Zegami Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09853507 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 3 NOVEMBER 2015 TO 31 DECEMBER 2016

FOR

ZEGAMI LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P M Collins

S D Conway

R Noble

C S R Pope

S Taylor

J H Wilkinson

REGISTERED OFFICE:

2nd Floor

King Charles House

Park End Street

Oxford

OX1 1JD

REGISTERED NUMBER:

09853507 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Magma House

16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

FIXED ASSETS

Intangible assets

2

48,000

Tangible assets

3

1,002

49,002

CURRENT ASSETS

Debtors

28,615

Cash at bank

135,319

163,934

CREDITORS

Amounts falling due within one year

(48,268

)

NET CURRENT ASSETS

115,666

TOTAL ASSETS LESS CURRENT LIABILITIES

164,668

CAPITAL AND RESERVES

Called up share capital

4

1,439

Share premium

498,820

Profit and loss account

(335,591

)

SHAREHOLDERS' FUNDS

164,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 31 July 2017 and were signed on its behalf by:

S D Conway - 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 January 2015).

Turnover

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

Revenue from a fixed term license is recognised evenly over the license period. Revenue from other contracts is

recognised when invoiced.

Intangible fixed assets

Intellectual property is written off over the anticipated useful life of five years.

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 etc

-

33% straight line

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the

recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred

tax asset is recognised only if 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 assets and

liabilities are calculated at tax rates expected to be effective at the time the differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

60,000

At 31 December 2016

60,000

AMORTISATION

Amortisation for period

12,000

At 31 December 2016

12,000

NET BOOK VALUE

At 31 December 2016

48,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

1,146

At 31 December 2016

1,146

DEPRECIATION

Charge for period

144

At 31 December 2016

144

NET BOOK VALUE

At 31 December 2016

1,002

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

143,853

ordinary

£0.01

1,439

During the year 143,853 shares were allotted with a nominal value of £0.01. Of these shares 41,603 were

allotted for £12 per share, and the remaining were allotted at par.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2016:

£

S D Conway

Balance outstanding at start of period

-

Amounts advanced

7,427

Amounts repaid

(5,834

)

Balance outstanding at end of period

1,593

R Noble

Balance outstanding at start of period

-

Amounts advanced

6,300

Amounts repaid

(4,900

)

Balance outstanding at end of period

1,400

The loans were interest free and the amounts advanced were the maximum amounts outstanding during the

period.