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COMPANY REGISTRATION NUMBER: 04261508
NEXTWAY SOFTWARE UK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2022
NEXTWAY SOFTWARE UK LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2022
2022
2021
Note
£
£
£
Current assets
Debtors
4
24,223
13,990
Cash at bank and in hand
14,410
25,490
--------
--------
38,633
39,480
Creditors: amounts falling due within one year
5
13,075
16,508
--------
--------
Net current assets
25,558
22,972
--------
--------
Total assets less current liabilities
25,558
22,972
--------
--------
Net assets
25,558
22,972
--------
--------
Capital and reserves
Called up share capital
6
941,000
941,000
Profit and loss account
( 915,442)
( 918,028)
---------
---------
Shareholders funds
25,558
22,972
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 September 2022 , and are signed on behalf of the board by:
Mr K Hellum
Mr T Hougaard-Enevoldsen
Director
Director
Company registration number: 04261508
NEXTWAY SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, Blisworth Hill Farm, Stoke Road, Blisworth, Northampton, NN7 3DB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date except that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2022
2021
£
£
Trade debtors
111
Amounts owed by group undertakings and undertakings in which the company has a participating interest
22,814
12,730
Other debtors
1,298
1,260
--------
--------
24,223
13,990
--------
--------
5. Creditors: amounts falling due within one year
2022
2021
£
£
Social security and other taxes
376
Other creditors
12,699
16,508
--------
--------
13,075
16,508
--------
--------
6. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
941,000
941,000
941,000
941,000
---------
---------
---------
---------
7. Related party transactions
Included within debtors are the following amounts owed from related parties: Nextway Software A/S - £22,814 (2021 - £12,730)
8. Controlling party
The ultimate parent company is Nextway Software A/S (Danish Company number 10104106), a company incorporated in Denmark. The largest and the smallest group in which the results of the company are consolidated is that headed by Nextway Software A/S. The consolidated accounts of this company are available to the public on request.