PHANTOM_LIMITED - Accounts

MOVING INTELLIGENCE LTD - Company Information

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Company Registration No. 04375260 (England and Wales)

PHANTOM LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

PHANTOM LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

PHANTOM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

250

1,500

Tangible assets

1,071,041

1,057,761

1,071,291

1,059,261

Current assets

Stocks

42,779

38,000

Debtors

232,928

172,761

Cash at bank and in hand

659,979

690,758

935,686

901,519

Creditors: amounts falling due within one year

(820,723)

(870,874)

Net current assets

114,963

30,645

Total assets less current liabilities

1,186,254

1,089,906

Creditors: amounts falling due after more than one year

(338,135)

(361,592)

Provisions for liabilities

(8,169)

(5,011)

Accruals and deferred income

(330,385)

(328,483)

509,565

394,820

Capital and reserves

Called up share capital

10,000

Profit and loss account

499,565

384,820

Shareholders' funds

509,565

394,820

PHANTOM LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 NOVEMBER 2015

- 2 -

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 August 2016

Mr Stephen J Cherry

Director

Company Registration No. 04375260

PHANTOM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents both amounts receivable for goods and services sold net of VAT and trade discounts and subscription income apportioned over the life of the airtime contract.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years . of 5 years.

1.5

Patents

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 10 & 7 years.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

NIL

Plant and machinery

Over 10 years

Computer equipment

25% straight line

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

PHANTOM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

Accounting policies

(Continued)

- 4 -

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 December 2014

9,498

1,159,451

1,168,949

Additions

32,867

At 30 November 2015

9,498

1,192,318

1,201,816

Depreciation

At 1 December 2014

7,998

101,690

109,688

Charge for the year

1,250

19,587

20,837

At 30 November 2015

9,248

121,277

130,525

Net book value

At 30 November 2015

250

1,071,041

1,071,291

At 30 November 2014

1,500

1,057,761

1,059,261

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

158,340

Total amounts repayable by instalments which are due in more than five years

53,993

77,450

The aggregate amount of creditors for which security has been given amounted to £211,245 (2014 - £234,702).

PHANTOM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

4,700 Ordinary A shares of £1 each

4,700

4,700 Ordinary B shares of £1 each

4,700

600 Ordinary shares of £1 each

600

10,000