ZEDDIT_LIMITED - Accounts

ZEDDIT LIMITED - Company Information

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Company Registration No. 09182082 (England and Wales)

ZEDDIT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

ZEDDIT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ZEDDIT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

225,900

301,200

Current assets

Debtors

952

1,097

Cash at bank and in hand

4,480

1,155

5,432

2,252

Creditors: amounts falling due within one year

(165,016)

(169,823)

Net current liabilities

(159,584)

(167,571)

Total assets less current liabilities

66,316

133,629

Capital and reserves

Called up share capital

1,351

1,200

Share premium account

501,967

343,875

Profit and loss account

(437,002)

(211,446)

Shareholders' funds

66,316

133,629

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 20 October 2017

Mr J Harris

Director

Company Registration No. 09182082

ZEDDIT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

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 January 2015).

The director has considered the financial position of the company including the expected investment & income, and believes the company is a going concern. Therefore these accounts have been prepared on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Intellectual Property

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.5

Intangible Fixed Assets

Intangible assets are estimated to have a useful economic life of five years and are therefore amortised at a rate of 20% straight line.

Fixed assets

Intangible assets

Cost

At 1 September 2015 & at 31 August 2016

376,500

Depreciation

At 1 September 2015

75,300

Charge for the year

75,300

At 31 August 2016

150,600

Net book value

At 31 August 2016

225,900

At 31 August 2015

301,200

ZEDDIT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

1,351 Ordinary of £1 each

1,351

1,200

During the year the company issued 151 ordinary £1 shares, of which 75 shares were issued at a premium of £999 per share and the remaining 76 shares at a premium of £1,333 per share.

The total consideration received by the company during the year was £176,162. After deduction of associated costs, the increase in share premium during the year was £158,092.