Jelly Software Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07228574 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

JELLY SOFTWARE LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Larmour

REGISTERED OFFICE:

Suite 11

5 Hercules Way

Leavesden

Watford

WD25 7GS

REGISTERED NUMBER:

07228574 (England and Wales)

ACCOUNTANTS:

Brookes Stephens

New Media House

Davidson Road

Lichfield

Staffordshire

WS14 9DZ

Fixed assets

Intangible assets

5

5,737

6,610

Tangible assets

6

3,314

3,487

9,051

10,097

Current assets

Debtors

4,322

5,095

Cash at bank

2,829

6,663

7,151

11,758

Creditors

Amounts falling due within one year

80,284

85,019

Net current liabilities

(73,133

)

(73,261

)

Total assets less current liabilities

(64,082

)

(63,164

)

Capital and reserves

Called up share capital

154

154

Retained earnings

(64,236

)

(63,318

)

Shareholders' funds

(64,082

)

(63,164

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Statement of Financial Position for the year ended 31 December 2017 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 17 September 2018 and were signed by:

Mr P Larmour - Director

1.	STATUTORY INFORMATION

Jelly Software Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These accounts are prepared on the going concern basis, the validity of which relies on the continued support

of its director whom have agreed to delay the repayment of any balance owing to them until such time as

funds allow. On this basis the director of the company considers the company capable of meeting its current

financial obligations.

Turnover

Turnover represents net invoiced goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Website development costs

Website development costs incurred in the development of an income generating asset are capitalised and

amortised evenly over their estimated useful life of five years.

All other website development costs are charged to the profit and loss account during the year in which they

are incurred.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

29,425

Additions

1,265

At 31 December 2017

30,690

AMORTISATION

At 1 January 2017

22,815

Amortisation for year

2,138

At 31 December 2017

24,953

NET BOOK VALUE

At 31 December 2017

5,737

At 31 December 2016

6,610

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

11,427

Additions

1,012

At 31 December 2017

12,439

DEPRECIATION

At 1 January 2017

7,940

Charge for year

1,185

At 31 December 2017

9,125

NET BOOK VALUE

At 31 December 2017

3,314

At 31 December 2016

3,487

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

13,000

11,000

Between one and five years

11,917

-

24,917

11,000

8.	RELATED PARTY DISCLOSURES

At the year end, the director was owed £80,219 (2016: £80,908). This was interest free and repayable on

demand.