Registration number:
Interface Up Limited
for the Period from 17 December 2016 to 31 December 2017
Retford Enterprise Centre
Randall Way
Retford
Nottinghamshire
DN22 7GR
Interface Up Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Interface Up Limited
Company Information
Director |
Mr Sean Francis Beggs |
Registered office |
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Accountants |
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Page 1 |
Interface Up Limited
Director's Report for the Period from 17 December 2016 to 31 December 2017
The director presents his report and the financial statements for the period from 17 December 2016 to 31 December 2017.
Incorporation
The company was incorporated on
Director of the company
The director who held office during the period was as follows:
Principal activity
The principal activity of the company is Infrastructure Consultancy
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Mr Sean Francis Beggs
Director
Page 2 |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Interface Up Limited
for the Period Ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Interface Up Limited for the period ended 31 December 2017 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Accounting technicians (AAT), we are subject to its ethical and other professional requirements which are detailed at
https://www.aat.org.uk/about-aat/professional-standards.
This report is made solely to the Board of Directors of Interface Up Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Interface Up Limited and state those matters that we have agreed to state to the Board of Directors of Interface Up Limited, as a body, in this report in accordance with Association of Accounting technicians (AAT). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Interface Up Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Interface Up Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Interface Up Limited. You consider that Interface Up Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Interface Up Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Randall Way
Retford
Nottinghamshire
DN22 7GR
Page 3 |
Interface Up Limited
Profit and Loss Account for the Period from 17 December 2016 to 31 December 2017
Note |
Total |
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Turnover |
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Cost of sales |
( |
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Gross profit |
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Administrative expenses |
( |
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Operating profit |
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Profit before tax |
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Profit for the financial period |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Page 4 |
Interface Up Limited
Statement of Comprehensive Income for the Period from 17 December 2016 to 31 December 2017
Note |
2017 |
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Profit for the period |
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Total comprehensive income for the period |
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Page 5 |
Interface Up Limited
(Registration number: 10530892)
Balance Sheet as at 31 December 2017
Note |
2017 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Page 6 |
Interface Up Limited
(Registration number: 10530892)
Balance Sheet as at 31 December 2017
Approved and authorised by the
.........................................
Mr Sean Francis Beggs
Director
Page 7 |
Interface Up Limited
Statement of Changes in Equity for the Period from 17 December 2016 to 31 December 2017
Share capital |
Profit and loss account |
Total |
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Profit for the period |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 December 2017 |
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Page 8 |
Interface Up Limited
Notes to the Financial Statements for the Period from 17 December 2016 to 31 December 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
25% Straight Line |
Page 9 |
Interface Up Limited
Notes to the Financial Statements for the Period from 17 December 2016 to 31 December 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
Average number of employees
Profit before tax |
Arrived at after charging/(crediting)
2017 |
|
Amortisation expense |
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Page 10 |
Interface Up Limited
Notes to the Financial Statements for the Period from 17 December 2016 to 31 December 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 December 2017 |
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Amortisation |
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Amortisation charge |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil.
Creditors |
Note |
2017 |
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Due within one year |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2017 |
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Non-current loans and borrowings |
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Other borrowings |
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Dividends |
Final dividends paid
2017 |
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Final dividend of £
|
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Page 11 |
Interface Up Limited
Detailed Profit and Loss Account for the Period from 17 December 2016 to 31 December 2017
17 December 2016 to 31 December 2017 |
|
Turnover (analysed below) |
54,316 |
Cost of sales (analysed below) |
(577) |
Gross profit |
53,739 |
Gross profit (%) |
98.94% |
Administrative expenses |
|
Employment costs (analysed below) |
(31,384) |
Establishment costs (analysed below) |
(784) |
General administrative expenses (analysed below) |
(5,859) |
Finance charges (analysed below) |
(1) |
Depreciation costs (analysed below) |
(4,375) |
(42,403) |
|
Operating profit |
11,336 |
Profit before tax |
11,336 |
Page 12 |
Interface Up Limited
Detailed Profit and Loss Account for the Period from 17 December 2016 to 31 December 2017
2017 |
Turnover |
|
Sale of goods, UK |
54,310 |
Other revenue |
6 |
54,316 |
Cost of sales |
|
Purchases |
577 |
Employment costs |
|
Directors fees |
(30,117) |
Staff training |
(1,267) |
(31,384) |
Establishment costs |
|
Insurance |
(314) |
Use of home as office |
(470) |
(784) |
General administrative expenses |
|
Telephone and fax |
(753) |
Office expenses |
(905) |
Trade subscriptions |
(68) |
Travel and subsistence |
(3,713) |
Accountancy fees |
(420) |
(5,859) |
Finance charges |
|
Bank charges |
(1) |
Depreciation costs |
|
Amortisation of goodwill |
(4,375) |
Page 13 |