Simpleware Limited - Period Ending 2015-12-31

Registration number: 04130925

Simpleware Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

Simpleware Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Simpleware Limited
(Registration number: 04130925)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		2			13,564			17,208
Tangible fixed assets		2			15,713			21,977
Investments		2			1			1
					29,278			39,186
Current assets
Debtors					361,380			452,340
Cash at bank and in hand					334,017			137,158
					695,397			589,498
Creditors: Amounts falling due within one year					(74,636)			(72,399)
Net current assets					620,761			517,099
Total assets less current liabilities					650,039			556,285
Creditors: Amounts falling due after more than one year					-			(4,000)
Provisions for liabilities					(3,143)			-
Net assets					646,896			552,285
Capital and reserves
Called up share capital		3			1,158			1,158
Profit and loss account					645,738			551,127
Shareholders' funds					646,896			552,285

For the year ending 31 December 2015 the company was entitled to exemption from audit 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 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 27 May 2016

Ms O A Murphy
 Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Simpleware Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of sales made during the year.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Amortisation

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 4 years.

Asset class	Amortisation method and rate
Patents	25% straight line

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
Computer equipment	Over 18 months
Fixtures, fittings and equipment	25% straight line

Research and development

Research and development expenditure is written off as incurred.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Page 2

Simpleware Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 January 2015		62,655			75,768			1			138,424
Additions		3,373			12,234			-			15,607
At 31 December 2015		66,028			88,002			1			154,031
Depreciation
At 1 January 2015		45,447			53,791			-			99,238
Charge for the year		7,017			18,498			-			25,515
At 31 December 2015		52,464			72,289			-			124,753
Net book value
At 31 December 2015		13,564			15,713			1			29,278
At 31 December 2014		17,208			21,977			1			39,186

Page 3

Simpleware Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Simpleware Inc.	USA	Ordinary	100%	Development of software

The profit for the financial period of Simpleware Inc. was £21,896 and the aggregate amount of capital and reserves at the end of the period was £26,666.

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A shares of £ 1 each		158			158			158			158
Ordinary B shares of £ 1 each		1,000			1,000			1,000			1,000
		1,158			1,158			1,158			1,158

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Dr P Young
Loan at 4%	-	72,500	62,500	-

Page 4