Count Technologies Ltd (formerly Countopen Limited)

Count Technologies Ltd (formerly Countopen Limited)

COUNT TECHNOLOGIES LTD - Company Information

Print Friendly Version

1 April 2017 false Taxfiler 2018.5.Web true 10061321business:PrivateLimitedCompanyLtd2017-04-012018-03-31 100613212017-03-31 100613212017-04-012018-03-31 10061321business:AuditExemptWithAccountantsReport2017-04-012018-03-31 10061321business:FullAccounts2017-04-012018-03-31 100613212018-03-31 10061321business:Director12017-04-012018-03-31 10061321business:Director22017-04-012018-03-31 10061321business:Director32017-04-012018-03-31 10061321business:RegisteredOffice2017-04-012018-03-31 100613212017-03-31 10061321core:WithinOneYear2018-03-31 10061321core:WithinOneYear2017-03-31 10061321core:ShareCapital2018-03-31 10061321core:ShareCapital2017-03-31 10061321core:SharePremium2018-03-31 10061321core:SharePremium2017-03-31 10061321core:RetainedEarningsAccumulatedLosses2018-03-31 10061321core:RetainedEarningsAccumulatedLosses2017-03-31 10061321business:SmallEntities2017-04-012018-03-31 10061321countries:EnglandWales2017-04-012018-03-31 10061321core:PlantMachinery2017-04-012018-03-31 10061321core:ComputerEquipment2017-04-012018-03-31 10061321core:IntangibleAssetsOtherThanGoodwill2017-03-31 10061321core:IntangibleAssetsOtherThanGoodwill2017-04-012018-03-31 10061321core:IntangibleAssetsOtherThanGoodwill2018-03-31 10061321core:PlantMachinery2017-03-31 10061321core:ComputerEquipment2017-03-31 10061321core:PlantMachinery2018-03-31 10061321core:ComputerEquipment2018-03-31 100613212016-03-142017-03-31 iso4217:GBP xbrli:pure
Company Registration No. 10061321 (England and Wales)
Count Technologies Ltd (formerly Countopen Limited) Unaudited accounts for the year ended 31 March 2018
Count Technologies Ltd (formerly Countopen Limited) Unaudited accounts Contents
Page
- 2 -
Count Technologies Ltd (formerly Countopen Limited) Company Information for the year ended 31 March 2018
Directors
E Hill O Hughes O Pike
Company Number
10061321 (England and Wales)
Registered Office
Hill House 1 Little New Street London EC4A 3TR United Kingdom
Accountants
Deloitte LLP 1 New Street Square London EC4A 3BZ
- 3 -
Count Technologies Ltd (formerly Countopen Limited) Accountants' report
Accountants' report to the board of directors of Count Technologies Ltd (formerly Countopen Limited) on the preparation of the unaudited statutory accounts for the year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Count Technologies Ltd (formerly Countopen Limited) for the year ended 31 March 2018 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Count Technologies Ltd (formerly Countopen Limited), as a body, in accordance with the terms of our engagement letter dated 25 October 2017. Our work has been undertaken solely to prepare for your approval the accounts of Count Technologies Ltd (formerly Countopen Limited) and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Count Technologies Ltd (formerly Countopen Limited) and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Count Technologies Ltd (formerly Countopen Limited) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Count Technologies Ltd (formerly Countopen Limited). You consider that Count Technologies Ltd (formerly Countopen Limited) 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 accounts of Count Technologies Ltd (formerly Countopen Limited). 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 accounts.
Deloitte LLP 1 New Street Square London EC4A 3BZ 5 July 2018
- 4 -
Count Technologies Ltd (formerly Countopen Limited) Statement of financial position as at 31 March 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
10,741 
- 
Tangible assets
5
11,933 
568 
22,674 
568 
Current assets
Debtors
6
11,261 
29,565 
Cash at bank and in hand
1,573,330 
60,503 
1,584,591 
90,068 
Creditors: amounts falling due within one year
7
(14,368)
(1,642)
Net current assets
1,570,223 
88,426 
Net assets
1,592,897 
88,994 
Capital and reserves
Called up share capital
1,353 
1,059 
Share premium
2,046,555 
149,758 
Profit and loss account
(455,011)
(61,823)
Shareholders' funds
1,592,897 
88,994 
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 5 July 2018.
O Hughes Director Company Registration No. 10061321
- 5 -
Count Technologies Ltd (formerly Countopen Limited) Notes to the Accounts for the year ended 31 March 2018
1
Statutory information
Count Technologies Ltd (formerly Countopen Limited) is a private company, limited by shares, registered in England and Wales, registration number 10061321. The registered office is Hill House, 1 Little New Street, London, EC4A 3TR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company is supported through investments made by external shareholders and the directors are confident that this financial support will be sufficient for the company to continue in operational existence for at least twelve months from the signing of these financial statements. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.
Intangible fixed assets - website domain
Intangible fixed assets are included at cost less accumulated amortisation. Provision is made for any impairment. Amortisation is not charged until the asset is in use.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery
25% on cost
Computer equipment
20% on cost
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 6 -
Count Technologies Ltd (formerly Countopen Limited) Notes to the Accounts for the year ended 31 March 2018
Taxation
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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. Timing differences arises 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 period 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2017
- 
Additions
10,741 
At 31 March 2018
10,741 
Amortisation
At 1 April 2017
- 
At 31 March 2018
- 
Net book value
At 31 March 2018
10,741 
- 7 -
Count Technologies Ltd (formerly Countopen Limited) Notes to the Accounts for the year ended 31 March 2018
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2017
758 
- 
758 
Additions
- 
14,831 
14,831 
At 31 March 2018
758 
14,831 
15,589 
Depreciation
At 1 April 2017
190 
- 
190 
Charge for the year
568 
2,898 
3,466 
At 31 March 2018
758 
2,898 
3,656 
Net book value
At 31 March 2018
- 
11,933 
11,933 
At 31 March 2017
568 
- 
568 
6
Debtors
2018 
2017 
£ 
£ 
Other debtors
11,261 
29,565 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Trade creditors
13,443 
335 
Taxes and social security
873 
- 
Other creditors
52 
1,307 
14,368 
1,642 
8
Transactions with related parties
The number of directors in the company throughout the year was 3 (2017: 3). Remuneration was paid to the directors of £136,071 (2017: £65,779). The directors are the only key management personnel of the company.
9
Average number of employees
During the year the average number of employees was 4 (2017: 3).
- 8 -