PSYCLE_INTERACTIVE_LIMITE - Accounts

PSYCLE INTERACTIVE LIMITED - Company Information

Print Friendly Version

Company Registration No. 03418016 (England and Wales)

PSYCLE INTERACTIVE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

PSYCLE INTERACTIVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

PSYCLE INTERACTIVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

7,168

13,861

Investments

2,838

10,006

16,699

Current assets

Debtors

833,440

668,586

Cash at bank and in hand

433,524

658,936

1,266,964

1,327,522

Creditors: amounts falling due within one year

(790,497)

(1,272,373)

Net current assets

476,467

55,149

Total assets less current liabilities

486,473

71,848

Provisions for liabilities

(986)

(2,560)

485,487

69,288

Capital and reserves

Called up share capital

200

Other reserves

Profit and loss account

485,215

69,016

Shareholders' funds

485,487

69,288

PSYCLE INTERACTIVE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

28 FEBRUARY 2014

- 2 -

For the financial year ended 28 February 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 November 2014

Dr R B Gardner

Director

Company Registration No. 03418016

PSYCLE INTERACTIVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer hardware

50% straight line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

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

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

PSYCLE INTERACTIVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 March 2013

48,321

2,838

51,159

Additions

14,336

At 28 February 2014

62,657

2,838

65,495

Depreciation

At 1 March 2013

34,460

Charge for the year

21,029

At 28 February 2014

55,489

Net book value

At 28 February 2014

7,168

2,838

10,006

At 28 February 2013

13,861

2,838

16,699

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Psycle Interactive Spain SL

Spain

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

Psycle Interactive Spain SL

Software and design studio

(39,337)

7,307

PSYCLE INTERACTIVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 5 -

Share capital

2014

2013

Allotted, called up and fully paid

200 Ordinary shares of £1 each

200