Isotropic Systems Ltd - Abbreviated accounts 16.1

Isotropic Systems Ltd - Abbreviated accounts 16.1

ALL.SPACE NETWORKS LIMITED - Company Information

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REGISTERED NUMBER: 08706503 (England and Wales)















ISOTROPIC SYSTEMS LTD

Abbreviated unaudited accounts

for the period 1 October 2014 to 31 December 2015






ISOTROPIC SYSTEMS LTD (REGISTERED NUMBER: 08706503)

Contents of the abbreviated accounts
for the Period 1 October 2014 to 31 December 2015










Page

Company information 1

Abbreviated balance sheet 2

Notes to the abbreviated accounts 3

ISOTROPIC SYSTEMS LTD

Company information
for the Period 1 October 2014 to 31 December 2015







Directors: R Dooner
J Finney
Prof Y Hao





Registered office: 20-22 Wenlock Road
London
N1 7GU





Registered number: 08706503 (England and Wales)





Accountants: DSJ Partners (UK) Limited
1 Bell Street
2nd Floor
London
NW1 5BY
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ISOTROPIC SYSTEMS LTD (REGISTERED NUMBER: 08706503)

Abbreviated balance sheet
31 December 2015

2015 2014
Notes £    £   
Current assets
Debtors 1,332 -
Cash at bank and in hand 489,849 10
491,181 10
Creditors
Amounts falling due within one year (3,000 ) -
Net current assets 488,181 10
Total assets less current liabilities 488,181 10

Capital and reserves
Called up share capital 2 16 10
Share premium 599,996 -
Profit and loss account (111,831 ) -
Shareholders' funds 488,181 10

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

The members have not required the company to obtain an audit of its financial statements for the period 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 11 August 2016 and were signed on its behalf by:





J Finney - Director


The notes form part of these abbreviated accounts

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ISOTROPIC SYSTEMS LTD (REGISTERED NUMBER: 08706503)

Notes to the abbreviated accounts
for the Period 1 October 2014 to 31 December 2015


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).

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Research and development
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred. Development
expenditure is capitalised when the criteria for recognising an asset are met.

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: £    £   
NIL Ordinary £1 - 10
11,724 Ordinary. 0.001 p 12 -
12 10

Allotted and issued:
Number: Class: Nominal 2015 2014
value: £    £   
4,310 Preference 0.001 p 4 -

In July 2015 10 Ordinary shares with a par value of £1.00 per share were subdivided into 10,000 ordinary shares at £0.001p per share.
Following the conversion 1,724 ordinary shares were alloted at par. Also 4,310 Preference shares with a par value of £0.001p were
alloted at £139.211137 per share.

Both Ordinary and Preference shares carry one right to vote each at shareholder meetings. Preference shares rank pari passu with
Ordinary shares for dividend. However, Preference shares have priority over Ordinary shares for payment of an amount equal to the
subscription price plus accrued dividends on a liquidation, capital reduction or similar transaction and on a share sale which gives a third
party controlling interest.

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