Emosaic Limited - Period Ending 2015-04-30

Registration number: 03891471

Emosaic Limited

Unaudited Abbreviated Accounts

for the Period from 1 December 2013 to 30 April 2015

 

Emosaic Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Emosaic Limited
(Registration number: 03891471)
Abbreviated Balance Sheet at 30 April 2015

		Note			30 April 2015 £			30 November 2013 £
Fixed assets
Tangible fixed assets					60,530			30,956
Current assets
Debtors					321,437			83,884
Cash at bank and in hand					114,312			377,891
					435,749			461,775
Creditors: Amounts falling due within one year					(149,109)			(155,586)
Net current assets					286,640			306,189
Net assets					347,170			337,145
Capital and reserves
Called up share capital		3			500			500
Profit and loss account					346,670			336,645
Shareholders' funds					347,170			337,145

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Emosaic Limited
(Registration number: 03891471)
Abbreviated Balance Sheet at 30 April 2015
......... continued

For the year ending 30 April 2015 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 29 January 2016 and signed on its behalf by:

.........................................
Simon Drew Griffiths
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Emosaic Limited
Notes to the Abbreviated Accounts for the Period from 1 December 2013 to 30 April 2015
......... 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	25% reducing balance
Office Equipment	33% staight line

Research and development

Research and development costs are charged to the profit and loss when incurred and are included in administration costs. The amounts charged in 2015 and 2013 were £160,244 and £36,143 respectively.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Emosaic Limited
Notes to the Abbreviated Accounts for the Period from 1 December 2013 to 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2013		97,796			97,796
Additions		42,692			42,692
At 30 April 2015		140,488			140,488
Depreciation
At 1 December 2013		66,840			66,840
Charge for the period		13,118			13,118
At 30 April 2015		79,958			79,958
Net book value
At 30 April 2015		60,530			60,530
At 30 November 2013		30,956			30,956

3	Share capital

Allotted, called up and fully paid shares

	30 April 2015						30 November 2013
		No.			£			No.			£
Ordinary Shares of £1 each		400			400			400			400
Ordinary B Shares of £1 each		100			100			100			100
		500			500			500			500

Page 4

Emosaic Limited
Notes to the Abbreviated Accounts for the Period from 1 December 2013 to 30 April 2015
......... continued

4	Related party transactions

Directors' advances and credits

	1 December 2013 to 30 April 2015 Advance/ Credit £	1 December 2013 to 30 April 2015 Repaid £	Year ended 30 November 2013 Advance/ Credit £	Year ended 30 November 2013 Repaid £
Simon Drew Griffiths
Interest free loan	286,074	283,014	-	-

5

Control

The company is controlled by Simon Drew Griffiths by virtue of his controlling shareholding in the company.

6	Going concern

The directors have reviewed the twelve months ahead and considered the company's financial position and note no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.

Page 5