Organica Limited - Period Ending 2016-03-31

Registration number: 06405934

Organica Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

V&A Vigar & Co LLP
Chartered Accountants and Chartered Tax Advisers
C/O Stoneygate House
2 Greenfield Road
Holmfirth
HD9 2JT

Organica Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Organica Limited
(Registration number: 06405934)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Current assets
Debtors					2,336			2,336
Cash at bank and in hand					458			12
					2,794			2,348
Creditors: Amounts falling due within one year					(19,745)			(779)
Total assets less current liabilities					(16,951)			1,569
Creditors: Amounts falling due after more than one year					(50,732)			(50,733)
Net liabilities					(67,683)			(49,164)
Capital and reserves
Called up share capital		3			15			15
Profit and loss account					(67,698)			(49,179)
Shareholders' deficit					(67,683)			(49,164)

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 27 December 2016 and signed on its behalf by:

.........................................
Dr S Shokooh
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Organica Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

At the year end the Company had net liabilities of £49,164. A Director has amounts owing to him which total £50,733 at the year end. He has agreed that these amounts will not be repaid until such time as the Company has adequate funds available to allow it to pay its other debts as they fall due. On this basis the Director believes that it is appropriate to draw up these financial statements on the going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Organica Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		850			850
At 31 March 2016		850			850
Depreciation
At 1 April 2015		850			850
At 31 March 2016		850			850
Net book value
At 31 March 2016		-			-
At 31 March 2015		-			-

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		15			15			15			15

4	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Dr S Shokooh (Director) Included in other creditors over one year are amounts due to the Director arising from wages and expenses paid on behalf of the company not yet being drawn by him. At the balance sheet date the amount due to Dr S Shokooh was £69,667 (2015 - £50,733).

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