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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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FILISIA INTERFACES LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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FOR |
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FILISIA INTERFACES LTD |
FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FILISIA INTERFACES LTD |
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COMPANY INFORMATION |
for the year ended 30 June 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Magma House |
16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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BALANCE SHEET |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Filisia Interfaces Ltd is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
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Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with |
the stage of completion of the contract when all of the following conditions are satisfied: |
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- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. |
Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for |
it to be capable of operating in the manner intended by management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using |
either a straight line or reducing balance method, as indicated below. |
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Depreciation is provided on the following basis: |
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Fixtures & Fittings | 25% | On reducing balance |
Computer Equipment | 33% | Straight line method |
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The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if |
there is an indication of a significant change since the last reporting date. |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in |
profit or loss. |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and |
investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right |
to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
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Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement |
constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at |
a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any |
impairment. |
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FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other |
short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily |
convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially |
recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is |
measured at the present value of the future payments discounted at a market rate of interest. Such instruments are |
subsequently carried at amortised cost using the effective interest method, less any impairment. |
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Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other |
comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly |
in equity respectively. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance |
Sheet date, except that: |
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- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal |
of deferred tax liabilities or other future taxable profits; and |
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- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date.profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Revenue based grants |
Revenue based grants are recognised as income based on the specific terms related to them as follows : |
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A grant is recognised in other operating income when the grant proceeds are received (or receivable) provided that the terms of |
the grant do not impose future performance-related conditions. |
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If the terms of the grant impose performance-related conditions then the grant is only recognised in income when the |
performance-related conditions are met |
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Any grants that are received before the revenue recognition criteria are met are recognised in the balance sheet as a liability. |
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Research and development expenditure |
Research and development expenditure is charged to the profit and loss in the period in which it is incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2017 and 30 June 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year | ( |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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FILISIA INTERFACES LTD (REGISTERED NUMBER: 09065346) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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8. | FIRST YEAR ADOPTION |
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The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention and in |
accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st July 2015. There are |
no transitional adjustments arising from the first time adoption of FRS 102. |