Abbreviated Company Accounts - INTUITIVE BUSINESS INTELLIGENCE LIMITED

INTUITIVE BUSINESS INTELLIGENCE LIMITED - Company Information

07309070 INTUITIVE BUSINESS INTELLIGENCE LIMITED 2015-09-30 false 2014-10-01 2015-09-30 true 07309070 2014-10-01 2015-09-30 07309070 2015-09-30 07309070 2014-09-30 07309070 uk-gaap-cd-bus:Director1 2014-10-01 2015-09-30 07309070 uk-gaap-cd-bus:Director2 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 iso4217:GBP shares

Registered Number 07309070

INTUITIVE BUSINESS INTELLIGENCE LIMITED

Abbreviated Accounts

30 September 2015

INTUITIVE BUSINESS INTELLIGENCE LIMITED Registered Number 07309070

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	211,293	172,877
Tangible assets	3	1,324	2,992
		212,617	175,869
Current assets
Debtors		103,182	43,062
Cash at bank and in hand		67,505	-
		170,687	43,062
Prepayments and accrued income		14,992	40,494
Creditors: amounts falling due within one year	4	(350,129)	(316,730)
Net current assets (liabilities)		(164,450)	(233,174)
Total assets less current liabilities		48,167	(57,305)
Total net assets (liabilities)		48,167	(57,305)
Capital and reserves
Called up share capital	5	200,745	200,745
Share premium account		249,777	249,777
Profit and loss account		(402,355)	(507,827)
Shareholders' funds		48,167	(57,305)

For the year ending 30 September 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 their behalf by:
Mr R J Stocker, Director

INTUITIVE BUSINESS INTELLIGENCE LIMITED Registered Number 07309070

Notes to the Abbreviated Accounts for the period ended 30 September 2015

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
Turnover represents the value,net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Revenue from the sale of software is recognised at the time the software license is granted in accordance with agreed contract milestones such as installation at customer location. Revenues for support services are recognised proportionally over the period the services are provided. Payments received in advance of services are recorded in the balance sheet as deferred income.

Other accounting policies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

2Intangible fixed assets

	£
Cost
At 1 October 2014	253,285
Additions	101,781
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	355,066
Amortisation
At 1 October 2014	80,408
Charge for the year	63,365
On disposals	-
At 30 September 2015	143,773
Net book values
At 30 September 2015	211,293
At 30 September 2014	172,877

Research and Development expenditure on clearly defined projects whose outcome can be assessed with reasonable certainty is capitilised and amortisation is commenced in the year the expenditure is incurred over a period of 5 years. Any projects not meeting these criteria are immediately charged to the profit and loss account.

3Tangible fixed assets

	£
Cost
At 1 October 2014	5,737
Additions	440
Disposals	(733)
Revaluations	-
Transfers	-
At 30 September 2015	5,444
Depreciation
At 1 October 2014	2,745
Charge for the year	1,818
On disposals	(443)
At 30 September 2015	4,120
Net book values
At 30 September 2015	1,324
At 30 September 2014	2,992

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Computer Equipment 33% on cost.

4Creditors

	2015 £	2014 £
Secured Debts	-	2,786

5Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
200,745 Ordinary shares of £1 each	200,745	200,745