Caseware UK (AP4) 2016.0.208 2016.0.208 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 06213531 2017-04-01 2018-03-31 06213531 2016-04-01 2017-03-31 06213531 2018-03-31 06213531 2017-03-31 06213531 c:Director2 2017-04-01 2018-03-31 06213531 d:OfficeEquipment 2017-04-01 2018-03-31 06213531 d:OfficeEquipment 2018-03-31 06213531 d:OfficeEquipment 2017-03-31 06213531 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 06213531 d:ComputerEquipment 2017-04-01 2018-03-31 06213531 d:ComputerEquipment 2018-03-31 06213531 d:ComputerEquipment 2017-03-31 06213531 d:ComputerEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 06213531 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 06213531 d:PatentsTrademarksLicencesConcessionsSimilar 2018-03-31 06213531 d:PatentsTrademarksLicencesConcessionsSimilar 2017-03-31 06213531 d:CurrentFinancialInstruments 2018-03-31 06213531 d:CurrentFinancialInstruments 2017-03-31 06213531 d:Non-currentFinancialInstruments 2018-03-31 06213531 d:Non-currentFinancialInstruments 2017-03-31 06213531 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 06213531 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 06213531 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 06213531 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 06213531 d:ShareCapital 2018-03-31 06213531 d:ShareCapital 2017-03-31 06213531 d:RetainedEarningsAccumulatedLosses 2018-03-31 06213531 d:RetainedEarningsAccumulatedLosses 2017-03-31 06213531 c:FRS102 2017-04-01 2018-03-31 06213531 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 06213531 c:FullAccounts 2017-04-01 2018-03-31 06213531 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 06213531









Apadmi Limited







Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2018

 
Apadmi Limited
Registered number: 06213531

Balance Sheet
As at 31 March 2018

2018
2017
Note
£
£

Fixed assets
  

Intangible assets
 4 
141
141

Tangible fixed assets
  
94,036
107,554

  
94,177
107,695

Current assets
  

Debtors: amounts falling due within one year
 6 
1,931,608
973,378

Cash at bank and in hand
 7 
219,676
967,181

  
2,151,284
1,940,559

Creditors: amounts falling due within one year
 8 
(615,389)
(398,233)

Net current assets
  
 
 
1,535,895
 
 
1,542,326

Total assets less current liabilities
  
1,630,072
1,650,021

Creditors: amounts falling due after more than one year
 9 
(507,812)
(568,750)

  

Net assets
  
1,122,260
1,081,271


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,122,160
1,081,171

  
1,122,260
1,081,271


Page 1

 
Apadmi Limited
Registered number: 06213531
    
Balance Sheet (continued)
As at 31 March 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 year 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 income and retained earnings 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: 

................................................
G Partington
Director
Date: 7 November 2018


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

1.


General information

Apadmi Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Warren Bruce Court, Warren Bruce Road, Trafford Park, Manchester, M17 1LB.
The company's regestered number is 06213531.
The company's principal activity is that of software consulting.

2.Accounting policies

 
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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the statement of income and retained earnings within 'other operating income'.

Page 3

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 April 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.5

Finance costs

Finance costs are charged to the statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.

Page 4

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

2.Accounting policies (continued)

 
2.7

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 income and retained earnings 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.

 
2.8

Taxation

Tax is recognised in the statement of income and retained earnings, 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.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
15%
on reducing balance
Computer equipment
-
25%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 6

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

2.Accounting policies (continued)

 
2.15

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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 income and retained earnings.

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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.16

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 year was 55 (2017 - 53).

Page 7

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

4.


Intangible assets




Patents

£



Cost


At 1 April 2017
141



At 31 March 2018

141






Net book value



At 31 March 2018
141



At 31 March 2017
141


5.


Tangible fixed assets





Office equipment
Computer equipment & software
Total

£
£
£



Cost or valuation


At 1 April 2017
25,842
158,419
184,261


Additions
3,454
25,456
28,910



At 31 March 2018

29,296
183,875
213,171



Depreciation


At 1 April 2017
8,853
67,854
76,707


Charge for the year on owned assets
3,306
39,122
42,428



At 31 March 2018

12,159
106,976
119,135



Net book value



At 31 March 2018
17,137
76,899
94,036



At 31 March 2017
16,989
90,565
107,554

Page 8

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

6.


Debtors

2018
2017
£
£


Trade debtors
543,213
358,521

Amounts owed by group undertakings
909,242
387,572

Amounts owed by joint ventures and associated undertakings
105,020
68,185

Other debtors
88,289
9,987

Prepayments and accrued income
45,979
41,510

Amounts recoverable on long term contracts
48,600
60,103

Tax recoverable
191,265
47,500

1,931,608
973,378



7.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
219,676
967,181

219,676
967,181



8.


Creditors: Amounts falling due within one year

2018
2017
£
£

Payments received on account
28,392
28,392

Trade creditors
115,093
44,044

Amounts owed to group undertakings
-
4,428

Other taxation and social security
226,962
163,244

Other creditors
5,151
5,150

Accruals and deferred income
239,791
152,975

615,389
398,233


Page 9

 
Apadmi Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2018

9.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Other loans
507,812
568,750

507,812
568,750


Secured loans
Other loans is secured by debenture over the fixed and floating assets of the company.


10.


Controlling party

Apadmi Group Limited, a private company limited by shares  incorporated in England and Wales, is the company's immediate and ultimate parent undertaking by virtue of its 100% ownership of share capital.The address of the regisered office and principal place of business is Warren Bruce Court, Warren Bruce Road, Trafford Park, Manchester, M17 1LB. 

 
Page 10