Fresche Solutions Limited - Limited company accounts 18.2

Fresche Solutions Limited - Limited company accounts 18.2


IRIS Accounts Productionv18.3.1.6501795263director1.4.1731.3.1831.3.18the development, marketing and support of computer software.falsetruetruefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure017952632017-03-31017952632018-03-31017952632017-04-012018-03-31017952632016-03-31017952632016-04-012017-03-31017952632017-03-3101795263ns15:EnglandWales2017-04-012018-03-3101795263ns14:PoundSterling2017-04-012018-03-3101795263ns10:Director12017-04-012018-03-3101795263ns10:PrivateLimitedCompanyLtd2017-04-012018-03-3101795263ns10:SmallEntities2017-04-012018-03-3101795263ns10:Audited2017-04-012018-03-3101795263ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012018-03-3101795263ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-3101795263ns10:FullAccounts2017-04-012018-03-3101795263ns10:CompanySecretary12017-04-012018-03-3101795263ns10:RegisteredOffice2017-04-012018-03-3101795263ns5:CurrentFinancialInstruments2018-03-3101795263ns5:CurrentFinancialInstruments2017-03-3101795263ns5:Non-currentFinancialInstruments2018-03-3101795263ns5:Non-currentFinancialInstruments2017-03-3101795263ns5:ShareCapital2018-03-3101795263ns5:ShareCapital2017-03-3101795263ns5:RetainedEarningsAccumulatedLosses2018-03-3101795263ns5:RetainedEarningsAccumulatedLosses2017-03-3101795263ns5:PlantMachinery2017-04-012018-03-3101795263ns5:OwnedAssets2017-04-012018-03-3101795263ns5:OwnedAssets2016-04-012017-03-3101795263ns5:PlantMachinery2017-03-3101795263ns5:PlantMachinery2018-03-3101795263ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-3101795263ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-31


REGISTERED NUMBER: 01795263(England and Wales)















REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

FRESCHE SOLUTIONS LIMITED

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Report of the Director 2

Report of the Independent Auditors 3

Income Statement 6

Balance Sheet 7

Notes to the Financial Statements 8


FRESCHE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTOR: A Kulakowski



SECRETARY: A Kulakowski



REGISTERED OFFICE: 2nd Floor, 2 Woodberry Grove
North Finchley
London
N12 0DR



REGISTERED NUMBER: 01795263(England and Wales)



SENIOR STATUTORY AUDITOR: John David Lee BA FCA



AUDITORS: Lee Accounting Services Limited
Trading as Lee & Co - Chartered
Accountants and Statutory Auditors
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2018


The director presents his report with the financial statements of the company for the year ended 31 March 2018.

DIRECTOR
A Kulakowskiheld office during the whole of the period from 1 April 2017 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law
and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is
satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that
period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;

The director is 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 him to ensure that
the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of
which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make
himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Kulakowski- Director


21 January 2019

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FRESCHE SOLUTIONS LIMITED


Opinion
We have audited the financial statements of Fresche Solutions Limited (the 'company') for the year ended 31 March 2018 which
comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the
UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2018 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements
section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit
of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities
in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt
about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months
from the date when the financial statements are authorised for issue.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director,
but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in
our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other
information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information,
we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is
consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FRESCHE SOLUTIONS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not
identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our
opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not
visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take
advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of
the Director.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the
director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due
to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either
intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial
statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's
website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FRESCHE SOLUTIONS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act
2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to
them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the
opinions we have formed.




John David Lee BA FCA(Senior Statutory Auditor)
for and on behalf of Lee Accounting Services Limited
Trading as Lee & Co - Chartered
Accountants and Statutory Auditors
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

23 January 2019

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2018

2018 2017
Notes £    £   

TURNOVER 3,107,871 1,500,827

Cost of sales 1,167,302 348,759
GROSS PROFIT 1,940,569 1,152,068

Administrative expenses 1,675,631 925,081
OPERATING PROFIT 4 264,938 226,987

Interest receivable and similar income 259 7
265,197 226,994

Interest payable and similar expenses - 56
PROFIT BEFORE TAXATION 265,197 226,938

Tax on profit 50,156 66,570
PROFIT FOR THE FINANCIAL YEAR 215,041 160,368

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 822 -
Investments 6 28,825 28,825
29,647 28,825

CURRENT ASSETS
Debtors 7 3,535,802 3,230,396
Cash at bank 238,922 185,137
3,774,724 3,415,533
CREDITORS
Amounts falling due within one year 8 757,587 611,867
NET CURRENT ASSETS 3,017,137 2,803,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,046,784

2,832,491

CREDITORS
Amounts falling due after more than one year 9 2,474 3,222
NET ASSETS 3,044,310 2,829,269

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 3,019,310 2,804,269
3,044,310 2,829,269

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

The financial statements were approved by the director on 21 January 2019and were signed by:





A Kulakowski- Director


FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

Fresche Solutions 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair
value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any
impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured
initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using effective interest
method.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


2. ACCOUNTING POLICIES - continued

Foreign currencies
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 rate of exchange ruling at the date of transaction.
Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3(2017 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2018 2017
£    £   
Depreciation - owned assets 330 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017 1,461
Additions 1,152
At 31 March 2018 2,613
DEPRECIATION
At 1 April 2017 1,461
Charge for year 330
At 31 March 2018 1,791
NET BOOK VALUE
At 31 March 2018 822

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2017
and 31 March 2018 28,825
NET BOOK VALUE
At 31 March 2018 28,825
At 31 March 2017 28,825

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 207,170 118,223
Amounts owed by group undertakings 3,328,632 3,105,258
Other debtors - 6,915
3,535,802 3,230,396

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 7,900 11,182
Amounts owed to group undertakings 211,294 53,089
Taxation and social security 115,288 60,905
Other creditors 423,105 486,691
757,587 611,867

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Other creditors 2,474 3,222

FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


10. RELATED PARTIES

At 31 March 2018, the amounts due from and to other group companies were as follows:

2018 2017
£ £
Amounts due from other group companies
Fresche Inc 2,426,578 3,039,202
Fresche USA 896,645 66,056
Databorough India 64 -
BCD Software LLC 5,345 -

Total 3,328,632 3,105,258
Amounts due to other group companies
Look PTY 211,294 53,089
No interest is charged on group company balances.