Company Registration No. 07026983 (England and Wales)
AN UDDER IP COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
AN UDDER IP COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr A M Solazzo
Mr J R J Duke
Mr R A F Buchanan
Mr C E S Green
Company number
07026983
Registered office
Witan Gate House
500-600 Witan Gate West
Milton Keynes
Buckinghamshire
MK9 1SH
Auditor
MHA Carpenter Box
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
Business address
1 Camelia Court
Shellbridge Road
Slindon
West Sussex
BN18 0LT
AN UDDER IP COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
AN UDDER IP COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Trade and other receivables
3
1,054,673
1,002,424
Cash and cash equivalents
6,050
16,921
1,060,723
1,019,345
Current liabilities
4
(468,213)
(415,561)
Net current assets
592,510
603,784
Equity
Called up share capital
5
1
1
Retained earnings
592,509
603,783
Total equity
592,510
603,784
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 20 September 2018 and are signed on its behalf by:
Mr A M Solazzo
Director
Company Registration No. 07026983
AN UDDER IP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 2 -
1
Accounting policies
Company information
An Udder IP Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Witan Gate House, 500-600 Witan Gate West, Milton Keynes, Buckinghamshire, MK9 1SH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Revenue
Revenue represents amounts receivable in return for the right to exploit the company's intellectual property and is recognised in the period to which it relates, and is shown net of VAT and other sales related taxes.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
1.5
Financial instruments
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.
Basic financial assets
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.
Basic financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at 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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
AN UDDER IP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Intangible fixed assets
Intellectual Property
£
Cost
At 1 April 2017 and 31 March 2018
223,005
Amortisation and impairment
At 1 April 2017 and 31 March 2018
223,005
Carrying amount
At 31 March 2018
-
At 31 March 2017
-
3
Trade and other receivables
2018
2017
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,054,672
1,002,231
Other receivables
1
193
1,054,673
1,002,424
4
Current liabilities
2018
2017
£
£
Trade payables
9,299
7,746
Amounts due to group undertakings
410,105
372,915
Other taxation and social security
43,159
28,000
Other payables
5,650
6,900
468,213
415,561
AN UDDER IP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 ordinary share of £1 each
1
1
1
1
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Eileen Houghton FCA.
The auditor was MHA Carpenter Box.
2018-03-312017-04-01falseCCH SoftwareCCH Accounts Production 2018.220No description of principal activity05 October 2018This audit opinion is unqualifiedMr A M SolazzoMr J R J DukeMr R A F BuchananMr C E S Green070269832017-04-012018-03-3107026983bus:Director12017-04-012018-03-3107026983bus:Director22017-04-012018-03-3107026983bus:Director32017-04-012018-03-3107026983bus:Director42017-04-012018-03-3107026983bus:RegisteredOffice2017-04-012018-03-31070269832018-03-3107026983core:CurrentFinancialInstruments2018-03-3107026983core:CurrentFinancialInstruments2017-03-31070269832017-03-3107026983core:ShareCapital2018-03-3107026983core:ShareCapital2017-03-3107026983core:RetainedEarningsAccumulatedLosses2018-03-3107026983core:RetainedEarningsAccumulatedLosses2017-03-3107026983core:ShareCapitalOrdinaryShares2018-03-3107026983core:ShareCapitalOrdinaryShares2017-03-3107026983core:IntangibleAssetsOtherThanGoodwill2017-03-3107026983bus:OrdinaryShareClass12017-04-012018-03-3107026983bus:OrdinaryShareClass12018-03-3107026983bus:PrivateLimitedCompanyLtd2017-04-012018-03-3107026983bus:FRS1022017-04-012018-03-3107026983bus:Audited2017-04-012018-03-3107026983bus:SmallCompaniesRegimeForAccounts2017-04-012018-03-3107026983bus:FullAccounts2017-04-012018-03-31xbrli:purexbrli:sharesiso4217:GBP