GLURU_LIMITED - Accounts

DIGITAL EPISODE LTD. - Company Information

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Company Registration No. 08585294 (England and Wales)

GLURU LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

GLURU LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

GLURU LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

663,070

112,767

Tangible assets

5,542

3,906

668,612

116,673

Current assets

Debtors

161,398

3,869

Cash at bank and in hand

203,173

2,458

364,571

6,327

Creditors: amounts falling due within one year

(53,983)

(143,096)

Net current assets/(liabilities)

310,588

(136,769)

Total assets less current liabilities

979,200

(20,096)

Capital and reserves

Called up share capital

Share premium account

960,003

Profit and loss account

19,195

(20,097)

Shareholders' funds

979,200

(20,096)

For the financial year ended 30 June 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 4 September 2015

T Porter

Director

Company Registration No. 08585294

GLURU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Patents

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.4

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors is satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% on Cost

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2014

113,403

4,883

118,286

Additions

550,939

2,614

553,553

At 30 June 2015

664,342

7,497

671,839

Depreciation

At 1 July 2014

636

977

1,613

Charge for the year

636

978

1,614

At 30 June 2015

1,272

1,955

3,227

Net book value

At 30 June 2015

663,070

5,542

668,612

At 30 June 2014

112,767

3,906

116,673

GLURU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

1,793,971 Ordinary shares of £0.000001 pence per share

During the year, the company completed a reorganisation of its Ordinary share capital, which resulted in the issue of 1,000,000 Ordinary shares of £0.000001 each in exchange for every 1 Ordinary share of £1.

Following this reorganisation the company issued 793,971 Ordinary shares of £0.000001 each at the following premiums:

376,884 Ordinary shares at £0.7959999 per share

75,376 Ordinary shares at £0.7960083 per share

341,711 Ordinary shares at £1,7558810 per share