TRUEVIEW_LIMITED - Accounts

TRUEVIEW LIMITED - Company Information

Print Friendly Version

Company Registration No. 08121585 (England and Wales)

TRUEVIEW LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

TRUEVIEW LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TRUEVIEW LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

207,195

Tangible assets

13,497

7,424

220,692

7,424

Current assets

Debtors

55,416

75,090

Cash at bank and in hand

17,685

55,203

73,101

130,293

Creditors: amounts falling due within one year

(243,495)

(62,232)

Net current (liabilities)/assets

(170,394)

68,061

Total assets less current liabilities

50,298

75,485

Capital and reserves

Called up share capital

Share premium account

649,949

399,957

Profit and loss account

(599,704)

(324,517)

Shareholders' funds

50,298

75,485

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 March 2016

A J Ibbotson

Director

Company Registration No. 08121585

TRUEVIEW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company. The shareholders have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

1.2

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.3

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% straight line

Fixtures, fittings & equipment

25% straight line

1.5

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.

TRUEVIEW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2014

8,271

Additions

207,195

10,869

218,064

At 30 June 2015

207,195

19,140

226,335

Depreciation

At 1 July 2014

847

Charge for the year

4,796

At 30 June 2015

5,643

Net book value

At 30 June 2015

207,195

13,497

220,692

At 30 June 2014

7,424

Share capital

2015

2014

Allotted, called up and fully paid

311,535 Ordinary A Shares of £0.0001 each

34,615 Ordinary B Shares of £0.0001 each

101,809 Preference Shares of £0.0001 each

During the year the company issued 82,955 preference shares of £0.0001 each at a premium of £3.0136 per share.

Related party relationships and transactions

At the balance sheet date, the company was owed £Nil (2013: £9) by A J Ibbotson, £Nil (2013: £9) by M R Verity, and owed £Nil (2013: £9) by D Mitchell, who are all directors of the company. No interest is accruing on these amounts.