Abbreviated Company Accounts - ANALYTICS SEO LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the value, net of value added tax and discounts, of goods or services provided to customers.

Turnover on rolling monthly software subscriptions is recognised in the month it is billed. Turnover on longer term subscriptions is deferred and recognised over the life of the subscription agreement.

Tangible assets depreciation policy
Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Furniture and Fixtures - 25% pa straight line
Computer Equipment and Software - 33% pa straight line

Other accounting policies
Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

Foreign currency
Foreign currency transactions are translated at the rates ruling in the month they occurred. Foreign currency monetary assets and liabilities are translated at the rate of exchange ruling at the balance sheet date. Any differences are taken to the profit and loss account.

Deferred taxation
Deferred tax liabilities are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. No deferred tax assets have been recognised. Deferred tax balances are not discounted.

Going concern
During the year to 30 September 2015 the Company made a loss of £298,745 (2014: £37,507) as it continued to invest in new platform features while also scaling its sales and marketing resources, bringing total accumulated losses to £984,746 (2014: £686,001).

The Company has established strong recurring revenue streams for its core search engine optimisation platform and is currently rolling out custom new features that are expected to contribute to further revenue growth. Consequently the directors believe that the going concern basis remains appropriate for the preparation of the financial statements.

The Company has entered into Enterprise Management Incentive Option Agreements with a number of its staff. At 30 September 2015 the total number of ordinary shares subject to these option agreements is 7,885 (September 2014: 3,750). Under the terms of these agreements, the options may only be exercised on a sale or listing of the business. During the year ending 30 September 2015 4,135 share options were issued and nil options lapsed.

On 13 March 2015 the Company issued 9,944 ordinary shares of £0.01 each for a total consideration of £300,000.

5Transactions with directors

L. O'Toole and P. Holt
The above Directors have personally provided some of the Company's working capital. At the end of the period, the amount owed by the Company to them, jointly and severally, was £235,126 (2014: £251,126). Under the terms of the original shareholder loan agreement dated 1 November 2010 (as amended on 28 March 2012, 1 August 2012, 1 July 2013 and 1 April 2014) the loan does not bear interest and has no fixed terms of repayment. The loan can be repaid in full at any time without penalty.