OYBike Systems Ltd - Abbreviated accounts

OYBIKE SYSTEMS LIMITED - Company Information

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Registered number

04942323

OYBike Systems Ltd

Abbreviated Accounts

31 December 2013

Aspens Limited

Chartered Accountants

Suite F9

Waterside Business Centre

North Street, Lewes, East Sussex

BN7 2PE

OYBike Systems Ltd
Registered number:		04942323
Abbreviated Balance Sheet
as at 31 December 2013

Notes			2013			2012
£				£
Fixed assets
Intangible assets			-			481,187
Tangible assets			-			2,114
			-			483,301

Current assets
Stocks		-			52,832
Debtors		-			80,662
Cash at bank and in hand		184,774			462,214
		184,774			595,708

Creditors: amounts falling due within one year		(157,808)			(320,202)

Net current assets			26,966			275,506

Total assets less current liabilities			26,966			758,807

Creditors: amounts falling due after more than one year			(2,639,731)			(3,174,234)



Net liabilities			(2,612,765)			(2,415,427)

Capital and reserves
Called up share capital	2		380			380
Share premium			369,743			369,743
Profit and loss account			(2,982,888)			(2,785,550)

Shareholders' funds			(2,612,765)			(2,415,427)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Bernard Gouy
Director
Approved by the board on 13 May 2014

OYBike Systems Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2013

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			33.3% straight line
	Motor vehicles			33.3% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Share capital	Nominal		2013		2013		2012
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		380		380		380