Caseware UK (AP4) 2016.0.181 2016.0.181 2017-06-302017-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-07-01 08837291 2016-07-01 2017-06-30 08837291 2015-07-01 2016-06-30 08837291 2017-06-30 08837291 2016-06-30 08837291 c:Director1 2016-07-01 2017-06-30 08837291 d:OfficeEquipment 2016-07-01 2017-06-30 08837291 d:OfficeEquipment 2017-06-30 08837291 d:OfficeEquipment 2016-06-30 08837291 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-07-01 2017-06-30 08837291 d:CurrentFinancialInstruments 2017-06-30 08837291 d:CurrentFinancialInstruments 2016-06-30 08837291 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 08837291 d:CurrentFinancialInstruments d:WithinOneYear 2016-06-30 08837291 d:RetainedEarningsAccumulatedLosses 2017-06-30 08837291 d:RetainedEarningsAccumulatedLosses 2016-06-30 08837291 c:FRS102 2016-07-01 2017-06-30 08837291 c:AuditExempt-NoAccountantsReport 2016-07-01 2017-06-30 08837291 c:FullAccounts 2016-07-01 2017-06-30 08837291 c:PrivateLimitedCompanyLtd 2016-07-01 2017-06-30 iso4217:GBP xbrli:pure
                                                                                                                     Registered number: 08837291















COMMON VISION UK
(A Company Limited by Guarantee)




UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

 
COMMON VISION UK
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:08837291

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2017

2017
2016
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,609
2,952

  
2,609
2,952

Current assets
  

Debtors: amounts falling due within one year
 5 
36,404
17,441

Cash at bank and in hand
  
7,480
20,405

  
43,884
37,846

Creditors: amounts falling due within one year
 6 
(48,470)
(45,376)

Net current liabilities
  
 
 
(4,586)
 
 
(7,530)

Total assets less current liabilities
  
(1,977)
(4,578)

  

Net liabilities
  
(1,977)
(4,578)


Capital and reserves
  

Profit and loss account
  
(1,977)
(4,578)

  
(1,977)
(4,578)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2018.



................................................
C Macfarland
Page 1

 
COMMON VISION UK
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:08837291

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2017

Director
The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
COMMON VISION UK
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

1.


General information

Common Vision UK Limited is a private company limited by guarantee and incorporated in England within the United Kingdom.  The address of the registered office is given in the company information of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company continues to be supported by its directors and has positive cash balances. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors and therefore the going concern basis of accounts preparation has been deemed appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

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:
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.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Page 3

 
COMMON VISION UK
 
(A Company Limited by Guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25 % Straight line

The assets' 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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

 
2.5

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.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument 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.

 
2.8

Creditors

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

 
2.9

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Page 4

 
COMMON VISION UK
 
(A Company Limited by Guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

2.Accounting policies (continued)

 
2.10

Taxation

Tax is recognised in the Income Statement, except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2016 - 6).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2016
5,491


Additions
824



At 30 June 2017

6,315



Depreciation


At 1 July 2016
2,539


Charge for the year on owned assets
1,167



At 30 June 2017

3,706



Net book value



At 30 June 2017
2,609



At 30 June 2016
2,952

Page 5

 
COMMON VISION UK
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

5.


Debtors

2017
2016
£
£


Trade debtors
20,396
17,047

Prepayments and accrued income
16,008
394

36,404
17,441



6.


Creditors: Amounts falling due within one year

2017
2016
£
£

Trade creditors
7,344
7,813

Corporation tax
-
5,153

Other taxation and social security
33,126
26,410

Accruals and deferred income
8,000
6,000

48,470
45,376




7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


8.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.


Page 6