Wireless Internet Technologies Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07402070 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2015

for

Wireless Internet Technologies Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Dr A J Richardson

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

07402070 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

CURRENT ASSETS

Cash at bank

1,665

52,568

CREDITORS

Amounts falling due within one year

2,262

11,406

NET CURRENT (LIABILITIES)/ASSETS

(597

)

41,162

TOTAL ASSETS LESS CURRENT LIABILITIES

(597

)

41,162

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(697

)

41,062

SHAREHOLDERS' FUNDS

(597

)

41,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 29 July 2016 and were signed by:

Dr A J Richardson - 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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

3 years straight line

Deferred tax

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

balance sheet date.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in profit and loss.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

932

DEPRECIATION

At 1 November 2014

and 31 October 2015

932

NET BOOK VALUE

At 31 October 2015

-

At 31 October 2014

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100