RBT 247 Systems Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08539908 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 JUNE 2015 TO 30 JUNE 2016

FOR

RBT 247 SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs C L Brander

N A Swan

G Brynjolfsson

REGISTERED OFFICE:

The Die-Pat Centre

Broad March

Daventry

Northamptonshire

NN11 4HE

REGISTERED NUMBER:

08539908 (England and Wales)

ACCOUNTANTS:

Rochesters Audit Services Limited

No. 3 Caroline Court

13 Caroline Street

St. Paul's Square

Birmingham

West Midlands

B3 1TR

FIXED ASSETS

Intangible assets

2

62,524

-

CURRENT ASSETS

Debtors

8,531

1

CREDITORS

Amounts falling due within one year

241,819

-

NET CURRENT (LIABILITIES)/ASSETS

(233,288

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(170,764

)

1

CAPITAL AND RESERVES

Called up share capital

3

100

1

Profit and loss account

(170,864

)

-

SHAREHOLDERS' FUNDS

(170,764

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 28 March 2017 and were signed on its behalf by:

Mrs C L Brander - 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). Whilst the company had net

liabilities at the balance sheet date, the company's parent undertaking, which is also the major creditor, has

expressed its intention to support the company for the foreseeable future and hence the Directors consider the

going concern basis to still be appropriate in preparation of the financial statements.

Research and development

Costs in respect of the research and development of new application systems are capitalised where there is

expected to be future economic benefits derived from those specific costs. Ongoing research costs which are not

capitalised are expensed direct through the profit and loss account. Capitalised costs are amortised over their

expected useful life, once the application systems are in use and generating revenue. No amortisation is made

until the systems are in use, though the Directors assess the amount capitalised on a regular basis to ascertain if

any impairment has occurred in the asset value.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

62,524

At 30 June 2016

62,524

NET BOOK VALUE

At 30 June 2016

62,524

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

NIL

Ordinary

£1

-

1

75

A Ordinary

£1

75

-

25

B Ordinary

£1

25

-

100

1

During the period, 99 Ordinary shares of £1 each were allotted and fully paid for in cash at par. The Ordinary

shares were subsequently divided into 75 A Ordinary shares of £1 each and 25 B Ordinary shares of £1 each.

4.	ULTIMATE PARENT COMPANY

Residual Barrier Technology Ltd. is regarded by the directors as being the company's ultimate parent company.