Mosaic Online Systems Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 05248631 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31st March 2016

for

MOSAIC ONLINE SYSTEMS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

N Fleming-Smith

M Arnold

Mrs K Fleming-Smith

SECRETARY:

N Fleming-Smith

REGISTERED OFFICE:

A1 Yeoman Gate

Yeoman Way

Worthing

West Sussex

BN13 3QZ

REGISTERED NUMBER:

05248631 (England and Wales)

ACCOUNTANTS:

MastersFuller

Chartered Certified Accountants

38 Salisbury Road

Worthing

West Sussex

BN11 1RD

FIXED ASSETS

Tangible assets

2

1,128,154

1,210,547

CURRENT ASSETS

Debtors

1,057,674

1,011,456

Cash at bank

1,242,255

1,008,174

2,299,929

2,019,630

CREDITORS

Amounts falling due within one year

350,618

449,419

NET CURRENT ASSETS

1,949,311

1,570,211

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,077,465

2,780,758

PROVISIONS FOR LIABILITIES

87,199

99,727

NET ASSETS

2,990,266

2,681,031

CAPITAL AND RESERVES

Called up share capital

3

200

Profit and loss account

2,990,066

2,680,831

SHAREHOLDERS' FUNDS

2,990,266

2,681,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 16th December 2016 and were signed on its behalf
by:

N Fleming-Smith - 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

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Short leasehold

-

over the term of the lease

Office equipment

-

25% on cost

Computer equipment

-

25% on cost

Freehold property is used in the trade and constantly maintained to a high standard. The expected useful life of

the building exceeds 50 years and no depreciation is provided on freehold property on the basis that, in the

opinion of the director, the property's expected future residual value is significantly more than the value shown in

the financial statements. In this respect the company does not comply with Financial Reporting Standard for

Smaller Entities (effective April 2008) and the Companies Act 2006 but this departure is necessary in order to

show a true and fair view.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

1,671,528

Additions

223,267

Disposals

(203,047

)

At 31st March 2016

1,691,748

DEPRECIATION

At 1st April 2015

460,981

Charge for year

294,618

Eliminated on disposal

(192,005

)

At 31st March 2016

563,594

NET BOOK VALUE

At 31st March 2016

1,128,154

At 31st March 2015

1,210,547

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary

£1

200