Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-31 2017-12-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. true false No description of principal activity false 2017-01-01 10373330 2017-01-01 2017-12-31 10373330 2017-12-31 10373330 2016-12-31 10373330 c:Director3 2017-01-01 2017-12-31 10373330 d:FurnitureFittings 2017-12-31 10373330 d:FurnitureFittings 2016-12-31 10373330 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 10373330 d:ComputerEquipment 2017-01-01 2017-12-31 10373330 d:OtherPropertyPlantEquipment 2017-01-01 2017-12-31 10373330 d:Goodwill 2017-01-01 2017-12-31 10373330 d:Goodwill 2017-12-31 10373330 d:Goodwill 2016-12-31 10373330 d:CurrentFinancialInstruments 2017-12-31 10373330 d:CurrentFinancialInstruments 2016-12-31 10373330 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 10373330 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 10373330 d:ShareCapital 2017-12-31 10373330 d:ShareCapital 2016-12-31 10373330 d:SharePremium 2017-12-31 10373330 d:SharePremium 2016-12-31 10373330 d:RetainedEarningsAccumulatedLosses 2017-12-31 10373330 d:RetainedEarningsAccumulatedLosses 2016-12-31 10373330 c:FRS102 2017-01-01 2017-12-31 10373330 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 10373330 c:FullAccounts 2017-01-01 2017-12-31 10373330 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP xbrli:pure

Registered number:  10373330









SCL INSIGHT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

 
SCL INSIGHT LIMITED
REGISTERED NUMBER:  10373330

STATEMENT OF FINANCIAL POSITION
AS AT  31 DECEMBER 2017

2017
2016
Note
£
£
   

Intangible assets
 5 
80,905
107,874

Tangible assets
 6 
1,630
2,173

   
82,535
110,047

Current assets
   

Debtors: amounts falling due within one year
 7 
959,075
680,227

Cash at bank and in hand
 8 
95
41

   
959,170
680,268

Creditors: amounts falling due within one year
 9 
(1,051,188 )
(704,271 )

Net current liabilities
   
 
 
(92,018 )
 
 
(24,003 )

Total assets less current liabilities
   
(9,483 )
86,044

   

Net (liabilities)/assets
   
(9,483 )
86,044

Capital and reserves
   

Called up share capital 
 10 
200
200

Share premium account
   
400
400

Profit and loss account
   
(10,083 )
85,444

   
(9,483 )
86,044


Page 1

 
SCL INSIGHT LIMITED
REGISTERED NUMBER:  10373330
    
STATEMENT OF FINANCIAL POSITION  (CONTINUED)
AS AT  31 DECEMBER 2017

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 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 on  19 September 2018 .




N Oakes
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

General information

SCL Insight Limited  is  a  private  company  limited  by  shares  and  registered  in  England  &  Wales.  The address of its registered office is Regina House, 124 Finchley Road, London, NW3 5JS. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

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.

Page 3

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2. Accounting policies (continued)

2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the profit and loss account over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-

2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Computer equipment
-
33 %
Straight line
Other fixed assets
-
25 %
Reducing balance

2.5

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.

2.6

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.

Page 4

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2. Accounting policies (continued)

2.7

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.

2.8

Creditors

Short term creditors are measured at the transaction price. 

2.9

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 profit and loss account  except when deferred in other comprehensive income as qualifying cash flow hedges.

2.10

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 profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
The preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the period end,  work  undertaken  which  has  not  been  invoiced  based  on  quotations  or  estimates  of  amounts  that maybe due for payment. 

The average monthly number of employees, including directors, during the year was 3  (2016 -  3 ) .





£



Cost


At 1 January 2017
134,843



At 31 December 2017

134,843



Amortisation


At 1 January 2017
26,969


Charge for the year
26,969



At 31 December 2017

53,938



Net book value



At 31 December 2017
80,905



At 31 December 2016
107,874

Page 6

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Fixtures and fittings

£



Cost or valuation


At 1 January 2017
2,173



At 31 December 2017

2,173



Depreciation


Charge for the year on owned assets
543



At 31 December 2017

543



Net book value



At 31 December 2017
1,630



At 31 December 2016
2,173

2017
2016
£
£


Trade debtors
921,817
549,137

Other debtors
3,081
2,570

Prepayments and accrued income
34,177
128,520

959,075
680,227


2017
2016
£
£

Cash at bank and in hand
95
41

Less: bank overdrafts
(141 )
-

(46 )
41


Page 7

 
SCL INSIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
2017
2016
£
£

Bank overdrafts
141
-

Trade creditors
199,035
90,487

Amounts owed to group undertakings
98,472
53,329

Other taxation and social security
40,270
22,696

Other creditors
510,223
374,787

Accruals and deferred income
203,047
162,972

1,051,188
704,271


2017
2016
£
£
Allotted, called up and fully paid



200  (2016 -  200 )  Ordinary shares of £ 1.00  each
200
200



Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £419 (2016: £31). 

On 30 November 2016 the parent company, SCL Group Limited, transferred its trade to SCL Insight Limited for a consideration of £134,843. At the reporting date £38,472 (2016: £53,329) was due to SCL Group Limited.
At the reporting date, £60,000 was owed to SCL Elections Limited, a member of the SCL Group.
The company has receive loans from A Oakes, a former director of the company. At the reporting date £29,764 (2016: £12,300) was due to A Oakes. At the reporting date, £963 (2016: £nil) was owed to Oriental and Western Limited, a company of which A Oakes is a director.
The company has received loans from N Oakes, the director. At the reporting date £457,009 (2016: £345,705) was due to N Oakes. The loans is interest free and repayable on demand.

The company was under the control of SCL Group Limited until 7 March 2017 when N Oakes became the controlling party.

Page 8

 
SCL INSIGHT LIMITED
 
 
 Page 9