WHATUSERSDO_LTD - Accounts
WHATUSERSDO_LTD - Accounts
Company Registration No. 06778056 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' INDEPENDENT ASSURANCE REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WHATUSERSDO LTD FOR THE YEAR ENDED 31 MAY 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
We have performed certain procedures in respect of the Company's unaudited financial statements for the year ended 31 May 2013, as set out on pages 3 to 10, and made enquiries of the Company's directors and assessed accounting policies adopted by the directors, in order to gather sufficient evidence for our conclusion to this report.
The report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 1st July 2012. It has been released to the directors on the basis that this report will not be copied, referred to or disclosed, in whole (save for the directors' own internal purposes or as may be required by law or by a competent regulator) or in part, without our prior written consent. Our work has been undertaken so that we might state to the directors those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law we do not accept or assume responsibility to anyone, other than the Company and the Company's directors as a body, for our work, for this report or the conclusions that we have formed.
You have confirmed that you have met your duty as set out in the directors' statement on page 1. You consider that the Company is exempt from the statutory requirement for an audit for the year. Our responsibility is to form and express an independent conclusion, based on the work carried out, to you on the financial statements.
Based on our work, nothing has come to our attention to refute the directors' confirmation that in accordance with the Companies Act 2006 the financial statements give a true and fair view of the state of the company’s affairs as at 31 May 2015 and its loss for the year ended and have been properly prepared in accordance with Generally Accepted Accounting Practice in the UK applicable to Smaller Entities.
J W Smith & Co Ltd
Chartered Accountants
United Kingdom
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(423,225 )
(197,784 )
Net current liabilities/(assets)
(152,027 )
Total assets less current liabilities
(99,458 )
Creditors: amounts falling due after more than one year
(179,328 )
(179,328 )
(278,786)
159,845
Capital and reserves
Called up share capital
3
Share premium account
Profit and loss account
(1,104,155 )
(650,268 )
Shareholders' funds
(278,786 )
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2015
- 3 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 18 December 2015
Director
Director
Company Registration No. 06778056
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
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
Turnover
1.4
Tangible fixed assets and depreciation
Computer equipment
Fixtures, fittings & equipment
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2014
29,072
Additions
45,846
At 31 May 2015
74,918
Depreciation
At 1 June 2014
-
8,942
Charge for the year
13,407
At 31 May 2015
22,349
Net book value
At 31 May 2015
52,569
At 31 May 2014
20,084
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
On 12 February there was a new share issue of 339 Ordinary shares of 1p with subscription deemed proceeds amounting to £15,255.
These shares were issued under an approved share incentive plan. The cost of the issue of these shares (£15,255) has been debited to the profit and loss account for the year.
The sum of £15,251 (being the subscription monies in excess of the par value of the shares issued ) has been credited to share premium account.
4
Ultimate parent company
No party is the ultimate controlling party.