About Time Design Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 05319147

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

ABOUT TIME DESIGN LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J W Barnham

M C Stoddart

Mrs K S Saunders

J L Seccombe

D Stacey

REGISTERED OFFICE:

26 Church Street

Bishop's Stortford

Hertfordshire

CM23 2LY

REGISTERED NUMBER:

05319147

ACCOUNTANTS:

Morris Wheeler & Co Limited

Chartered Accountants

26 Church Street

Bishop's Stortford

Hertfordshire

CM23 2LY

FIXED ASSETS

Intangible assets

2

91,261

92,246

Tangible assets

3

44

17

Investments

4

24,001

115,306

116,264

CURRENT ASSETS

Stocks

31,356

19,038

Debtors

5

12,049

13,974

Cash at bank

24,985

40,295

68,390

73,307

CREDITORS

Amounts falling due within one year

1,476

951

NET CURRENT ASSETS

66,914

72,356

TOTAL ASSETS LESS CURRENT
LIABILITIES

182,220

188,620

CAPITAL AND RESERVES

Called up share capital

6

2,758

Share premium

766,936

Revaluation reserve

51,250

Profit and loss account

(638,724

)

(632,324

)

SHAREHOLDERS' FUNDS

182,220

188,620

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 13 September 2016 and were signed on
its behalf by:

M C Stoddart - Director

Mrs K S Saunders - Director

J L Seccombe - Director

D Stacey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about About Time Design Ltd as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Turnover

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

Patents and licenses

Patents are being written off over their estimated economic life, which is 20 years and trademarks over

10 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

-

20% on cost

Equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

139,198

Additions

6,978

At 31 December 2015

146,176

AMORTISATION

At 1 January 2015

46,952

Amortisation for year

7,963

At 31 December 2015

54,915

NET BOOK VALUE

At 31 December 2015

91,261

At 31 December 2014

92,246

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

146,425

Additions

41

At 31 December 2015

146,466

DEPRECIATION

At 1 January 2015

146,408

Charge for year

14

At 31 December 2015

146,422

NET BOOK VALUE

At 31 December 2015

44

At 31 December 2014

17

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

24,001

NET BOOK VALUE

At 31 December 2015

24,001

At 31 December 2014

24,001

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Flowban Ltd

Nature of business: Marketing and sale of plumbing services

%

Class of shares:

holding

Ordinary

60.00

31.12.15

31.12.14

£

Aggregate capital and reserves

(6,955

)

(6,553

)

(Loss)/profit for the year

(402

)

15,765

Nova-Flo Limited

Country of incorporation: England & Wales

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

1

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 7,000 (31.12.14 - £ 7,600 )

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

50,000

Ordinary

1p

500

225,838

'A' Ordinary 1p shares

1p

2,258

2,758

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr M Stoddart by virtue of his majority shareholding in the company.

8.

WARRANTS

The Company has issued Warrants over 8,826 A Ordinary shares. These were exercisable from 1

January 2010 at £0.01.