Abbreviated Company Accounts - EXTREMIS TECHNOLOGY LIMITED

EXTREMIS TECHNOLOGY LIMITED - Company Information

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Registered Number 07133802

EXTREMIS TECHNOLOGY LIMITED

Abbreviated Accounts

31 January 2016

EXTREMIS TECHNOLOGY LIMITED Registered Number 07133802

Abbreviated Balance Sheet as at 31 January 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	21,359	13,113
Tangible assets	3	755	188
		22,114	13,301
Current assets
Debtors		36,726	28,891
Cash at bank and in hand		80,997	3,104
		117,723	31,995
Creditors: amounts falling due within one year		(38,327)	(9,851)
Net current assets (liabilities)		79,396	22,144
Total assets less current liabilities		101,510	35,445
Creditors: amounts falling due after more than one year		(75,000)	(75,000)
Total net assets (liabilities)		26,510	(39,555)
Capital and reserves
Called up share capital	4	1,319	1,095
Share premium account		608,562	277,905
Profit and loss account		(583,371)	(318,555)
Shareholders' funds		26,510	(39,555)

For the year ending 31 January 2016 the company was entitled to exemption 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.

Approved by the Board on 20 August 2016

And signed on their behalf by:
Mark Aspinall, Director

EXTREMIS TECHNOLOGY LIMITED Registered Number 07133802

Notes to the Abbreviated Accounts for the period ended 31 January 2016

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 total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activitie

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings
and equipment - 33% reducing balance

Intangible assets amortisation policy
Where patent expenditure is capitalised, it is amortised in accordance with the expected term of the income streams. Amortisation does not commence until the income from the relevant project companies begins.

Other accounting policies
Secured Convertible loan of £75k. This is secured by way of a debenture on the company`s assets. Repayment term 3 years.

2Intangible fixed assets

	£
Cost
At 1 February 2015	13,113
Additions	8,246
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2016	21,359
Amortisation
At 1 February 2015	-
Charge for the year	-
On disposals	-
At 31 January 2016	-
Net book values
At 31 January 2016	21,359
At 31 January 2015	13,113

3Tangible fixed assets

	£
Cost
At 1 February 2015	280
Additions	939
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2016	1,219
Depreciation
At 1 February 2015	92
Charge for the year	372
On disposals	-
At 31 January 2016	464
Net book values
At 31 January 2016	755
At 31 January 2015	188

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
4,333,339 Ordinary shares of £0.00001 each (0 shares for 2015)	43	0
4,656,757 B Ordinary shares of £0.00001 each (0 shares for 2015)	47	0
12,287,267 A Ordinary shares of £0.00001 each (1,095 shares for 2015)	123	0

4,333,339 Ordinary A shares £0.0001 were issued in the year for £0.015 each. 4,656,757 Ordinary B shares £0.0001 were issued in the year for £0.015 each.

5Transactions with directors

Name of director receiving advance or credit:	D Hopkins
Description of the transaction:	Movement in the year
Balance at 1 February 2015:	£ 15,000
Advances or credits made:	-
Advances or credits repaid:	-
Balance at 31 January 2016:	£ 15,000

Name of director receiving advance or credit:	J Glenn
Description of the transaction:	Movement in the year
Balance at 1 February 2015:	-
Advances or credits made:	£ 204
Advances or credits repaid:	-
Balance at 31 January 2016:	£ 204

M Aspinall, director and shareholder of Thurton Ethical Investments Ltd received £19,221, (2015, £16,500) from Extremis Technology Ltd for consultancy services in the year. The amount owed to Thurton Etihcal Investments Ltd as at the year end amount to £673, (2015, £4, 800). This is included in trade creditors.