Hookpod Ltd - Period Ending 2016-03-31

Registration number: 08371208

Hookpod Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Bradford House Accountancy
Chartered Certified Accountants
Bradford House
Yarmouth Road
Stalham
Norfolk
NR12 9PD

Hookpod Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hookpod Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hookpod Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.acca global.com /en/member /professional-standards /rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Hookpod Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hookpod Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.acca global.com/ content/ dam/ ACCA_Global / Technical / fact technical-fact sheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hookpod Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hookpod Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hookpod Ltd. You consider that Hookpod Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hookpod Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bradford House Accountancy
Chartered Certified Accountants
Bradford House
Yarmouth Road
Stalham
Norfolk
NR12 9PD

6 May 2016

Page 1

Hookpod Ltd
(Registration number: 08371208)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					45,000			45,000
Tangible fixed assets					1,400			1,750
					46,400			46,750
Current assets
Debtors					633			1,471
Cash at bank and in hand					27,802			96,096
					28,435			97,567
Creditors: Amounts falling due within one year					(975)			(2,415)
Net current assets					27,460			95,152
Total assets less current liabilities					73,860			141,902
Creditors: Amounts falling due after more than one year					(35,000)			(35,000)
Net assets					38,860			106,902
Capital and reserves
Called up share capital		4			14			14
Share premium account					236,418			215,114
Profit and loss account					(197,572)			(108,226)
Shareholders' funds					38,860			106,902

For the year ending 31 March 2016 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 notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Hookpod Ltd
(Registration number: 08371208)
Abbreviated Balance Sheet at 31 March 2016
......... continued

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 6 May 2016 and signed on its behalf by:

.........................................
Ms R J Ingham
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Hookpod Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	20% Reducing balance

Research and development

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

A research and development tax credit claim is being prepared at the date of the approval of the accounts but no exact figures are yet known therefore no provision has been made for this future income.

Intangible asset consists of intellectual property rights, research and development of prototype Hookpod which have not been amortised as the directors consider that they have not decreased in value.

Intangible asset consists of intellectual property rights, research and development of prototype Hookpod which have not been amortised as the directors consider that they have not decreased in value.

Page 4

Hookpod Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

3	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		45,000			2,280			47,280
At 31 March 2016		45,000			2,280			47,280
Depreciation
At 1 April 2015		-			530			530
Charge for the year		-			350			350
At 31 March 2016		-			880			880
Net book value
At 31 March 2016		45,000			1,400			46,400
At 31 March 2015		45,000			1,750			46,750

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Share capital of £0.01 each		1,457			15			1,408			14

New shares allotted

During the year 408 Ordinary having an aggregate nominal value of £4 were allotted for an aggregate consideration of £50,121.

During the year 49 Ordinary shares having an aggregate nominal value of £0.49 were alloted for an aggregate consideration of £21,304..

Page 5

Hookpod Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

5	Related party transactions

During the year the company made the following related party transactions:

During the year the Company made purchases of £28,902 (2015: £13,065) from Eco-Electric a company in which Mr B Kibel is a director.

It slso made purchases of £15,600 (2015: £12,469) from Fishtek a company in which Mr P Kibel and Mr B Kible are directors

It also made purchases of £7,851 (2015: nil) from Interpelagic a company in which Mr B Sullivan is a director.

All these transactions were at market value.

During the year the Company made purchases of £13,065 (2014: £9,757) from Eco-Electric a company in which B Kibel is a director.

It also made purchases of £12,469 (2014: £507) from Fishtek a company in which P Kibel and B Kibel are directors.

All these transactions were at market value.

Page 6