CALLOUT.TEL LTD - Period Ending 2015-12-31

Registration number: 08338607

CALLOUT.TEL LTD

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

GPC Financial Management Ltd
5 Fitzhardinge Street
London
W1H 6ED

CALLOUT.TEL LTD
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CALLOUT.TEL LTD
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CALLOUT.TEL LTD for the year ended 31 December 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants , we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.

This report is made solely to the Board of Directors of CALLOUT.TEL LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CALLOUT.TEL LTD and state those matters that we have agreed to state to them, as a body, in this report in accordance with . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CALLOUT.TEL LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CALLOUT.TEL LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CALLOUT.TEL LTD. You consider that CALLOUT.TEL LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CALLOUT.TEL LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

GPC Financial Management Ltd
5 Fitzhardinge Street
London
W1H 6ED

30 September 2016

Page 1

CALLOUT.TEL LTD
(Registration number: 08338607)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,070			3,415
Current assets
Debtors					29,916			23,501
Cash at bank and in hand					5,771			4,987
					35,687			28,488
Creditors: Amounts falling due within one year					(36,657)			(31,512)
Net current liabilities					(970)			(3,024)
Net assets					100			391
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					-			291
Shareholders' funds					100			391

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 September 2016 and signed on its behalf by:

.........................................
Mr Gareth David WAX
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

CALLOUT.TEL LTD
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer Equipment	33%

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

CALLOUT.TEL LTD
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		2,000			7,106			9,106
At 31 December 2015		2,000			7,106			9,106
Depreciation
At 1 January 2015		2,000			3,691			5,691
Charge for the year		-			2,345			2,345
At 31 December 2015		2,000			6,036			8,036
Net book value
At 31 December 2015		-			1,070			1,070
At 31 December 2014		-			3,415			3,415

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4