Abbreviated Company Accounts - NEW MODEL IDENTITY LIMITED

NEW MODEL IDENTITY LIMITED - Company Information

Registered Number 04105224

NEW MODEL IDENTITY LIMITED

Abbreviated Accounts

31 December 2014

NEW MODEL IDENTITY LIMITED Registered Number 04105224

Abbreviated Balance Sheet as at 31 December 2014

	2014	2013
	£	£
Current assets
Debtors	-	1,902
Cash at bank and in hand	105,952	130,636
	105,952	132,538
Prepayments and accrued income	-	-
Creditors: amounts falling due within one year	(2,006)	(13)
Net current assets (liabilities)	103,946	132,525
Total assets less current liabilities	103,946	132,525
Creditors: amounts falling due after more than one year	(29,445)	(29,445)
Provisions for liabilities	0	0
Accruals and deferred income	(31,945)	(69,898)
Total net assets (liabilities)	42,556	33,182
Capital and reserves
Called up share capital	250	225
Share premium account	199,900	149,925
Profit and loss account	(157,594)	(116,968)
Shareholders' funds	42,556	33,182

For the year ending 31 December 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 directors acknowledge their 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 Board on 17 April 2015

And signed on their behalf by:
Richard Rundle, Director
Jeremy Newman, Director

NEW MODEL IDENTITY LIMITED Registered Number 04105224

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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).

The financial statements have been prepared on a going concern basis, the validity of which depends on the financial support of the directors, shareholders and creditors of the company. The directors are confident that the financial support will continue to be in existence for the foreseeable future.

Turnover policy
The turnover shown in the profit and loss account represents any pre-trading activity during the period, exclusive of VAT.

Other accounting policies
Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction.

Directors
The directors holding office during the period received no remuneration.

Political and charitable donations
No contributions to charities political organisations were made during the year.

Company policy on the employment of disabled persons
It is the company’s policy to give employment to disabled persons wherever practicable.

Share Capital
Pre-trading expenditure relating to product development and legal and professional fees has been met by investment of £150,000 raised during 2013 under the Small Enterprise Investment Scheme and a further £50,000 raised in 2014 under the Enterprise Investment Scheme.

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

Related Party Transactions
Creditors include £29,445 (2013 £29,445) which is owed to J Newman, a director of the company. This loan is unsecured, interest-free, and repayable on demand.