Area Technologies Limited - Abbreviated accounts 16.3

Area Technologies Limited - Abbreviated accounts 16.3

AREA TECHNOLOGIES LIMITED - Company Information

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REGISTERED NUMBER: 09839441 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 23 OCTOBER 2015 TO 31 DECEMBER 2016

FOR

AREA TECHNOLOGIES LIMITED

AREA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 09839441)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 23 OCTOBER 2015 TO 31 DECEMBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

AREA TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 23 OCTOBER 2015 TO 31 DECEMBER 2016







DIRECTORS: L J Gooch
K J Wheatley





REGISTERED OFFICE: Stapleton House
Block A, 2nd Floor
110 Clifton Street
London
EC2A 4HT





REGISTERED NUMBER: 09839441 (England and Wales)





ACCOUNTANTS: Horizon Accounts Limited
Stapleton House
Block A, 2nd Floor
110 Clifton Street
London
EC2A 4HT
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AREA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 09839441)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2016

Notes £   
CURRENT ASSETS
Debtors 45,819
Cash at bank 24,089
69,908
CREDITORS
Amounts falling due within one year 3,329
NET CURRENT ASSETS 66,579
TOTAL ASSETS LESS CURRENT
LIABILITIES
66,579

CAPITAL AND RESERVES
Called up share capital 2 2,419
Share premium 273,000
Profit and loss account (208,840 )
SHAREHOLDERS' FUNDS 66,579

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 15 February 2017 and were signed on its behalf
by:





K J Wheatley - Director


The notes form part of these abbreviated accounts

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AREA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 09839441)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 23 OCTOBER 2015 TO 31 DECEMBER 2016


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).

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the
period however the balance sheet of the company shows that the company has positive net assets. During the
period, the directors were successful in raising additional share capital which has directly contributed to the cash
balances of the company . The directors therefore have a reasonable expectation that the company has sufficient
resources that will allow the company to meet its obligations, if and when the become due. The directors are
therefore of the opinion that they should adopt the going concern basis of accounting when preparing the
financial statements.

2. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
241,913 Ordinary £0.01 2,419

On incorporation, the company issued 100,003 Ordinary £0.01 shares at par.

On 18 January 2016, the company issued 100,003 Ordinary £0.01 shares for a total consideration of £274,000.

On 16 June 2016, the company issued 41,907 Ordinary £0.01 shares at par as a result of an employee of the
company exercising share options. See note 9 below for further information.

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