Manifest Information Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03401145 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

MANIFEST INFORMATION SERVICES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T J Clarke

J S Wilson

M Deakin

W M Claxton-Smith

SECRETARY:

P Lawrence

REGISTERED OFFICE:

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

REGISTERED NUMBER:

03401145 (England and Wales)

ACCOUNTANTS:

Baverstocks

Chartered Accountants

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

BANKERS:

Nat West Bank Plc

1 Princes Street

LONDON

EC3P 3AR

FIXED ASSETS

Intangible assets

2

932,094

995,000

Tangible assets

3

2,992

2,480

Investments

4

238,254

1,173,340

1,235,734

CURRENT ASSETS

Debtors

284,346

177,877

Cash at bank and in hand

3,426

45,232

287,772

223,109

CREDITORS

Amounts falling due within one year

1,053,894

765,742

NET CURRENT LIABILITIES

(766,122

)

(542,633

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

407,218

693,101

CREDITORS

Amounts falling due after more than one
year

-

7,200

NET ASSETS

407,218

685,901

CAPITAL AND RESERVES

Called up share capital

5

1,454,616

Share premium

47,084

Revaluation reserve

675,085

750,095

Profit and loss account

(1,769,567

)

(1,565,894

)

SHAREHOLDERS' FUNDS

407,218

685,901

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 23 December 2016 and were signed on its behalf
by:

J S Wilson - 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).

Preparation of consolidated financial statements

The financial statements contain information about Manifest Information Services Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Income recognition

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

Research and voting contract income, with the exception of separately invoiced implementation costs, is treated

initially as Deferred Contract Income (see accounting policy below). It is transferred to the profit and loss

account, in equal instalments, over the life of the contract. Separately invoiced implementation costs are taken

directly to the profit and loss account in the month in which they are invoiced.

All other income is taken directly to the profit and loss account in the month in which invoiced.

Tangible fixed assets

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

Office Equipment and Furniture

-

20% on cost

Computer Equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Intellectual property

Employees of the company are responsible for the development of a database that is used for the provision of

information services. A percentage of the employee's salaries are capitalised to reflect time spent developing the

database. All research and other development costs are written off as incurred.

Amortisation

Amortisation is provided on all intangible assets at rates calculated to write off the cost or valuation, less

estimated residual value, of each asset evenly over its expected useful life. Intangible assets are amortised over

10 years on a straight line basis, to reflect the useful life of the information.

Following the revaluation of the intellectual property on 31 March 2015, the revised revalued amount will be

amortised over 10 years starting from 1 April 2015.

Deferred contract income

As explained in the Income Recognition accounting policy above, all sales invoices raised for term contract

income are treated as deferred income and taken to the balance sheet initially. Income accruing is transferred to

sales in equal instalments over the period of the contract.

Contracts for twelve months or less are treated as a separately disclosed item in creditors - due within one year.

Where contracts are for a period in excess of twelve months, an appropriate proportion would be included in

creditors - amounts falling due after more than one year.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,313,450

Additions

40,660

At 31 March 2016

1,354,110

AMORTISATION

At 1 April 2015

318,450

Amortisation for year

103,566

At 31 March 2016

422,016

NET BOOK VALUE

At 31 March 2016

932,094

At 31 March 2015

995,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

156,047

Additions

2,027

At 31 March 2016

158,074

DEPRECIATION

At 1 April 2015

153,567

Charge for year

1,515

At 31 March 2016

155,082

NET BOOK VALUE

At 31 March 2016

2,992

At 31 March 2015

2,480

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

238,254

NET BOOK VALUE

At 31 March 2016

238,254

At 31 March 2015

238,254

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Manifest Voting Agency Limited

Nature of business: Corporate Governance

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

6,667

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,171,809

Ordinary

£1

1,171,809

172,557

2008 5% Preference

£1

172,557

110,250

Redeemable 10% B Preference

£1

110,250

1,454,616