The R&D Factory Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04820309 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2014

for

THE R&D FACTORY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J P Heaton Esq.

SECRETARY:

J P Heaton Esq.

REGISTERED OFFICE:

5 Verlynch Cottages

Longstock

Stockbridge

Hampshire

SO20 6DX

REGISTERED NUMBER:

04820309 (England and Wales)

ACCOUNTANTS:

Walji & Co Private Clients Limited

Prospect House

50 Leigh Road

Eastleigh

Hampshire

SO50 9DT

FIXED ASSETS

Intangible assets

2

49,309

41,604

Tangible assets

3

3,893

4,948

53,202

46,552

CURRENT ASSETS

Debtors

36,857

45,238

Cash at bank and in hand

9,847

3,646

46,704

48,884

CREDITORS

Amounts falling due within one year

14,074

11,834

NET CURRENT ASSETS

32,630

37,050

TOTAL ASSETS LESS CURRENT LIABILITIES

85,832

83,602

CAPITAL AND RESERVES

Called up share capital

4

160

151

Share premium

522,790

452,780

Profit and loss account

(437,118

)

(369,329

)

SHAREHOLDERS' FUNDS

85,832

83,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 October 2014 and were signed by:

J P Heaton Esq. - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

33% on cost

Deferred tax

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

at the balance sheet date.

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.

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.

Going concern

Following further private investment The Directors consider that sufficient funds are now available

to complete the commercialisation of the company's award winning technology "Streamoulding"

and move this through into further sales in accordance with the company's business plan. The

directors therefore consider that the company will remain a going concern for the foreseeable

future.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

41,604

Additions

7,705

At 31 July 2014

49,309

NET BOOK VALUE

At 31 July 2014

49,309

At 31 July 2013

41,604

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

21,463

DEPRECIATION

At 1 August 2013

16,515

Charge for year

1,055

At 31 July 2014

17,570

NET BOOK VALUE

At 31 July 2014

3,893

At 31 July 2013

4,948

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

16,019

Ordinary

1p

160

151

916 Ordinary shares of 1p each were allotted as fully paid at a premium of £76.43 per share during

the year.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2014 and

31 July 2013:

31.7.14

31.7.13

£

£

J P Heaton Esq.

Balance outstanding at start of year

1,000

-

Amounts advanced

3,750

1,000

Amounts repaid

(3,500

)

-

Balance outstanding at end of year

1,250

1,000

P Woodworth Esq.

Balance outstanding at start of year

146

-

Amounts advanced

-

146

Amounts repaid

(146

)

-

Balance outstanding at end of year

-

146

6.	ULTIMATE CONTROLLING PARTY

There is no controlling party.