Utility: IO Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08453946 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

UTILITY: IO GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Romocki

REGISTERED OFFICE:

1 Fore Street

Ground Floor

London

EC2Y 5EJ

REGISTERED NUMBER:

08453946 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Intangible assets

3

22,076

20,672

Investments

4

1,000

1,000

23,076

21,672

CURRENT ASSETS

Debtors

5

887

3,351

Cash at bank and in hand

3,724

1,000

4,611

4,351

CREDITORS

Amounts falling due within one year

6

22,873

30,704

NET CURRENT LIABILITIES

(18,262

)

(26,353

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,814

(4,681

)

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

3,814

(5,681

)

SHAREHOLDERS' FUNDS

4,814

(4,681

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

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 19 December 2018 and were signed by:

S M Romocki - Director

1.	STATUTORY INFORMATION

Utility: IO Group 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.

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 is from royalty income from the exploitation of patented intellectual property.

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.

Patents and licenses are being amortised evenly over their estimated useful life of five years.

An impairment loss has been recognised in the Income Statement following an assessment at the Balance Sheet

date, indicating the recoverable amount was less than its carrying value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

Financial instruments

Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company

does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

39,931

Additions

11,738

At 31 March 2018

51,669

AMORTISATION

At 1 April 2017

19,259

Charge for year

10,334

At 31 March 2018

29,593

NET BOOK VALUE

At 31 March 2018

22,076

At 31 March 2017

20,672

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

1,000

NET BOOK VALUE

At 31 March 2018

1,000

At 31 March 2017

1,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

887

3,351

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

1,342

-

Amounts owed to group undertakings

11,002

1,551

Other creditors & accruals

10,529

29,153

22,873

30,704

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Romocki, being the sole shareholder.