Company Registration No. 06908381 (England and Wales)
ENISTIC LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
ENISTIC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ENISTIC LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,824
4,326
Current assets
Stocks
19,721
23,944
Debtors
70,470
14,277
Cash at bank and in hand
141,046
-
231,237
38,221
Creditors: amounts falling due within one year
(74,194)
(192,432)
Net current assets/(liabilities)
157,043
(154,211)
Total assets less current liabilities
163,867
(149,885)
Creditors: amounts falling due after more than one year
(79,128)
-
84,739
(149,885)
Capital and reserves
Called up share capital
3
145
109
Share premium account
459,915
2,691
Profit and loss account
(375,321)
(152,685)
Shareholders' funds
84,739
(149,885)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 23 September 2015
D K Mattocks
Director
Company Registration No. 06908381
ENISTIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
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 made losses during the period and has negative reserves.
The directors believe that the results are in line with expectations and show the investment the company has made in hardware and software research and development. Consultancy revenue continues to grow and during the current year substantial blue chip customers have been won enhancing revenue prospects further.
As a result the accounts have been prepared on the going concern 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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
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:
Fixtures, fittings & equipment
25% to 33.33% straight line
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
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.
ENISTIC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
12,081
Additions
8,085
At 31 March 2015
20,166
Depreciation
At 1 April 2014
7,755
Charge for the year
5,587
At 31 March 2015
13,342
Net book value
At 31 March 2015
6,824
At 31 March 2014
4,326
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,450,392 ordinary A shares of 0.0001p each
145
109