Electric Imp Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08034260 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ELECTRIC IMP LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

H Fiennes

SECRETARY:

S Myhill

REGISTERED OFFICE:

Union House

Walton Lodge

Bridge Street

Walton-on-Thames

Surrey

KT12 1BT

REGISTERED NUMBER:

08034260 (England and Wales)

ACCOUNTANTS:

Lawfords Consulting Limited

Chartered Accountants

Union House

Walton Lodge

Bridge Street

Walton-on-Thames

Surrey

KT12 1BT

The following reproduces the text of the report prepared for the director and members in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Electric Imp Limited for the year ended 31 December 2016 which comprise the Abridged Income Statement,

Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Electric Imp Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Electric Imp Limited and state those matters that we have agreed to state to the director of Electric Imp Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Electric Imp Limited director for our work or for this report.

It is your duty to ensure that Electric Imp Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Electric Imp Limited. You consider that Electric Imp Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Electric Imp Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lawfords Consulting Limited

Chartered Accountants

Union House

Walton Lodge

Bridge Street

Walton-on-Thames

Surrey

KT12 1BT

26 September 2017

FIXED ASSETS

Tangible assets

4

54,997

1,255

CURRENT ASSETS

Debtors

118,667

10,469

Cash at bank

71,541

43,902

190,208

54,371

CREDITORS

Amounts falling due within one year

141,452

60,333

NET CURRENT ASSETS/(LIABILITIES)

48,756

(5,962

)

TOTAL ASSETS LESS CURRENT LIABILITIES

103,753

(4,707

)

PROVISIONS FOR LIABILITIES

18,490

-

NET ASSETS/(LIABILITIES)

85,263

(4,707

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

85,262

(4,708

)

SHAREHOLDERS' FUNDS

85,263

(4,707

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 September 2017 and were signed by:

H Fiennes - Director

1.	STATUTORY INFORMATION

Electric Imp Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the service fee charged to Electric Imp Inc for the period in respect of services provided and is

calculated on an accruals basis. Turnover represents 107.5% of total business costs.

Tangible fixed assets

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

Land and buildings

-

Over the term of the lease

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those

in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing

difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

Smallest parent company

The smallest parent company which draws up consolidated financial statements, which the company is a member of,

is Electric Imp Inc, whose registered office is 5150 El Camino Real Ste. C31, Los Altos, CA 94022, USA.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2015 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

7,713

Additions

62,169

Disposals

(2,378

)

At 31 December 2016

67,504

DEPRECIATION

At 1 January 2016

6,458

Charge for year

8,427

Eliminated on disposal

(2,378

)

At 31 December 2016

12,507

NET BOOK VALUE

At 31 December 2016

54,997

At 31 December 2015

1,255

5.	OTHER FINANCIAL COMMITMENTS

The total financial commitment at the year end was £396,219.