Ricall Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 03498495

RICALL LIMITED

ABBREVIATED FINANCIAL STATEMENTS

31ST DECEMBER 2015

DALY, HOGGETT & CO.

Chartered Accountants

5-11 Mortimer Street

London

W1T 3HS

RICALL LIMITED

ABBREVIATED BALANCE SHEET

31 December 2015

	2015	2014
Note	£	£	£	£
FIXED ASSETS	2
Tangible assets		1,213		2,880

CURRENT ASSETS

Debtors	46,872		189,951
Cash at bank and in hand	25,337		23,591
	------		-------
	72,209		213,542
CREDITORS: Amounts falling due within one year	449,541		228,762
	-------		-------
NET CURRENT LIABILITIES		( 377,332)		( 15,220)
		-------		------
TOTAL ASSETS LESS CURRENT LIABILITIES		( 376,119)		( 12,340)

CREDITORS: Amounts falling due after more than one year	600,500	602,656
	-------	-------
	( 976,619)	( 614,996)
	-------	-------

CAPITAL AND RESERVES

Called up equity share capital	3		5,019		5,019
Share premium account		1,579,936		1,579,936
Other reserves		135,045		135,045
Profit and loss account		( 2,696,619)		( 2,334,996)
		----------		----------
DEFICIT		( 976,619)		( 614,996)
		----------		----------

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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

These abbreviated accounts were approved by the directors and authorised for issue on 27 September 2016 , and are signed on their behalf by:

Mrs A Corbett

Company Registration Number: 03498495

RICALL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31ST DECEMBER 2015

1. ACCOUNTING POLICIES

(a) Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.

(b) Cash flow statement

The directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.

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

(d) Fixed assets

All fixed assets are initially recorded at cost.

(e) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment- 25% straight line

(f) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

(g) 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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

(h) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1st January 2015 and 31st December 2015	20,982
	------

DEPRECIATION

At 1st January 2015	18,102
Charge for year	1,667
	------
At 31st December 2015	19,769
	------

NET BOOK VALUE

At 31st December 2015	1,213
	-----

At 31st December 2014	2,880
	-----

3. SHARE CAPITAL

Authorised share capital:

	2015	2014
	£	£
500,000,000 Ordinary shares of £ 0.001 each	500,000	500,000
	-------	-------

Allotted, called up and fully paid:

2015	2014
No.	£	No.	£
Ordinary shares of £ 0.001 each	5,018,514	5,019	5,018,514	5,019
	----------	-----	----------	-----

4. ULTIMATE PARENT COMPANY

The company's ultimate holding company is Ricall Inc., a company incorporated in Delaware, USA.