Symbiotics Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03242262 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2014

for

Symbiotics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs N C Heath

Mr L Garside-Beattie

REGISTERED OFFICE:

Manor Farmhouse

Little Washbourne

Tewkesbury

Gloucestershire

GL20 8NQ

REGISTERED NUMBER:

03242262 (England and Wales)

FIXED ASSETS

Intangible assets

2

198,061

208,689

Tangible assets

3

13,088

12,147

211,149

220,836

CURRENT ASSETS

Debtors

314,000

380,616

Cash at bank and in hand

447,767

75

761,767

380,691

CREDITORS

Amounts falling due within one year

4

108,336

121,739

NET CURRENT ASSETS

653,431

258,952

TOTAL ASSETS LESS CURRENT LIABILITIES

864,580

479,788

CREDITORS

Amounts falling due after more than one year

4

(92,251

)

-

PROVISIONS FOR LIABILITIES

(2,222

)

(1,935

)

NET ASSETS

770,107

477,853

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Profit and loss account

769,107

476,853

SHAREHOLDERS' FUNDS

770,107

477,853

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

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

The directors acknowledge their 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 Board of Directors on 14 October 2014 and were signed on its behalf by:

Mr L Garside-Beattie - Director

Mrs N C Heath - 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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts

for on-going services is recognised by reference to the stage of completion.

Intangible assets

Intangible fixed assets comprise expenditure on research and development. This is shown in the financial

statements at cost.

Intangible assets are amortised through the profit and loss account in equal instalments over the estimated useful

life of the asset.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Deferred tax

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

sheet date.

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available

evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the

future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the

periods in which the timing differences are expected to reverse, based on tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Research and development

Research and development expenditure represents costs incurred on long term projects which will produce

tangible benefits for the Company. The expenditure is currently being written off over 5 years, which the

Directors regard as the useful economic life of the project.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

640,903

Additions

80,389

At 31 August 2014

721,292

AMORTISATION

At 1 September 2013

432,214

Amortisation for year

91,017

At 31 August 2014

523,231

NET BOOK VALUE

At 31 August 2014

198,061

At 31 August 2013

208,689

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

64,873

Additions

5,304

At 31 August 2014

70,177

DEPRECIATION

At 1 September 2013

52,726

Charge for year

4,363

At 31 August 2014

57,089

NET BOOK VALUE

At 31 August 2014

13,088

At 31 August 2013

12,147

4.

CREDITORS

Creditors include an amount of £ 119,890 (2013 - £ 18,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000