IMPORT.IO_LIMITED - Accounts

IOL REALISATIONS LIMITED - Company Information

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Company Registration No. 08114613 (England and Wales)

IMPORT.IO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

IMPORT.IO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

IMPORT.IO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

39,355

7,582

Investments

39,445

7,582

Current assets

Debtors

124,882

28,286

Cash at bank and in hand

783,780

78,389

908,662

106,675

Creditors: amounts falling due within one year

(151,257)

(458,487)

Net current assets/(liabilities)

757,405

(351,812)

Total assets less current liabilities

796,850

(344,230)

Capital and reserves

Called up share capital

2,105

1,255

Share premium account

2,488,702

250,103

Profit and loss account

(1,693,957)

(595,588)

Shareholders' funds

796,850

(344,230)

For the financial year ended 30 June 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 25 November 2014

D White

Director

Company Registration No. 08114613

IMPORT.IO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 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 April 2008).

1.2

Turnover

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

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:

Land and buildings Leasehold

Straight line over the term of the lease

Computer equipment

33% Straight line basis

Fixtures, fittings & equipment

33% Straight line basis

1.4

Investments

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

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2013

9,405

Additions

43,916

44,006

At 30 June 2014

53,321

53,411

Depreciation

At 1 July 2013

1,823

Charge for the year

12,143

At 30 June 2014

13,966

Net book value

At 30 June 2014

39,355

39,445

At 30 June 2013

7,582

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

Import .IO Inc

United States

Ordinary

100.00

IMPORT.IO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

Fixed assets

(Continued)

- 3 -

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

Import .IO Inc

Internet services to collate data

Import .IO Inc was incorporated on 24 February 2014 and at the date of sign off of these accounts, there have been no statutory accounts filed.

Share capital

2014

2013

Allotted, called up and fully paid

1,062,000 Ordinary shares of £0.001 each

1,062

1,011

52,000 Deferred shares of £0.001 each

991,000 Seed prefered of £0.001 each

991

192

2,105

1,255

On 11 July 2013, 268,000 £0.001 Seed preferred shares were issued at £1.304 per share.

On 6 May 2014, 50,861 £0.001 Ordinary shares were issued at £2.949 and 391,952 Seed preferred shares were issued at £3.2769 per share.

On 6 May 2014, loan notes were converted into139,030 £0.001 Seed preferred shares which were issued at £3.277 per share.