Trendsignal Limited 31/12/2017 iXBRL

TRENDSIGNAL LIMITED - Company Information

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Company registration number: 05003777

Trendsignal Limited

Filleted financial statements

31 December 2017

Trendsignal Limited

Contents

Directors and other information

Directors responsibilities statement

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Trendsignal Limited

Directors and other information


	Directors	JJL Miller
		AM Buthee
		MS Miller


	Secretary	JJL Miller


	Company number	05003777


	Registered office	Cranfield Innovation Centre
		University Way
		Cranfield
		Milton Keynes
		MK43 0BT


	Auditor	Clifford Towers
		9 High Street
		Stony Stratford
		Milton Keynes
		MK11 1AA

Trendsignal Limited

Directors responsibilities statement

Year ended 31 December 2017

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Trendsignal Limited

Statement of financial position

31 December 2017

		2017		2016
	Note	£	£	£	£

Fixed assets
Intangible assets	5	17,461		-
Tangible assets	6	22,855		29,192
Investments	7	80		80
		_______		_______
			40,396		29,272

Current assets
Debtors	8	294,415		88,157
Cash at bank and in hand		441,610		273,104
		_______		_______
		736,025		361,261
Creditors: amounts falling due
within one year	9	( 478,742)		( 238,764)
		_______		_______
Net current assets			257,283		122,497
			_______		_______
Total assets less current liabilities			297,679		151,769


Provisions for liabilities			( 684)		( 1,201)

			_______		_______
Net assets			296,995		150,568
			_______		_______

Capital and reserves
Called up share capital	10		1,000		200
Profit and loss account	11		295,995		150,368
			_______		_______
Shareholders funds			296,995		150,568
			_______		_______

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 28 September 2018 , and are signed on behalf of the board by:

JJL Miller

Director

Company registration number: 05003777

Trendsignal Limited

Statement of changes in equity

Year ended 31 December 2017

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2016	200	68,006	68,206

Profit for the year		224,862	224,862
	_______	_______	_______
Total comprehensive income for the year	-	224,862	224,862

Dividends paid and payable		( 142,500)	( 142,500)
	_______	_______	_______
Total investments by and distributions to owners	-	( 142,500)	( 142,500)

	_______	_______	_______
At 31 December 2016 and 1 January 2017	200	150,368	150,568

Profit for the year		368,527	368,527
	_______	_______	_______
Total comprehensive income for the year	-	368,527	368,527

Issue of bonus shares	800	( 800)	-
Dividends paid and payable		( 222,100)	( 222,100)
	_______	_______	_______
Total investments by and distributions to owners	800	( 222,900)	( 222,100)

	_______	_______	_______
At 31 December 2017	1,000	295,995	296,995
	_______	_______	_______

Trendsignal Limited

Notes to the financial statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Cranfield Innovation Centre, University Way, Cranfield, Milton Keynes, MK43 0BT.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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:


Development costs	-	25 %	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 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
Motor vehicles	-	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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2016: 12 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 January 2017	15,028	15,028
Additions	23,281	23,281
	_______	_______
At 31 December 2017	38,309	38,309
	_______	_______
Amortisation
At 1 January 2017	15,028	15,028
Charge for the year	5,820	5,820
	_______	_______
At 31 December 2017	20,848	20,848
	_______	_______
Carrying amount
At 31 December 2017	17,461	17,461
	_______	_______
At 31 December 2016	-	-
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2017	38,768	24,495	63,263
Additions	9,666	-	9,666
Disposals	( 2,232)	-	( 2,232)
	_______	_______	_______
At 31 December 2017	46,202	24,495	70,697
	_______	_______	_______
Depreciation
At 1 January 2017	21,823	12,248	34,071
Charge for the year	8,893	6,124	15,017
Disposals	( 1,246)	-	( 1,246)
	_______	_______	_______
At 31 December 2017	29,470	18,372	47,842
	_______	_______	_______
Carrying amount
At 31 December 2017	16,732	6,123	22,855
	_______	_______	_______
At 31 December 2016	16,945	12,247	29,192
	_______	_______	_______

7. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 January 2017 and 31 December 2017	80	80
	_______	_______
Impairment
At 1 January 2017 and 31 December 2017	-	-
	_______	_______
Carrying amount
At 31 December 2017	80	80
	_______	_______
At 31 December 2016	80	80
	_______	_______

Trendsignal Limited holds 100% interest in Trendsignal LLC, a Florida limited liability company.

8. Debtors

	2017	2016
	£	£
Trade debtors	155,546	29,394
Amounts owed by group undertakings and undertakings in which the company has a participating interest	53,772	9,776
Other debtors	85,097	48,987
	_______	_______
	294,415	88,157
	_______	_______

Amounts owed by group undertakings of £53,772, due from Trendsignal LLC, are interest free and repayable on demand.

9. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	47,570	20,401
Corporation tax	87,202	59,224
Social security and other taxes	192,070	114,799
Other creditors	151,900	44,340
	_______	_______
	478,742	238,764
	_______	_______

10. Called up share capital

Issued, called up and fully paid

	2017		2016
	No	£	No	£
Ordinary shares shares of £ 0.01 each (2016: £ 1.00 )	100,000	1,000	200	200
	_______	_______	_______	_______

On 31/01/2017 the ordinary shares of £1 were sub-divided into 20,000 ordinary shares of £0.01 each. The issued share capital was then increased to £1,000 by capitalising £800 from revenue reserves.

11. Reserves

Profit and loss account:This reserve records retained earnings and accumulated losses.

12. Other financial commitments

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £9,792 (2016: £40,792).

13. Summary audit opinion

The auditor's report for the year dated 28 September 2018 was unqualified.

The senior statutory auditor was Simon Towers BSc FCA for and on behalf of Clifford Towers

14. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2017
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	JJL Miller	30,159	( 30,069)	90
	MS Miller	1,500	-	1,500
		_______	_______	_______
		31,659	( 30,069)	1,590
		_______	_______	_______

2016
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	JJL Miller	( 10,841)	41,000	30,159
	MS Miller	-	1,500	1,500
		_______	_______	_______
		( 10,841)	42,500	31,659
		_______	_______	_______

Amounts advanced or credited are interest free and repayable on demand.

15. Controlling party

Throughout the year the company was controlled by JJL Miller , who is a director and owns 63% of the issued share capital of the company.