PROCESS_PLANT_COMPUTING_L - Accounts

PROCESS PLANT COMPUTING LIMITED - Company Information

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PROCESS PLANT COMPUTING LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

Company Registration No. 03530141 (England and Wales)

PROCESS PLANT COMPUTING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PROCESS PLANT COMPUTING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

49,135

53,845

Tangible assets

8,562

2,047

57,697

55,892

Current assets

Debtors

86,978

110,510

Cash at bank and in hand

23,236

6,591

110,214

117,101

Creditors: amounts falling due within one year

(76,366)

(104,215)

Net current assets

33,848

12,886

Total assets less current liabilities

91,545

68,778

Creditors: amounts falling due after more than one year

(122,251)

(167,396)

(30,706)

(98,618)

Capital and reserves

Called up share capital

13,500

Profit and loss account

(44,206)

(112,118)

Shareholders' funds

(30,706)

(98,618)

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.

Director's responsibilities:

The member has 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 19 January 2015

Dr R W Brooks

Director

Company Registration No. 03530141

PROCESS PLANT COMPUTING 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).

The company is dependant upon its parent company to provide sufficient working capital to enable it to continue to develop and market its product over the next year. The parent company has indicated that it is willing to continue to provide the necessary finance and postpone the settlement of any amounts owing to it by the company for as long as is necessary to enable the company to meet its debts as they fall due. The director considers that this, together with the projections based on current plans, indicates that the company will continue as a going concern for the foreseeable future and that it is appropriate to prepare the accounts on that 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 the value of services net of VAT provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

1.4

Patents

Patents and licences are valued at cost less accumulated amortisation. Amortisation has been provided for in the accounts over the useful economic life of the patent being 10 years and licence being 20 years.

1.5

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:

Plant and machinery

25% per annum on a reducing balance basis.

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PROCESS PLANT COMPUTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2013

96,936

26,263

123,199

Additions

9,369

At 30 June 2014

96,936

35,632

132,568

Depreciation

At 1 July 2013

43,091

24,216

67,307

Charge for the year

4,710

2,854

7,564

At 30 June 2014

47,801

27,070

74,871

Net book value

At 30 June 2014

49,135

8,562

57,697

At 30 June 2013

53,845

2,047

55,892

Share capital

2014

2013

Allotted, called up and fully paid

135,000 Ordinary Shares of 10p each

13,500

Transactions with directors

Creditors include an amount of £24 (2013: £675 creditor) in respect of the director's current account.

Ultimate parent company

The parent company is Curvaceous Software Limited (formerly Process Plant Computing Limited), a company registered in England and Wales. The ultimate controlling party is R W Brooks, a director and the majority shareholder of Curvaceous Software Limited (formerly Process Plant Computing Limited).