CAB__APP_LIMITED - Accounts

PAYSME LIMITED - Company Information

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Company Registration No. 07435577 (England and Wales)

CAB: APP LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

CAB: APP LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CAB: APP LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

362,574

400,121

Tangible assets

624

936

363,198

401,057

Current assets

Debtors

25,728

38,538

Cash at bank and in hand

8,961

15,877

34,689

54,415

Creditors: amounts falling due within one year

(66,541)

(40,091)

Net current liabilities/(assets)

(31,852)

14,324

Total assets less current liabilities

331,346

415,381

Creditors: amounts falling due after more than one year

(139,046)

(49,046)

192,300

366,335

Capital and reserves

Called up share capital

460,120

Share premium account

191,805

Profit and loss account

(459,625)

(285,590)

Shareholders' funds

192,300

366,335

CAB: APP LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 10 February 2017

D Stewart

Director

Company Registration No. 07435577

CAB: APP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for driver credits on a receipt basis and credit card commissions on a transaction date basis.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

25% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

503,134

3,740

506,874

Additions

13,801

At 31 March 2016

516,935

3,740

520,675

Depreciation

At 1 April 2015

103,013

2,804

105,817

Charge for the year

51,348

312

51,660

At 31 March 2016

154,361

3,116

157,477

Net book value

At 31 March 2016

362,574

624

363,198

At 31 March 2015

400,121

936

401,057

CAB: APP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

12,000 Ordinary shares of 1p each

120

460,000 Preference shares of £1 each

460,000

460,120