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REGISTERED NUMBER: 06646895 (England and Wales)
















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: O Kent
Dr R L Hargreaves
A S Hitomi
M D Khandjian
S J Maynard
K L Ng





SECRETARY: Endeavour Ventures Limited





REGISTERED OFFICE: Suite 4 One Sceptre House
Hornbeam Square North
Harrogate
North Yorkshire
HG2 8PB





REGISTERED NUMBER: 06646895 (England and Wales)





ACCOUNTANTS: BPR Heaton
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 11,750 12,750
Tangible assets 5 - -
Investments 6 974,176 974,176
985,926 986,926

CURRENT ASSETS
Debtors 7 17,781,141 16,522,577
Cash at bank 408,308 1,188,250
18,189,449 17,710,827
CREDITORS
Amounts falling due within one year 8 5,797,499 2,538,343
NET CURRENT ASSETS 12,391,950 15,172,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,377,876

16,159,410

CAPITAL AND RESERVES
Called up share capital 3,913,342 3,913,342
Share premium 24,963,333 24,813,171
Retained earnings (15,498,799 ) (12,567,103 )
SHAREHOLDERS' FUNDS 13,377,876 16,159,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 26 September 2018 and were signed on
its behalf by:



M D Khandjian - Director


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 private company, limited by shares , registered in England and Wales.
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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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.

Intellectual property are being amortised evenly over their estimated useful life of nil years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 5 (2016 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2017
and 31 December 2017 20,000 2,000 22,000
AMORTISATION
At 1 January 2017 7,250 2,000 9,250
Charge for year 1,000 - 1,000
At 31 December 2017 8,250 2,000 10,250
NET BOOK VALUE
At 31 December 2017 11,750 - 11,750
At 31 December 2016 12,750 - 12,750

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 1,539
DEPRECIATION
At 1 January 2017
and 31 December 2017 1,539
NET BOOK VALUE
At 31 December 2017 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2017
and 31 December 2017 974,176
NET BOOK VALUE
At 31 December 2017 974,176
At 31 December 2016 974,176

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Amounts owed by group undertakings 17,594,984 16,388,658
Other debtors 186,157 133,919
17,781,141 16,522,577

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 17,485 109,830
Taxation and social security 28 2,313
Other creditors 5,779,986 2,426,200
5,797,499 2,538,343