John Laing Software Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08748727 (England and Wales)

JOHN LAING SOFTWARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B Laing

Mrs S Laing

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandlers Ford

Eastleigh

Hampshire

SO53 4AR

REGISTERED NUMBER:

08748727 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,094

1,383

CURRENT ASSETS

Debtors

5

19,800

62,272

Cash at bank

154,822

103,087

174,622

165,359

CREDITORS

Amounts falling due within one year

6

(24,551

)

(10,255

)

NET CURRENT ASSETS

150,071

155,104

TOTAL ASSETS LESS CURRENT LIABILITIES

151,165

156,487

PROVISIONS FOR LIABILITIES

(208

)

(277

)

NET ASSETS

150,957

156,210

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

150,857

156,110

SHAREHOLDERS' FUNDS

150,957

156,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 26 July 2018 and were signed on its behalf by:

J B Laing - Director

1.	STATUTORY INFORMATION

John Laing Software Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting

Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies

Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional

disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are the first financial statements the company has prepared in accordance with

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS 102. The financial

statements for the year ended 31 October 2016 were prepared in accordance with previous UK GAAP.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting

policy choices differ from previous UK GAAP, however the directors consider these accounting policies

comply with FRS 102. There have been no transitional adjustments.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of

the service provided to date based on a proportion of the total expected consideration at completion. Where

payments are received from customers in advance of services provided, the amounts are recorded as deferred

income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds

and the carrying value of the asset and is recognised in the income statement.

Financial instruments

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using

the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction

is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price

and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where

the debt instrument is measured at the present value of the future receipts discounted at a market rate of

interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2016

3,113

Additions

719

Disposals

(1,037

)

At 31 October 2017

2,795

DEPRECIATION

At 1 November 2016

1,730

Charge for year

547

Eliminated on disposal

(576

)

At 31 October 2017

1,701

NET BOOK VALUE

At 31 October 2017

1,094

At 31 October 2016

1,383

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

19,800

16,800

Other debtors

-

45,472

19,800

62,272

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

13,998

9,415

Other creditors

10,553

840

24,551

10,255

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2017 and

31 October 2016:

2017

2016

£

£

J B Laing

Balance outstanding at start of year

45,472

11,394

Amounts advanced

-

148,881

Amounts repaid

(45,472

)

(114,803

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

45,472

Interest has been charged on the above balance at the HMRC approved rate. The balance is repayable on

demand.