Sharkbyte Studios Limited - Period Ending 2014-06-30

Registration number: 05490078

Sharkbyte Studios Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

RMCA
Chartered Accountants
The Counting House
High Street
Tring
Herts
HP23 5TE

Sharkbyte Studios Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Sharkbyte Studios Limited
(Registration number: 05490078)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					3,040			4,054
Current assets
Debtors					-			5,817
Cash at bank and in hand					15,719			26,271
					15,719			32,088
Creditors: Amounts falling due within one year					(5,948)			(13,680)
Net current assets					9,771			18,408
Net assets					12,811			22,462
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					12,711			22,362
Shareholders' funds					12,811			22,462

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 26 March 2015

B Mason Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Sharkbyte Studios Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. In respect of long-term contracts and contracts for on-going services,turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Equipment	20% straight line

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		20,172			20,172
Additions		713			713
Disposals		(984)			(984)
At 30 June 2014		19,901			19,901
Depreciation
At 1 July 2013		16,118			16,118
Charge for the year		1,479			1,479
Eliminated on disposals		(736)			(736)
At 30 June 2014		16,861			16,861
Net book value
At 30 June 2014		3,040			3,040
At 30 June 2013		4,054			4,054

Page 2

Sharkbyte Studios Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3