Abbreviated Company Accounts - OVFLO LIMITED

NI618727 OVFLO LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true NI618727 2015-04-01 2016-03-31 NI618727 2016-03-31 NI618727 2015-03-31 NI618727 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 NI618727 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-03-31 iso4217:GBP shares

Registered Number NI618727

OVFLO LIMITED

Abbreviated Accounts

31 March 2016

OVFLO LIMITED Registered Number NI618727

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	674,388	413,264
Tangible assets	3	3,374	2,633
		677,762	415,897
Current assets
Debtors		530,085	249,169
Cash at bank and in hand		7,067	39,145
		537,152	288,314
Creditors: amounts falling due within one year		(75,228)	(787,600)
Net current assets (liabilities)		461,924	(499,286)
Total assets less current liabilities		1,139,686	(83,389)
Total net assets (liabilities)		1,139,686	(83,389)
Capital and reserves
Called up share capital	4	114	1
Share premium account		1,273,192	0
Profit and loss account		(133,620)	(83,390)
Shareholders' funds		1,139,686	(83,389)

For the year ending 31 March 2016 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 6 June 2016

And signed on their behalf by:
John Milligan, Director
Neil Taylor, Director

OVFLO LIMITED Registered Number NI618727

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 15% straight line

Other accounting policies
Patents
Patents are valued at cost less accumulated amortisation.

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

2Intangible fixed assets

	£
Cost
At 1 April 2015	413,264
Additions	261,124
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	674,388
Amortisation
At 1 April 2015	-
Charge for the year	-
On disposals	-
At 31 March 2016	-
Net book values
At 31 March 2016	674,388
At 31 March 2015	413,264

3Tangible fixed assets

	£
Cost
At 1 April 2015	3,098
Additions	1,418
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	4,516
Depreciation
At 1 April 2015	465
Charge for the year	677
On disposals	-
At 31 March 2016	1,142
Net book values
At 31 March 2016	3,374
At 31 March 2015	2,633

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
114 Ordinary shares of £1 each (1 share for 2015)	114	1
114 Ordinary shares of £1 each (1 share for 2015)	114	1
114 Ordinary shares of £1 each (1 shares for 2015)	114	1