Nimbus Applications Limited - Limited company accounts 11.4

REGISTERED NUMBER: SC416317 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 28 February 2014

for

Nimbus Applications Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

R C Bruce

REGISTERED OFFICE:

Cowan & Partners

60 Constitution Street

Leith

Edinburgh

MIDLOTHIAN

EH6 6RR

REGISTERED NUMBER:

SC416317 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

The director presents his report with the financial statements of the company for the year ended 28 February 2014.

DIRECTOR

R C Bruce held office during the whole of the period from 1 March 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

R C Bruce - Director

4 November 2014

TURNOVER

159,797

76,096

Cost of sales

69,930

44,604

GROSS PROFIT

89,867

31,492

Administrative expenses

36,653

11,520

53,214

19,972

Other operating income

320

-

OPERATING PROFIT

2

53,534

19,972

Interest payable and similar charges

251

358

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

53,283

19,614

Tax on profit on ordinary activities

3

10,892

3,879

PROFIT FOR THE FINANCIAL YEAR

42,391

15,735

FIXED ASSETS

Tangible assets

5

1,729

1,541

CURRENT ASSETS

Debtors

6

33,237

23,877

Cash at bank

11,833

13,124

45,070

37,001

CREDITORS

Amounts falling due within one year

7

36,297

27,930

NET CURRENT ASSETS

8,773

9,071

TOTAL ASSETS LESS CURRENT LIABILITIES

10,502

10,612

CREDITORS

Amounts falling due after more than one year

8

-

688

NET ASSETS

10,502

9,924

CAPITAL AND RESERVES

Called up share capital

9

100

100

Profit and loss account

10

10,402

9,824

SHAREHOLDERS' FUNDS

10,502

9,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 4 November 2014 and were signed by:

R C Bruce - 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 services, excluding value added tax. The company's policy is to recognise a sale

when the company obtains the right to consideration.

Tangible fixed assets

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

Computer equipment

-

33.33% on cost

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.	OPERATING PROFIT

The operating profit is stated after charging:

Period

6.2.12

Year Ended

to

28.2.14

28.2.13

£

£

Depreciation - owned assets

1,250

770

Director's remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

Period

6.2.12

Year Ended

to

28.2.14

28.2.13

£

£

Current tax:

UK corporation tax

10,892

3,879

Tax on profit on ordinary activities

10,892

3,879

4.

DIVIDENDS

Period

6.2.12

Year Ended

to

28.2.14

28.2.13

£

£

Ordinary shares of 1 each

Interim

41,813

5,911

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2013

2,311

Additions

1,438

At 28 February 2014

3,749

DEPRECIATION

At 1 March 2013

770

Charge for year

1,250

At 28 February 2014

2,020

NET BOOK VALUE

At 28 February 2014

1,729

At 28 February 2013

1,541

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.14

28.2.13

£

£

Trade debtors

33,137

23,325

VAT

-

552

Prepayments

100

-

33,237

23,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.14

28.2.13

£

£

Bank loans and overdrafts

1,826

1,179

Trade creditors

12,591

21,701

Tax

10,891

3,879

VAT

10,204

-

Other creditors

-

421

Accrued expenses

785

750

36,297

27,930

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.14

28.2.13

£

£

Bank loans - 1-2 years

-

688

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Profit

and loss

account

£

At 1 March 2013

9,824

Profit for the year

42,391

Dividends

(41,813

)

At 28 February 2014

10,402

11.	RELATED PARTY DISCLOSURES

R C Bruce

Director

During the period under review the director paid £7,853 (2013: £3,637) expenses personally while withdrawing £7,853

(2013: £3,637) from the company. In addition, a dividend was paid of £41,813 (2013: £5,911).

There was no balance outstanding at the period end (2013: £NIL).