Active Solutions Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02178083

ACTIVE SOLUTIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2018

ACTIVE SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2018

	2018		2017
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		181,150		189,423

CURRENT ASSETS

Stocks		–	283
Debtors	6	39,737	93,739
Investments	7	500,000	500,000
Cash at bank and in hand		1,009,361	858,893
		------------	------------
		1,549,098	1,452,915

CREDITORS: amounts falling due within one year	8	125,800		220,393
		------------		------------
NET CURRENT ASSETS			1,423,298		1,232,522
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,604,448		1,421,945

PROVISIONS

Taxation including deferred tax	5,580	6,580
	------------	------------
NET ASSETS	1,598,868	1,415,365
	------------	------------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	1,598,866	1,415,363
	------------	------------
SHAREHOLDERS FUNDS	1,598,868	1,415,365
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

ACTIVE SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 14 August 2018 , and are signed on behalf of the board by:

N.J. Hepworth

Director

Company registration number: 02178083

ACTIVE SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Sentinel Court, Wilkinson Way, Shadsworth Business Park, Blackburn, BB1 2EH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Research and development

Development expenditure is written off in the year incurred.

(c) Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

(d) Revenue recognition

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

(e) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(f) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	2% straight line
Fixtures & Fittings	-	25% straight line
Office Equipment	-	25% straight line

(h) Current asset investments

Current asset investments are stated at the lower of cost and net realisable value.

(i) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(j) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(k) Financial instruments

Basic financial instruments are recognised at amortised cost.

(l) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 4 (2017: 4 ).

5. TANGIBLE ASSETS

	Land & Buildings	Fixtures & Fittings	Equipment	Total
	£	£	£	£
Cost
At 1 April 2017 and 31 March 2018	254,876	25,179	114,000	394,055
	---------	--------	---------	---------
Depreciation
At 1 April 2017	68,676	25,179	110,777	204,632
Charge for the year	5,089	–	3,184	8,273
	---------	--------	---------	---------
At 31 March 2018	73,765	25,179	113,961	212,905
	---------	--------	---------	---------
Carrying amount
At 31 March 2018	181,111	–	39	181,150
	---------	--------	---------	---------
At 31 March 2017	186,200	–	3,223	189,423
	---------	--------	---------	---------

6. DEBTORS

	2018	2017
	£	£
Trade debtors	39,737	93,739
	--------	--------

7. INVESTMENTS

	2018	2017
	£	£
Other investments	500,000	500,000
	---------	---------

8. CREDITORS: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	17,121	20,753
Accruals and deferred income	25,498	70,945
Corporation tax	60,337	63,302
Social security and other taxes	22,140	19,885
Director loan accounts	704	45,508
	---------	---------
	125,800	220,393
	---------	---------

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company repaid directors' loans amounting to £44,804. At 31 March 2018 the company owed the directors £704 in respect of loans received.

10. RELATED PARTY TRANSACTIONS

The company was under the control of the directors, Mr. N.J. Hepworth and Mrs. E.M. Hepworth, throughout the current and previous year. During the year the company paid dividends to the directors amounting to £67,000.