a2om International Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06917905 (England and Wales)

a2om International Limited

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N G Rowley

A A C Bayne

S A Marks

REGISTERED OFFICE:

Ramsden Grange

Hambledon Road

Busbridge

Godalming

Surrey

GU7 1XQ

REGISTERED NUMBER:

06917905 (England and Wales)

ACCOUNTANTS:

Hughes Waddell

The White House

2 Meadrow

Godalming

Surrey

GU7 3HN

FIXED ASSETS

Intangible assets

2

483,187

579,825

Tangible assets

3

25,303

28,930

Investments

4

2

1

508,492

608,756

CURRENT ASSETS

Debtors

482,270

141,386

Cash at bank

-

80,488

482,270

221,874

CREDITORS

Amounts falling due within one year

5

566,414

387,443

NET CURRENT LIABILITIES

(84,144

)

(165,569

)

TOTAL ASSETS LESS CURRENT LIABILITIES

424,348

443,187

CREDITORS

Amounts falling due after more than one year

696,983

689,207

NET LIABILITIES

(272,635

)

(246,020

)

CAPITAL AND RESERVES

Called up share capital

6

8,979

5,799

Share premium

2,572,952

1,945,886

Profit and loss account

(2,854,566

)

(2,197,705

)

SHAREHOLDERS' FUNDS

(272,635

)

(246,020

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 March 2015 and were signed on its behalf by:

N G Rowley - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the basis that the company will continue in operation as a going

concern. The directors believe that this basis is appropriate as they will ensure that sufficient funding is available

to the company to meet it's liabilities as they fall due for the foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of driver training goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Preparation of consolidated financial statements

The financial statements contain information about a2om International Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

966,377

AMORTISATION

At 1 July 2013

386,552

Amortisation for year

96,638

At 30 June 2014

483,190

NET BOOK VALUE

At 30 June 2014

483,187

At 30 June 2013

579,825

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

110,105

Additions

18,320

At 30 June 2014

128,425

DEPRECIATION

At 1 July 2013

81,175

Charge for year

21,947

At 30 June 2014

103,122

NET BOOK VALUE

At 30 June 2014

25,303

At 30 June 2013

28,930

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2013

1

Additions

1

At 30 June 2014

2

NET BOOK VALUE

At 30 June 2014

2

At 30 June 2013

1

The company's investments at the balance sheet date in the share capital of companies include the following:

a2om CIC

Nature of business: To provide young driver education software

%

Class of shares:

holding

Ordinary

100.00

30.6.14

31.12.12

£

£

Aggregate capital and reserves

(128,734

)

(54,992

)

Loss for the year

(73,742

)

(38,632

)

Drivermetrics

Nature of business: Provision of online driver training

%

Class of shares:

holding

Ordinary

100.00

30.6.14

£

Aggregate capital and reserves

(8,726

)

Loss for the year

(8,727

)

5.

CREDITORS

Creditors include an amount of £ 22,654 for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

9,832

Ordinary share capital

£1

8,979

5,799

(30.6.13 - 6,652 )

A total of 3180 Ordinary shares of £1 were issued during the year as follows:

246 for cash of £246

2,934 for cash of £630,000

In accordance with the company's 2010 Executive Share Purchase Plan, N Rowley, a director, entered into a

share subscription agreement to subscribe for 853 Ordinary shares of £1 each at a price of £396.43 per share. At

the balance sheet date no calls had been made on these shares.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2014 and

30 June 2013:

30.6.14

30.6.13

£

£

N G Rowley

Balance outstanding at start of year

18,626

-

Amounts advanced

44,078

34,652

Amounts repaid

(52,109

)

(16,026

)

Balance outstanding at end of year

10,595

18,626