Accounts filed on 31-08-2016
Accounts filed on 31-08-2016
trueGalaxkey Limited073385972016-08-31-231969-84186-176474-586911031025539225393-176474-586919465335075-81821-23616-134653-1086511360341163371381768688547249672145283285035478438503549890Basis of accounting
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).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Product development costThe direct costs associated with the development of encryption software are capitalised as intangible fixed asset and will be amortised over its expected useful life.Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Product Development Cost - Over 3 years
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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
1265771265777873441542371924989049891315661265774989787344154237192Ordinary103020.01103102Ordinary0.0110310210302Ordinary0.01102130000During the year the company issued 102 fully paid up shares of £0.01 each at a premium of £294 per share. 2017-04-08Mr R J Shindetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGalaxkey Limited2015-09-012016-08-31Galaxkey Limited2014-09-012015-08-31Galaxkey Limited2014-08-31Galaxkey Limited2015-08-31Galaxkey Limited2015-08-31Galaxkey Limited2016-08-31 2017-04-19
