Caseware UK (AP4) 2018.0.111 2018.0.111 2018-12-31 2018-12-31 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 2018-01-01 09469079 2018-01-01 2018-12-31 09469079 2017-01-01 2017-12-31 09469079 2018-12-31 09469079 2017-12-31 09469079 2017-01-01 09469079 c:PriorPeriodIncreaseDecrease 2018-01-01 2018-12-31 09469079 c:RestatedAmount 2017-12-31 09469079 1 2018-01-01 2018-12-31 09469079 d:CompanySecretary1 2018-01-01 2018-12-31 09469079 d:Director1 2018-01-01 2018-12-31 09469079 d:Director2 2018-01-01 2018-12-31 09469079 d:RegisteredOffice 2018-01-01 2018-12-31 09469079 c:CurrentFinancialInstruments 2018-12-31 09469079 c:CurrentFinancialInstruments 2017-12-31 09469079 c:CurrentFinancialInstruments c:WithinOneYear 2018-12-31 09469079 c:CurrentFinancialInstruments c:WithinOneYear 2017-12-31 09469079 c:ShareCapital 2018-12-31 09469079 c:ShareCapital 2017-12-31 09469079 c:ShareCapital 2017-01-01 09469079 c:RetainedEarningsAccumulatedLosses 2018-01-01 2018-12-31 09469079 c:RetainedEarningsAccumulatedLosses 2018-12-31 09469079 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2018-01-01 2018-12-31 09469079 c:RetainedEarningsAccumulatedLosses 2017-01-01 2017-12-31 09469079 c:RetainedEarningsAccumulatedLosses 2017-12-31 09469079 c:RetainedEarningsAccumulatedLosses c:RestatedAmount 2017-12-31 09469079 c:RetainedEarningsAccumulatedLosses 2017-01-01 09469079 d:FRS102 2018-01-01 2018-12-31 09469079 d:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 09469079 d:FullAccounts 2018-01-01 2018-12-31 09469079 d:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 09469079 d:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-01-01 2018-12-31 iso4217:GBP
Registered number: 09469079 (England and Wales)














AVIRAT, LTD
UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018


 
AVIRAT, LTD
 

 
COMPANY INFORMATION


J Kissoon  
L Patterson  




F&L CoSec Limited



09469079



New Penderel House
4th Floor

283-288 High Holborn

London

United Kingdom

WC1V 7HP




F&L Corporate Reporting Services Limited

New Penderel House

4th Floor

283-288 High Holborn

London

United Kingdom

WC1V 7HP






 
AVIRAT, LTD
 


CONTENTS



Page
Balance sheet
 
1 - 2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 6



 
AVIRAT, LTD
REGISTERED NUMBER: 09469079


BALANCE SHEET
AS AT  31 DECEMBER 2018

2018
As restated 2017
Note
£
£
   

Current assets
   

Debtors: amounts falling due within one year
   
-
326

Cash at bank and in hand
 4 
13,207
2,807

   
13,207
3,133

Creditors: amounts falling due within one year
 5 
(128,194 )
(86,567 )

Net current liabilities
   
 
 
(114,987 )
 
 
(83,434 )

Total assets less current liabilities
   
(114,987 )
(83,434 )

   

Net liabilities
   
(114,987 )
(83,434 )

Capital and reserves
   

Called up share capital 
   
1
1

Profit and loss account
   
(114,988 )
(83,435 )

   
(114,987 )
(83,434 )


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 profit and loss account 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 : 

Director

Date:  11 July 2019
Page 1


 
AVIRAT, LTD
REGISTERED NUMBER: 09469079

    
BALANCE SHEET  (CONTINUED)
AS AT  31 DECEMBER 2018


The notes on pages 4 to 6 form part of these financial statements.

Page 2


 
AVIRAT, LTD
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED  31 DECEMBER 2018


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2017
1
(37,342 )
(37,341 )



Loss for the year
-
(46,093 )
(46,093 )



At 1 January 2018 (as previously stated)
1
(78,958 )
(78,957 )

Prior year adjustments (Note 5)
-
(4,477 )
(4,477 )


At 1 January 2018 (as restated)
1
(83,435 )
(83,434 )



Loss for the year
-
(31,553 )
(31,553 )
1
(114,988 )
(114,987 )


The notes on pages 4 to 6 form part of these financial statements.

Page 3


 
AVIRAT, LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies

1.1

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 .

These financial statements have been prepared on the going concern basis as the parent company, Avirat, Inc., has indicated its continuing report to the Company. Should this support be withdrawn, then all the Company's assets would have to be restated at their net realisable value sand its liabilities would have to be treated as falling due on demand.

The following principal accounting policies have been applied:

1.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

1.3

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.

1.4

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.

1.5

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 4


 
AVIRAT, LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies (continued)

1.6

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.

The Company has no employees other than the directors, who did not receive any remuneration  (2017 - £ NIL ) .

The average monthly number of employees, excluding the directors, during the year was 0  (2017 -  0 ) .

2018
As restated 2017
£
£


Other debtors
-
326

-
326


2018
2017
£
£

Cash at bank and in hand
13,207
2,807

13,207
2,807


Page 5


 
AVIRAT, LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
2018
As restated 2017
£
£

Amounts owed to group undertakings
123,336
82,642

Other taxation and social security
933
-

Accruals and deferred income
3,925
3,925

128,194
86,567


During the year, management noted that they had previously been accounting for their sales and expenses gross of VAT.  A prior year adjustment has been recognised to correct this resulting in a decrease in prior year turnover of £2,730 and of £3,056 to administratve expenses.  This also increased other debtors by £326.
Management also noted an understatement of their prior year cost of sales of £4,803 and an adjustment has been recognised in order to increase the prior year cost of sales and amounts owed to group undertaking by that amount.
The aggregate of these adjustments has increased the previously reported loss and retained earnings deficit by £4,477.

Avirat, Inc. is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 230 13th Avenue NE, Minneapolis, MN 55413, USA.

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.

Page 6