Abbreviated Company Accounts - GBTA EUROPE LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the unaudited profit and loss account represents amounts invoiced during the year.

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.

Tangible assets depreciation policy
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:

Computer equipment - 33.3% straight line
Website development costs - 20% straight line

Intangible assets amortisation policy
Amortisation 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:

Goodwill - fully amortised

Other accounting policies
Going concern

The unaudited financial statements have been prepared on the basis that the company can continue to operate as a going concern, despite having net liabilities of £1,066,373 (2013: £1,151,619).

At the balance sheet date the company's guarantors were supporting the company by way of an interest free loan amounting to £1,431,099 (2013: £1,315,933) which they do not intend to significantly reduce in the foreseeable future.

Fixed assets

All fixed assets are initially recorded at cost.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.


Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

5Fixed assets Investments
The company has a £1 investment which represents 100% of the share capital of NBTA Europe Limited a company incorporated in England & Wales.

The Cost and Net Book Value and 01 January 2014 and 31 December 2014 £1