| Ephemeral Labs Limited |
| Registered number: |
08082788 |
| Abbreviated Balance Sheet |
| as at 30 April 2014 |
|
|
|
|
|
|
|
|
| 11 months |
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
10,532 |
|
|
- |
|
| Current assets |
| Debtors |
|
|
1,953 |
|
|
- |
| Cash at bank and in hand |
|
|
332,600 |
|
|
14,792 |
|
|
|
334,553 |
|
|
14,792 |
|
| Creditors: amounts falling due within one year |
|
|
(354,677) |
|
|
(4,934) |
|
| Net current (liabilities)/assets |
|
|
|
(20,124) |
|
|
9,858 |
|
| Net (liabilities)/assets |
|
|
|
(9,592) |
|
|
9,858 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
4,678 |
|
|
3,084 |
| Share premium |
|
|
|
515,124 |
|
|
116,716 |
| Profit and loss account |
|
|
|
(529,394) |
|
|
(109,942) |
|
| Shareholders' funds |
|
|
|
(9,592) |
|
|
9,858 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| J N Russell |
| Director |
| Approved by the board on 29 September 2014 |
|
| Ephemeral Labs Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 April 2014 |
|
|
|
|
|
|
|
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
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. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
33.33% straight line |
|
|
Foreign currencies |
|
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. |
|
|
Research and development |
|
Expenditure on research and development is written off in the period in which it is incurred. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
Additions |
13,086 |
|
At 30 April 2014 |
13,086 |
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the year |
2,554 |
|
At 30 April 2014 |
2,554 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2014 |
10,532 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£0.01 each |
|
308,400 |
|
3,084 |
|
3,084 |
|
A Preferred shares |
£0.01 each |
|
159,363 |
|
1,594 |
|
- |
|
|
|
|
|
|
4,678 |
|
3,084 |
|
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
A Preferred shares |
£0.01 each |
|
159,363 |
|
1,594 |
|
|
|
|
|
|
|
|
During the period the company issued 159,363 A Preferred shares of total aggregate nominal value of £1,569 for a total consideration of £400,001
Each preferred share carries one vote and has rights to a fixed cumulative compounding cash preferential dividend at the annual rate of 8% of the issue price, to be paid on an exit, IPO or conversion date, or the winding up of the company. For distribution of assets on a liquidation or return of capital, prefence shares carry preference. For other profit distributions, the preference shares rank pari passu with the other classes of shares. |
|
| 4 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
J N Russell |
|
Loans |
- |
|
86 |
|
- |
|
86 |
|
|
M Salter |
|
Loans |
- |
|
60 |
|
- |
|
60 |
|
|
|
- |
|
146 |
|
- |
|
146 |
|
|
|
|
|
|
|
|
|
| 5 |
Post balance sheet event |
|
|
On 6 May 2014, the company issued 106,368 A Preferred shares of £0.01 each for a total consideration of £312,670. |
