Genius Digital Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 08170657 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1st August 2013 to 31st December 2013

for

Genius Digital Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T R A Weiss

J H D Sykes

N North

I McCann

REGISTERED OFFICE:

9 Chalfont Court

Lower Earley

Reading

Berkshire

RG6 5SY

REGISTERED NUMBER:

08170657 (England and Wales)

ACCOUNTANTS:

Ashby's

Morton House

9 Beacon Court

Pitstone Green Business Park

Pitstone

LU7 9GY

FIXED ASSETS

Intangible assets

2

2,500

2,500

Tangible assets

3

10,889

8,524

13,389

11,024

CURRENT ASSETS

Debtors

183,334

137,799

Cash at bank

39,024

2,285

222,358

140,084

CREDITORS

Amounts falling due within one year

157,205

352,349

NET CURRENT ASSETS/(LIABILITIES)

65,153

(212,265

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,542

(201,241

)

CREDITORS

Amounts falling due after more than one year

958,920

226,998

NET LIABILITIES

(880,378

)

(428,239

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(880,380

)

(428,241

)

SHAREHOLDERS' FUNDS

(880,378

)

(428,239

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2013.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30th April 2014 and were signed on its behalf by:

T R A Weiss - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

At the balance sheet date net current assets amounted to £65,153 and net liabilities amounted to £880,378.

Since the period end the company has received significant extra funding. In addition the company has obtained

additional sales orders and measures have been taken to reduce costs. As a result the directors have adopted the

going concern basis of accounting.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

and 31st December 2013

2,500

NET BOOK VALUE

At 31st December 2013

2,500

At 31st July 2013

2,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

11,118

Additions

4,136

At 31st December 2013

15,254

DEPRECIATION

At 1st August 2013

2,594

Charge for period

1,771

At 31st December 2013

4,365

NET BOOK VALUE

At 31st December 2013

10,889

At 31st July 2013

8,524

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/13

31/7/13

value:

£

£

NIL

Ordinary

£1

-

2

200,000

Ordinary

£0.00001

2

-

2

2

During the period the ordinary £1 shares were sub-divided into ordinary £0.00001 shares.

All ordinary shares are non-redeemable and rank equally in terms of voting rights, rights to participate in

dividend distributions and rights to participate in any capital distributions on winding up.