RYW Community Systems Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07356214 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2014

FOR

RYW COMMUNITY SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S V Magee

D W Gipple

C Bristow

REGISTERED OFFICE:

The Courtyard

Shoreham Road

Upper Beeding

West Sussex

BN44 3TN

REGISTERED NUMBER:

07356214 (England and Wales)

ACCOUNTANTS:

Russell New Limited

The Courtyard

Shoreham Road

Upper Beeding

Steyning

West Sussex

BN44 3TN

FIXED ASSETS

Tangible assets

2

10,800

14,737

Investments

3

473,789

400,000

484,589

414,737

CURRENT ASSETS

Debtors

94,163

212,654

Cash at bank

478

379,296

94,641

591,950

CREDITORS

Amounts falling due within one year

291,538

564,075

NET CURRENT (LIABILITIES)/ASSETS

(196,897

)

27,875

TOTAL ASSETS LESS CURRENT LIABILITIES

287,692

442,612

CREDITORS

Amounts falling due after more than one year

1,002,155

707,155

NET LIABILITIES

(714,463

)

(264,543

)

CAPITAL AND RESERVES

Called up share capital

4

43

43

Share premium

1,081,198

1,074,253

Profit and loss account

(1,795,704

)

(1,338,839

)

SHAREHOLDERS' FUNDS

(714,463

)

(264,543

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 5th November 2014 and were signed on its behalf by:

D W Gipple - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As shown on the balance sheet the company's assets are exceeded by its liabilities. The accounts are prepared on

a going concern basis on the assumption that the company continues to receive the support of its directors and

related parties. The directors are of the opinion that this support will continue for the foreseeable future.

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).

Preparation of consolidated financial statements

The financial statements contain information about RYW Community Systems Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised 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.

Fixtures and fittings

-

33% on cost

Computer equipment

-

25% on reducing balance

Deferred tax

Deferred taxation has not been provided in these accounts as, in the opinion of the directors, there is reasonable

probability that the liability will not arise in the foreseeable future. This does not comply with the Financial

Reporting Standard for Smaller Entities (effective April 2008) paragraph 9.4. If full provision for deferred

taxation was made in these accounts, there would be a liability at the balance sheet date of £2,160 (2013:

£2,947).

The company has a potential deferred tax asset of £294,274 (2013: £229,608) in relation to unrelieved losses of

£1,471,371 (2013: £1,148,038) which is not recognisable due to the uncertainty of the recoverability of this

amount.

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.

Investments

Fixed asset investments are shown at cost less any permanent diminution at the balance sheet date.

Government grants

Government grants are recognised in the profit and loss account in the same period as the expenditure to which

the grant relates is incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2013

and 31st August 2014

30,969

DEPRECIATION

At 1st September 2013

16,232

Charge for year

3,937

At 31st August 2014

20,169

NET BOOK VALUE

At 31st August 2014

10,800

At 31st August 2013

14,737

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st September 2013

400,000

Additions

73,789

At 31st August 2014

473,789

NET BOOK VALUE

At 31st August 2014

473,789

At 31st August 2013

400,000

The company's investments at the balance sheet date in the share capital of companies include the following:

RYW Community Network C.I.C

Country of incorporation: England & Wales

Nature of business: Socially Contributing Reward Systems

%

Class of shares:

holding

Ordinary £1

100.00

2014

30.11.12

£

£

Aggregate capital and reserves

-

15,505

Profit for the year

-

21,503

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

427,812

Ordinary

0.0001p

43

43

1,984 Ordinary shares of 0.0001p each were allotted as fully paid at a premium of 3.50 per share during the year.