System Wise Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC160804 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

System Wise Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P S Gillespie

J J Kennedy

SECRETARY:

Mrs F M Kennedy

REGISTERED OFFICE:

107 Saughtonhall Drive

Edinburgh

EH12 5TS

REGISTERED NUMBER:

SC160804 (Scotland)

ACCOUNTANTS:

Anderson Ballantine

Tower Mains Studios

18d Liberton Brae

Edinburgh

EH16 6AE

FIXED ASSETS

Intangible assets

2

154,375

Tangible assets

3

5,220

159,595

CURRENT ASSETS

Debtors

80,064

Cash at bank

33,507

113,571

CREDITORS

Amounts falling due within one year

73,214

NET CURRENT ASSETS

40,357

TOTAL ASSETS LESS CURRENT LIABILITIES

199,952

CREDITORS

Amounts falling due after more than one year

(162,435

)

PROVISIONS FOR LIABILITIES

(1,044

)

NET ASSETS

36,473

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

36,373

SHAREHOLDERS' FUNDS

36,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 January 2015 and were signed on its behalf by:

P S Gillespie - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding Value Added Tax, adjusted to recognise whether or

not the company has obtained the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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

-

33% on cost and 20% on cost

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

162,500

At 30 June 2014

162,500

AMORTISATION

Amortisation for year

8,125

At 30 June 2014

8,125

NET BOOK VALUE

At 30 June 2014

154,375

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

7,500

At 30 June 2014

7,500

DEPRECIATION

Charge for year

2,280

At 30 June 2014

2,280

NET BOOK VALUE

At 30 June 2014

5,220

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

20

Ordinary A

£1

20

80

Ordinary B

£1

80

100