Company Registration No. 8107696 (England and Wales)
Relational Analytics Ltd
Unaudited Financial Statements
for the year ended 31 August 2019
Relational Analytics Ltd
Unaudited Financial Statements
Contents
Relational Analytics Ltd
Company Information
for the year ended 31 August 2019
Directors
C Parry
N Prem
R Loe
Company Number
8107696 (England and Wales)
Registered Office
Future Business Centre
Kings Hedges Road
Cambridge
CB4 2HY
United Kingdom
Accountants
Adams O'Rourke Accountants Ltd
436 Woolton Road
Liverpool
L25 6JQ
Relational Analytics Ltd
Statement of financial position
as at
31 August 2019
Intangible assets
104,995
112,495
Cash at bank and in hand
28,033
17,089
Creditors: amounts falling due within one year
(404,945)
(129,758)
Net current liabilities
(376,912)
(109,069)
Total assets less current liabilities
(271,917)
3,426
Creditors: amounts falling due after more than one year
-
(289,235)
Net liabilities
(271,917)
(285,809)
Called up share capital
9,476
9,476
Profit and loss account
(281,393)
(295,285)
Shareholders' funds
(271,917)
(285,809)
For the year ending 31 August 2019 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 28 April 2020.
N Prem
Director
Company Registration No. 8107696
Relational Analytics Ltd
Notes to the Accounts
for the year ended 31 August 2019
Relational Analytics Ltd is a private company, limited by shares, registered in England and Wales, registration number 8107696. The registered office is Future Business Centre, Kings Hedges Road, Cambridge, CB4 2HY, 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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line over 4 years
Computer equipment
Straight line over 3 years
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 these financial statements.
Relational Analytics Ltd
Notes to the Accounts
for the year ended 31 August 2019
4
Intangible fixed assets
Other
At 1 September 2018
149,995
At 31 August 2019
149,995
At 1 September 2018
37,500
Charge for the year
7,500
At 31 August 2019
104,995
At 31 August 2018
112,495
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
5
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
At 1 September 2018
2,886
At 1 September 2018
2,886
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
184
1,282
Taxes and social security
(474)
889
Other creditors
405,235
127,587
Relational Analytics Ltd
Notes to the Accounts
for the year ended 31 August 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
-
289,235
Redeemable preference shares classed as liabilities
9
Transactions with related parties
Director: M Schluter, is owed £66,000 at the year end, this amount is included in creditors. This loan is interest free and repayable on demand.
Director: C Parry, is owed £25,000 at the year end, this amount is included in creditors. This loan is interest free and repayable on demand.
The company is a subsidiary of Relational Research Limited, registered office at Future Business Centre, Kings Hedges Road, Cambridge, England, CB4 2HY, which is the ultimate parent company incorporated in the United Kingdom.
11
Post balance sheet events
The re-designation of 289,235 redeemable preference shares of £1 each as ordinary shares , with the adoption of new articles of association was effected on 11th October 2019.
£116k of loans from existing shareholders were exchanged for ordinary shares as part of an issue of ordinary share capital on 18th November 2019. This took place in combination with a special resolution passed by members on the same date to reduce the company share capital and extinguish 398,575 ordinary shares.
This investment by members demonstrates their commitment to the company and effected a material capital reserve to fund the next steps of the business plan.
12
Average number of employees
During the year the average number of employees was 0 (2018: 2).