Insideout Technology Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06611436 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Insideout Technology Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J J D Wilkin

Mr A R Hazell

REGISTERED OFFICE:

The Old School House

3a Leckhampton Road

Cheltenham

Gloucestershire

GL53 0AX

REGISTERED NUMBER:

06611436 (England and Wales)

FIXED ASSETS

Tangible assets

2

5,299

-

CURRENT ASSETS

Debtors

12,717

12,358

Cash at bank

48,199

12,819

60,916

25,177

CREDITORS

Amounts falling due within one year

45,553

25,043

NET CURRENT ASSETS

15,363

134

TOTAL ASSETS LESS CURRENT
LIABILITIES

20,662

134

PROVISIONS FOR LIABILITIES

1,060

-

NET ASSETS

19,602

134

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

19,502

34

SHAREHOLDERS' FUNDS

19,602

134

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 26 September 2016 and were signed on its behalf
by:

Mr J J D Wilkin - Director

Mr A R Hazell - 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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts

for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

7,065

At 31 December 2015

7,065

DEPRECIATION

Charge for year

1,766

At 31 December 2015

1,766

NET BOOK VALUE

At 31 December 2015

5,299

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100