GLOBAL_VOICES_LTD. - Accounts

GLOBAL VOICES LTD. - Company Information

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Company Registration No. SC270103 (Scotland)

GLOBAL VOICES LTD.

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

GLOBAL VOICES LTD.

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

GLOBAL VOICES LTD.

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

11,000

Tangible assets

775,335

758,170

Investments

102

786,437

758,170

Current assets

Debtors

708,379

637,824

Cash at bank and in hand

1,174,306

544,477

1,882,685

1,182,301

Creditors: amounts falling due within one year

(878,360)

(666,159)

Net current assets

1,004,325

516,142

Total assets less current liabilities

1,790,762

1,274,312

Provisions for liabilities

(1,262)

Accruals and deferred income

(28,333)

(39,808)

1,761,167

1,233,242

Capital and reserves

Called up share capital

502

Profit and loss account

1,760,665

1,232,740

Shareholders' funds

1,761,167

1,233,242

GLOBAL VOICES LTD.

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2016

- 2 -

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 31 March 2017

Mr L Koechlin

Director

Company Registration No. SC270103

GLOBAL VOICES LTD.

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 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 goods and services net of VAT and trade discounts.

1.4

Domain Name

Intangible Assets are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful life of 2 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings Freehold

2% Straight line

Computer equipment

33% Reducing balance

Fixtures, fittings & equipment

33% Reducing balance

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

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.

GLOBAL VOICES LTD.

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 July 2015

841,084

Additions

101,000

49,906

102

151,008

At 30 June 2016

101,000

890,990

102

992,092

Depreciation

At 1 July 2015

82,915

Charge for the year

90,000

32,740

122,740

At 30 June 2016

90,000

115,655

205,655

Net book value

At 30 June 2016

11,000

775,335

102

786,437

At 30 June 2015

758,170

During the year Global Voices Limited acquired 100% of the shares in London Translations Limited. The profit for the year ended 30 June 2016 is £57,455 and the reserves held were (£7,574).

Share capital

2016

2015

Allotted, called up and fully paid

502 Ordinary of £1 each

502