Caseware UK (AP4) 2018.0.111 2018.0.111 2018-08-312018-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueConsultancyfalse2017-10-01 06372978 2017-10-01 2018-08-31 06372978 2018-08-31 06372978 2017-09-30 06372978 c:Director1 2017-10-01 2018-08-31 06372978 c:Director2 2017-10-01 2018-08-31 06372978 d:CurrentFinancialInstruments 2018-08-31 06372978 d:CurrentFinancialInstruments 2017-09-30 06372978 d:Non-currentFinancialInstruments 2017-09-30 06372978 d:CurrentFinancialInstruments d:WithinOneYear 2018-08-31 06372978 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-30 06372978 d:ShareCapital 2018-08-31 06372978 d:ShareCapital 2017-09-30 06372978 d:RetainedEarningsAccumulatedLosses 2018-08-31 06372978 d:RetainedEarningsAccumulatedLosses 2017-09-30 06372978 c:FRS102 2017-10-01 2018-08-31 06372978 c:AuditExempt-NoAccountantsReport 2017-10-01 2018-08-31 06372978 c:FullAccounts 2017-10-01 2018-08-31 06372978 c:PrivateLimitedCompanyLtd 2017-10-01 2018-08-31 06372978 d:Subsidiary1 2017-10-01 2018-08-31 06372978 d:Subsidiary1 1 2017-10-01 2018-08-31 06372978 d:WithinOneYear 2018-08-31 06372978 d:WithinOneYear 2017-09-30 iso4217:GBP xbrli:pure
Registered number: 06372978






UMACS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018










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UMACS LIMITED
REGISTERED NUMBER:06372978

BALANCE SHEET
AS AT 31 AUGUST 2018

31 August
30 September
2018
2017
Note
£
£

Fixed assets
  

Investments
 4 
-
51

  
-
51

Current assets
  

Debtors: amounts falling due within one year
 5 
35,778
1,363,866

Cash at bank and in hand
 6 
2,737,679
3,711,565

  
2,773,457
5,075,431

Creditors: amounts falling due within one year
 7 
(120,750)
(3,015,867)

Net current assets
  
 
 
2,652,707
 
 
2,059,564

Total assets less current liabilities
  
2,652,707
2,059,615

  

Net assets
  
2,652,707
2,059,615


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,652,607
2,059,515

  
2,652,707
2,059,615


Page 1

 
UMACS LIMITED
REGISTERED NUMBER:06372978
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2018

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 period 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 statement of comprehensive income 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 by: 




................................................
A Jones
................................................
F McLoughlin
Director
Director


Date: 6 November 2018

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
UMACS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018

1.


General information

UMACS Limited is a private company limited by share capital, incorporated in England and Wales, registration numbers 06372978. The address of the registered office is 51 Lincoln's Inn Fields, London, WC2A 3NA.  The accounting period has been shortened by one month from 30 September.

2.

 
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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
UMACS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018

2. (continued)

 
2.5

Taxation

Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Page 4

 
UMACS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018

2. (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2017 -16).


4.


Fixed asset investments








Investments in subsidiary companies

£





At 1 October 2017
51


Disposals
(51)



At 31 August 2018

-









At 31 August 2018
-



At 30 September 2017
51

Subsidiary undertakings

During the year the following were subsidiary undertakings of the Company. UMACS Services Limited was closed in the year:

Name
Class of shares
Holding
Principal activity

UMACS Services Limited
A Ordinary
 51%
Dormant prior to closure

Page 5

 
UMACS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018

5.


Debtors

31 August
30 September
2018
2017
£
£


Trade debtors
19,080
795,268

Amounts owed by group undertakings
-
2,949

Prepayments and accrued income
16,698
565,649

35,778
1,363,866



6.


Cash and cash equivalents

31 August
30 September
2018
2017
£
£

Cash at bank and in hand
2,737,679
3,711,565

2,737,679
3,711,565



7.


Creditors: Amounts falling due within one year

31 August
30 September
2018
2017
£
£

Other taxation and social security
84,500
588,892

Other creditors
-
1,600,000

Accruals and deferred income
36,250
826,975

120,750
3,015,867


Page 6

 
UMACS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018

8.


Commitments under operating leases

At 31 August 2018 the Company had future minimum lease payments under non-cancellable operating leases as follows:

31 August
30 September
2018
2017
£
£


Not later than 1 year
2,290
12,555

2,290
12,555


9.


Reserve movement

The movement in reserves includes profits and dividends. 

 
Page 7