Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

GENIE COMPUTING LTD - Company Information

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GENIE COMPUTING LTD

Company Registration Number:
05751350 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

GENIE COMPUTING LTD

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 2 16,589 17,458
Total fixed assets: 16,589 17,458
Current assets
Stocks: 4,350 3,489
Debtors: 9,856 6,617
Cash at bank and in hand: 3,325 1,954
Total current assets: 17,531 12,060
Creditors: amounts falling due within one year: ( 12,091 ) ( 7,489 )
Net current assets (liabilities): 5,440 4,571
Total assets less current liabilities: 22,029 22,029
Total net assets (liabilities): 22,029 22,029

The notes form part of these financial statements

GENIE COMPUTING LTD

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 3 100 100
Profit and loss account: 21,929 21,929
Shareholders funds: 22,029 22,029

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 and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 01 May 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Daryl Hickman
Status: Director

The notes form part of these financial statements

GENIE COMPUTING LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and m accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period exclusive of Value Added Tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking in account of any grants receivable at the following annual rates in order to write off each asset over its estimated useful life Plant and Machinery- 15% on cost, Fixtures and fittings- I0% on cost

    Intangible fixed assets amortisation policy

    Intangible fixed assets have been amortised at rates calculated to write off the assets on a straight basis over the estimated useful economic lives. The intangible assets were fully ammortised in 2012.

    Valuation information and policy

    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.

GENIE COMPUTING LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Tangible assets

    Total
    Cost £
    01 April 2015: 17,458
    Additions: 0
    Disposals: ( 369 )
    Revaluations: 0
    Transfers: 0
    31 March 2016: 17,089
    Depreciation
    01 April 2015: 0
    Charge for year: 500
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 500
    Net book value
    31 March 2016: 16,589
    31 March 2015: 17,458

GENIE COMPUTING LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100