REGISTERED NUMBER: |
NUMECENT HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
REGISTERED NUMBER: |
NUMECENT HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
NUMECENT HOLDINGS LIMITED (REGISTERED NUMBER: 06646895) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NUMECENT HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
27a Lidget Hill |
Pudsey |
Leeds |
West Yorkshire |
LS28 7LG |
NUMECENT HOLDINGS LIMITED (REGISTERED NUMBER: 06646895) |
BALANCE SHEET |
31 DECEMBER 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
(b) | 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on its behalf by: |
NUMECENT HOLDINGS LIMITED (REGISTERED NUMBER: 06646895) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
1. | STATUTORY INFORMATION |
Numecent Holdings Limited is a |
The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has a history of recurring losses from operations and, as at 31 December 2017 has |
negative profit and loss reserves of £15,498,799. |
A successful transition to attaining profitable operations is dependent upon the company obtaining |
sufficient additional financing to fulfil its planned expenses and achieving a level of revenue adequate |
to support the company's cost structure. There is no assurance that the company will be able to obtain |
sufficient additional capital when needed, or that such capital, if available, will be obtainable on terms |
satisfactory to the company. However, after considering the funds expected to be received from |
projected operations and financings, the directors consider it appropriate to prepare the financial |
statements on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about Numecent Holdings Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
Intangible fixed assets |
Amortisation is provided at the following annual rates in order to write off each asset over its estimated |
useful life. |
Intellectual property | - 5% on cost |
Goodwill | - 5% on cost |
Tangible fixed assets |
Computer equipment | - |
NUMECENT HOLDINGS LIMITED (REGISTERED NUMBER: 06646895) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the |
contractual provisions of the instrument. |
Financial assets and liabilities are initially measured at transaction price, except for those financial |
assets classified as at fair value through profit and loss. |
Basic financial instruments |
Basic financial instruments are those with relatively straight forward terms and would normally include |
cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal |
commercial terms, the debtor will be valued at transaction price (i.e. cost) and subsequently at |
transaction price less impairment (if any) due to concerns over recoverability. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
Accounting for share based compensation |
The Company has a share based compensation plan for its employees and outside directors and |
accounts for share based compensation arrangements using a fair value method. The Company |
determines the fair value of option grants using the Black-Scholes Model and expense is recorded |
over the vesting period. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
AMORTISATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
NUMECENT HOLDINGS LIMITED (REGISTERED NUMBER: 06646895) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
and 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |