REGISTERED NUMBER: 05670986 (England and Wales)

ACCELERO DIGITAL SOLUTIONS LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K T Jones

R A J Gaze

REGISTERED OFFICE:

Unit 2 Bridgend Business Centre

Bennett Street

Bridgend Industrial Estate

Bridgend

Mid Glamorgan

CF31 3SH

REGISTERED NUMBER:

05670986 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Intangible assets

4

205,694

-

Tangible assets

5

25,913

2,655

231,607

2,655

CURRENT ASSETS

Debtors

6

380,219

306,713

Cash at bank and in hand

52,570

44,487

432,789

351,200

CREDITORS

Amounts falling due within one year

7

(641,751

)

(496,239

)

NET CURRENT LIABILITIES

(208,962

)

(145,039

)

TOTAL ASSETS LESS CURRENT LIABILITIES

22,645

(142,384

)

CREDITORS

Amounts falling due after more than one year

8

-

(2,105

)

PROVISIONS FOR LIABILITIES

(38,168

)

-

NET LIABILITIES

(15,523

)

(144,489

)

CAPITAL AND RESERVES

Called up share capital

1,600

1,600

Retained earnings

(17,123

)

(146,089

)

SHAREHOLDERS' FUNDS

(15,523

)

(144,489

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 24 November 2017 and were signed on its behalf by:

K T Jones - Director

1.	STATUTORY INFORMATION

Accelero Digital Solutions 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 financial statements have been prepared on a going concern basis. The directors have considered the assets and

liabilities of the company and are of the opinion that the company will continue to meet its liabilities as they fall due, with

the financial support of its parent company. The directors are satisfied that the company is a going concern.

These financial statements for the period ended 31st March 2017 are the first financial statements that comply with FRS 102

Section 1 A small entities. The date of transition is 1st April 2015.

The transition to FRS 102 Section 1 A small entities has not resulted in any amendments to the comparative balance sheet,

the balance sheet at the date of transition, or in the comparative income statement.

The company has taken the following exemption on

Turnover

Turnover represents net invoiced sales of goods and services from ordinary activities, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013. It has been amortised in full.

Intangible assets

Intangible assets consist of development costs. These are held at cost and amortised over the period the company expects to

derive economic benefit from them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on cost, 33% on cost and 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research is written off against profits in the year in which it is incurred. Development costs that are directly

attributable to the design and testing of identifiable and unique products controlled by the Company are recognised as

intangible assets when the following criteria are met:

-

It is technically feasible to complete the software so that it will be available for use;

-

Management intends to complete the software and use of sell it;

-

There is an ability to use or sell the software;

-

It can be demonstrated how the software will generate probable future economic benefits;

-

Adequate technical, financial and other recourses to complete the development and to use or sell the software are available; and

-

The expenditure attributable to the software during its development and be reliability measured.

Other development expenditures that so not meet these criteria are recognised as an expense as incurred. Development costs

previously recognised as an expense are not recognised as an asset in a subsequent period.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over

the expected useful lives of the assets. Grants towards revenue expenditure are released to the profit and loss account as the

related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2016 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

£

£

COST

At 1 April 2016

6,100

12,683

18,783

Additions

-

205,694

205,694

At 31 March 2017

6,100

218,377

224,477

AMORTISATION

At 1 April 2016

and 31 March 2017

6,100

12,683

18,783

NET BOOK VALUE

At 31 March 2017

-

205,694

205,694

At 31 March 2016

-

-

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

18,415

32,342

49,001

99,758

Additions

-

-

36,281

36,281

At 31 March 2017

18,415

32,342

85,282

136,039

DEPRECIATION

At 1 April 2016

16,009

32,094

49,000

97,103

Charge for year

2,406

248

10,369

13,023

At 31 March 2017

18,415

32,342

59,369

110,126

NET BOOK VALUE

At 31 March 2017

-

-

25,913

25,913

At 31 March 2016

2,406

248

1

2,655

6.

DEBTORS

31.3.17

31.3.16

£

£

Amounts falling due within one year:

Trade debtors

340,369

289,781

Other debtors

2,753

2,645

Tax

-

9,227

Prepayments

7,538

5,060

350,660

306,713

Amounts falling due after more than one year:

Other debtors

29,559

-

Aggregate amounts

380,219

306,713

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other loans

-

4,069

Hire purchase contracts

25,036

-

Trade creditors

30,048

13,836

Amounts owed to group undertakings

321,645

243,354

Social security and other taxes

14,095

10,299

VAT

54,667

68,235

Other creditors

4,641

4,842

Accruals and deferred income

175,266

143,197

Accrued expenses

16,353

7,383

Deferred government grants

-

1,024

641,751

496,239

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Other loans - 2-5 years

-

2,105

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Other loans

-

6,174

Loans from Finance Wales are secured by way of a fixed and floating charge over the undertaking, property and assets

present and future.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

11.	RELATED PARTY DISCLOSURES

The company was charged management charges of £217,654 (2016: £263,543) by its parent company, KWR Technologies

Limited. At the year end the company owed £332,645 (2016: £243,354) to KWR Technologies Limited.