Ancoris Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04830784 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

Ancoris Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D W J McLeman

Mrs A McLeman

SECRETARY:

Mr D W J McLeman

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

04830784 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

2

61,950

80,150

Tangible assets

3

55,625

64,011

117,575

144,161

CURRENT ASSETS

Debtors

470,344

408,446

Cash at bank

691,099

431,820

1,161,443

840,266

CREDITORS

Amounts falling due within one year

(1,168,975

)

(837,414

)

NET CURRENT (LIABILITIES)/ASSETS

(7,532

)

2,852

TOTAL ASSETS LESS CURRENT LIABILITIES

110,043

147,013

DEFERRED INCOME

(115,737

)

(169,341

)

NET LIABILITIES

(5,694

)

(22,328

)

CAPITAL AND RESERVES

Called up share capital

4

108

108

Share premium

46,567

45,992

Profit and loss account

(52,369

)

(68,428

)

SHAREHOLDERS' FUNDS

(5,694

)

(22,328

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 15 January 2015 and were signed on its behalf by:

Mr D W J McLeman - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors consider that, notwithstanding the company's negative net assets position, it is

appropriate to prepare the accounts on a going concern basis as the company will be able to

continue to meet its liabilities as they fall due for the foreseeable future, that is at least 12 months

from the date of approval of the financial statements.This is due to the continuing support of the

directors.

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

The turnover shown in the profit and loss account represents amounts receivable on software

updates, plus technical support revenue recognised over the term of the contract, exclusive of Value

Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

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 five years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% 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, where transactions or events that result in an obligation to pay more or a

right to pay less tax in the future have occurred by the balance sheet date with certain limited

exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the

periods in which the timing differences are expected to reverse, based on tax rates and laws enacted

or substantively enacted at the balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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

at the balance sheet 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 the profit and loss account 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 the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

91,000

AMORTISATION

At 1 August 2013

10,850

Amortisation for year

18,200

At 31 July 2014

29,050

NET BOOK VALUE

At 31 July 2014

61,950

At 31 July 2013

80,150

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

131,137

Additions

15,350

At 31 July 2014

146,487

DEPRECIATION

At 1 August 2013

67,126

Charge for year

23,736

At 31 July 2014

90,862

NET BOOK VALUE

At 31 July 2014

55,625

At 31 July 2013

64,011

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

31.7.14

31.7.13

£

£

280

Ordinary redeemable

10p

28

28

570,000

Ordinary A

0.01p

57

57

150,000

Ordinary B

0.01p

15

15

41,000

Ordinary D

0.01p

4

4

40,000

Ordinary C

0.01p

4

4

The A, B, C and D Ordinary shares rank pari passu in all aspects except in relation to income where

the shares will rank separately with regard to entitlement to dividend such that the directors may at

any time resolve to declare a dividend on one class of share and not on the other class.

The Ordinary redeemable shares rank separately with regard to no entitlement to vote or a

dividend. The shares may be redeemed at the option of the company for an amount not exceeding

£575 per share.

1,000 Ordinary D shares of 0.01p each were issued at a premium within the year. The total

consideration for the shares issued was £575.