| Stickyworld Limited |
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| Balance Sheet |
| 31 March 2014 |
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Notes |
2014 |
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2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
1,975 |
|
604 |
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|
1,975 |
|
604 |
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| Current assets |
| Stock and work in progress |
26,877 |
|
20,000 |
| Debtors |
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3 |
14,594 |
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15,912 |
| Cash in the bank and in hand |
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1,202 |
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11,412 |
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42,673 |
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47,324 |
| Current liabilities |
| Creditors: Amounts falling due within one year |
4 |
(17,874) |
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(14,858) |
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| Net current assets |
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24,799 |
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32,466 |
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| Total assets less current liabilities |
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26,774 |
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33,070 |
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| Creditors: Amounts falling due after more than one year |
| Provisions for liabilities and charges |
5 |
(395) |
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(121) |
| Accruals and deferred income |
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- |
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- |
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| Net assets |
26,379 |
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32,949 |
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| Capital and reserves |
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| Called up share capital |
6 |
2,513 |
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2,513 |
| Share premium account |
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99,691 |
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99,691 |
| Profit and loss account |
7 |
(75,825) |
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(69,255) |
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| Shareholders' funds |
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26,379 |
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32,949 |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
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| In accordance with section 476 of the Companies Act 2006 the members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 (within the specified time period). |
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| Company law requires the director to prepare financial statements for each financial period in accordance with Sections 394 and 395 (duty to prepare individual company accounts), which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period and which comply with the provisions of the Companies Act 2006. |
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| The directors are responsible for keeping proper accounting records in accordance with Section 386 and 387 (duty to keep accounting records), which disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act. They are also responsible for safeguarding the assets of the Company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
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| These abbreviated accounts have been extracted from financial statements that have been prepared in accordance with the special provisions relating to small companies within Part XV of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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| Signed on behalf of the Board |
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| ……………………………………………. |
| Director |
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| Print ……………………………………… |
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| Date ……………………………………… |
| 30/09/2014 |
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| Stickyworld Limited |
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| Statement of Accounting Policies |
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| For the year ended 31 March 2014. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements. |
| (a) Basis of accounting |
| These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) under the historical cost convention. |
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| (b) Turnover |
| Turnover consists of non-governmental sources of funding, and invoiced sales net of returns, trade discounts and value added tax, derived from the provision of goods and services. |
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| (c) Depreciation |
| Depreciation has been provided at the following rates in order to write-off the assets over their estimated useful lives. |
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| Computer and office equipment - over 2 to 4 years (straight line) |
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| No depreciation is provided on freehold land. In accordance with SSAP 19 no depreciation is provided in respect of any freehold investment property. This represents a departure from the Companies Act 1985 requirements concerning the depreciation of fixed assets. The company considers that the adoption of this policy is necessary to give a true and fair view. |
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| (d) Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value. Net realisable value is based upon estimated normal selling price less further costs expected to be incurred to completion and disposal. Provision is made where costs are not expected to be fully recoverable. |
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| (e) Current taxation |
| Corporation tax payable is provided on taxable profits at the current rate. |
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| (f) Deferred taxation |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. |
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| A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted. |
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| Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| (g) Research and Development |
| Research expenditure is written off as incurred. Development expenditure is also written off, except where the company is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the group is expected to benefit. |
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| (h) Foreign Currencies |
| Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses on translation are included in the profit and loss account. |
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| (i) Government Grants |
| Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over the estimated useful economics lives of the assets to which they relate. |
| (j) Leases |
| Where the company enters into a lease which entails taking substantially all the risks and rewards of the ownership of an asset, the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such lease, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments. |
| All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease. |
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| Rents receivable on any freehold investment property under the terms of an operating lease are included in the profit and loss account on a receivable basis. |
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| (k) Pension Costs |
| If the company operates a defined contribution pension scheme, its contributions are charged to the profit and loss account for the year or period in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year or period end. |
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| Stickyworld Limited |
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| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2014 |
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| 1. Turnover |
| The company’s turnover and profit before taxation were all derived from its principal activity predominantly within the United Kingdom. |
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| 2. Tangible fixed assets |
Fixtures, fittings and equipment |
| £ |
| Cost or valuation |
| At 01 April 2013 |
886 |
| Additions |
1,893 |
| Disposals |
- |
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| At 31 March 2014 |
2,779 |
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| Depreciation |
| At 01 April 2013 |
282 |
| Disposals |
- |
| Charge for the year |
522 |
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| At 31 March 2014 |
804 |
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| Net book value |
| At 31 March 2014 |
1,975 |
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| At 31 March 2013 |
604 |
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| 3. Debtors |
2014 |
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2013 |
| £ |
£ |
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| Trade debtors |
3,180 |
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6,540 |
| Other debtors |
11,414 |
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9,372 |
| Prepayments and accrued income |
- |
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- |
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14,594 |
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15,912 |
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| Other debtors comprise tax charges made during the year, repayable as at the year end, and short-term loans made to Slider Studio Limited (see note 9), a company related by common control, totalling £6,128 (2013: £4,128) as at the year end. They also comprise short-term loans made during the year to the directors of £5,286 (2013: £5,554) |
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| 4. Creditors: Amounts falling due within one year |
2014 |
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2013 |
| £ |
£ |
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| Trade creditors |
1,174 |
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2,368 |
| Other creditors |
- |
|
12 |
| Taxation and social security costs |
16,700 |
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12,478 |
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17,874 |
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14,858 |
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| Accruals are shown separately on the balance sheet. |
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| 5. Provisions for liabilities and charges |
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Deferred taxation |
| £ |
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| At 01 April 2013 |
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121 |
| Charged/(credited) to profit and loss account |
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|
274 |
| Under/(over) provision in respect of prior periods |
- |
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| At 31 March 2014 |
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395 |
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| Deferred tax is provided as follows: |
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2014 |
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2013 |
| £ |
£ |
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| Accelerated capital allowances |
395 |
|
121 |
| Other timing differences |
- |
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- |
| Tax losses available |
- |
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- |
| Other |
- |
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- |
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| Provision for deferred tax |
395 |
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121 |
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| 6. Called up share capital |
2014 |
|
2013 |
| £ |
£ |
| Allotted, called up and fully paid |
| Ordinary shares of £0.05p each |
2,513 |
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2,513 |
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2,513 |
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2,513 |
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| 7. Reserves |
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Profit and Loss Account |
| £ |
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| As at 01 April 2013 |
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(69,255) |
| Profit/(loss) for the year |
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(6,570) |
| Dividends |
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- |
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| As at 31 March 2014 |
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(75,825) |
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| 8. Ultimate controlling parties |
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| The ultimate controlling party is M Kohn, who owns and controls 72.49% of the issued ordinary share capital of the company. |
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| 9. Related party transactions |
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| Slider Studio Limited |
The company purchases, on normal commercial terms, software services from Slider Studio Limited, a company registered in England number 539 9861, of which Mr M Kohn is a majority shareholder and director, and Mr R Puusepp was a shareholder and director up until 31st March 2014.
The value of such purchases during the financial year ended 31st March 2014 was £7,604 (excluding VAT) [2013: £nil], and the total balance due from/(to) Slider Studio Limited at the end of the period was (£25) [2013: £nil]. |
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| Stickyworld Limited |
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| Report of the Accountants to the Directors of Stickyworld Limited |
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| In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Act 2006, we have compiled the financial statements (and abbreviated accounts) of the company for the year ended 31 March 2014, which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us. |
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| This report is made to the company directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements (and abbreviated accounts) that we have been engaged to compile, report to the company directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company directors, as a body, for our work or for this report. |
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| We have carried out this engagement in accordance with technical guidance issued by the Association of Accounting Technicians and have complied with the ethical guidance laid down by the Association relating to members undertaking the compilation of financial statements. |
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| You have acknowledged on the Balance Sheet as at 31 March 2014 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the period. |
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| We have not been instructed to carry out an audit of the financial statements. 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 financial statements. |
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| Date ……………………………………. |
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| Best4business Accountants & Co. Ltd. |
| Knowledge Dock Business Centre |
| 4-6 University Way |
| London |
| E16 2RD |
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| …………………………………….……. |
| Ramez Mohabaty is licensed and regulated by the Association of Accounting Technicians to provide services in accordance with licence number 1965, details of which are displayed at the address shown above |
