Company Registration No. 05366759 (England and Wales)
Delipod Ltd
Abbreviated unaudited accounts
for the year ended 29 February 2016
Delipod Ltd
Abbreviated Balance Sheet
as at 29 February 2016
Tangible assets
1,932
3,086
Cash at bank and in hand
16
155
Creditors: amounts falling due within one year
(349,055)
(317,899)
Net current liabilities
(327,069)
(303,845)
Net liabilities
(324,137)
(300,759)
Called up share capital
1,000
1,000
Profit and loss account
(325,137)
(301,759)
Total shareholders' funds
(324,137)
(300,759)
For the year ending 29 February 2016 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 28 November 2016
Peter Howson
Director
Company Registration No. 05366759
Delipod Ltd
Notes to the Abbreviated Accounts
for the year ended 29 February 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Going concern basis of accounting: At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that he will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Website costs which have been capitalised will be amortised over 5 years once the website is available for use.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Delipod Ltd
Notes to the Abbreviated Accounts
for the year ended 29 February 2016
2
Intangible fixed assets
Other
The addition to intangible fixed assets is in respect of the costs of developing a website for the business. This website will have the facility whereby orders can be placed and therefore generate sales. It is expected that the level of these sales will exceed the costs associated with developing the website.
The website is in the process of being tested and the asset will be amortised over its useful economic life once the website is available for use.
3
Tangible fixed assets
Plant & machinery
At 29 February 2016
26,791
At 29 February 2016
24,859
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
