Twigkit Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06956646 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

TWIGKIT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S Olafsson

B Holm

J Gilligan

P Little

A Usherwood

REGISTERED OFFICE:

20 Station Road

Cambridge

CB1 2JD

REGISTERED NUMBER:

06956646 (England and Wales)

ACCOUNTANT:

Ewing Accounts Ltd

Chilcompton

Green Lane

Aspley Guise

Bedfordshire

MK17 8EN

CURRENT ASSETS

Debtors

412,759

372,887

Cash at bank

1,432,999

85,636

1,845,758

458,523

CREDITORS

Amounts falling due within one year

(793,990

)

(239,998

)

NET CURRENT ASSETS

1,051,768

218,525

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,051,768

218,525

CAPITAL AND RESERVES

Called up share capital

2

2,887

2,000

Share premium

999,413

-

Profit and loss account

49,468

216,525

SHAREHOLDERS' FUNDS

1,051,768

218,525

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 19 September 2016 and were signed on its behalf by:

S Olafsson - 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 software licences and related 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.

Deferred tax

Deferred tax is recognised in respect of all 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.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1,000

A Preference

£1

300

1,000

B Preference

£1

1,000

-

100,000

A Ordinary

1p

1,000

58,700

B Ordinary

1p

587

-

2,887

2,000

Shares were issued during the year as follows:

Cash at par

1,000 B Preference shares of £1 for £ 1,000

Cash at premium

58,700 B Ordinary shares of 1p for £1000000

On 5th November 2015 700 A Preference shares were redeemed at par.

The company introduced an EMI share option scheme for staff in November 2015 using a new class of C ordinary 1 pence

shares.