Ghost Telecom Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05644630 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Ghost Telecom Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Camilleri

J Merino

G Hutchinson

SECRETARY:

M Camilleri

REGISTERED OFFICE:

3rd Floor Denmark Court

18 Market Place

Wokingham

Berkshire

RG40 1AL

REGISTERED NUMBER:

05644630 (England and Wales)

ACCOUNTANTS:

PPK Accountants Limited

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

257

1,406

257

1,406

CURRENT ASSETS

Debtors

121,701

278,252

Cash at bank

255,049

1,132,838

376,750

1,411,090

CREDITORS

Amounts falling due within one year

462,413

287,612

NET CURRENT (LIABILITIES)/ASSETS

(85,663

)

1,123,478

TOTAL ASSETS LESS CURRENT LIABILITIES

(85,406

)

1,124,884

CAPITAL AND RESERVES

Called up share capital

4

1,862

1,862

Share premium

6,749,038

6,749,038

Profit and loss account

(6,836,306

)

(5,626,016

)

SHAREHOLDERS' FUNDS

(85,406

)

1,124,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 March 2016 and were signed on its behalf by:

M Camilleri - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis.

Accounting convention

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of services provided in

the normal course of business. Turnover is recognised when the company obtains the right to receive

consideration for services provided. Deferred income is recognised as revenue on a straight-line basis in the

period the income relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Computer equipment

-

33% on cost

Research and development

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

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 transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

105,320

AMORTISATION

At 1 January 2015

and 31 December 2015

105,320

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

150,789

DEPRECIATION

At 1 January 2015

149,383

Charge for year

1,149

At 31 December 2015

150,532

NET BOOK VALUE

At 31 December 2015

257

At 31 December 2014

1,406

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,862

Ordinary

£1

1,862

1,862