	----

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	20,000	20,000
Corporation tax	164	–
Other creditors	10,634	516
	--------	--------
	30,798	20,516
	--------	--------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Trade creditors	40,000	60,000
	--------	--------

8. Related party transactions

Information about related party transactions and outstanding balances is outlined below: Key management personnel:

	2017	2016
	£	£
Balance due to key management personnel	66	6
	----	----

Other related parties: - due to common directorships

	2017	2016
	£	£
Sales to related companies	( 7,295)	15,873
	-------	--------
Purchases from related companies	15,978	11,929
	--------	--------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 5 June 2015.

No transitional adjustments were required in equity or profit or loss for the period.