Bubbles Online Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08059522 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Bubbles Online Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Fisher

Ms G C Wilmot

Ms E New

E Maartmann

SECRETARY:

REGISTERED OFFICE:

4 Highridge

Alton

Hampshire

GU34 1QN

REGISTERED NUMBER:

08059522 (England and Wales)

ACCOUNTANTS:

A & S Business Services Limited

Ellisford

Kirkcudbright

DG6 4TB

FIXED ASSETS

Intangible assets

4

261,914

234,266

Tangible assets

5

56,149

17,115

Investments

6

500

500

318,563

251,881

CURRENT ASSETS

Debtors

7

58,252

10,526

Cash at bank and in hand

853,866

177,697

912,118

188,223

CREDITORS

Amounts falling due within one year

8

244,823

33,945

NET CURRENT ASSETS

667,295

154,278

TOTAL ASSETS LESS CURRENT LIABILITIES

985,858

406,159

CREDITORS

Amounts falling due after more than one year

9

17,180

-

NET ASSETS

968,678

406,159

CAPITAL AND RESERVES

Called up share capital

11

212

189

Share premium

3,282,649

1,956,217

Retained earnings

(2,314,183

)

(1,550,247

)

SHAREHOLDERS' FUNDS

968,678

406,159

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 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 Board of Directors on 25 February 2019 and were signed on its behalf by:

J A Fisher - Director

1.	STATUTORY INFORMATION

Bubbles Online Services Ltd 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 measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Application development costs are being amortised evenly over their estimated useful life of two 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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 5 ) .

4.	APPLICATION DEVELOPMENT

Application

development

costs

£

COST

At 1 June 2017

673,340

Additions

262,640

Disposals

(674,066

)

At 31 May 2018

261,914

AMORTISATION

At 1 June 2017

439,074

Amortisation for year

148,154

Eliminated on disposal

(587,228

)

At 31 May 2018

-

NET BOOK VALUE

At 31 May 2018

261,914

At 31 May 2017

234,266

5.	TANGIBLE FIXED ASSETS

Plant,

equipment,

fittings

etc

£

COST

At 1 June 2017

23,243

Additions

50,072

Disposals

(6,835

)

At 31 May 2018

66,480

DEPRECIATION

At 1 June 2017

6,128

Charge for year

7,438

Eliminated on disposal

(3,235

)

At 31 May 2018

10,331

NET BOOK VALUE

At 31 May 2018

56,149

At 31 May 2017

17,115

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 June 2017

and 31 May 2018

500

NET BOOK VALUE

At 31 May 2018

500

At 31 May 2017

500

The fixed asset investment of £500 represents 100% of the share capital of the unlisted private

company, Jisp Limited, incorporated in England and Wales. This company is currently dormant.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

-

285

Other debtors

58,252

10,241

58,252

10,526

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts (see note 10)

2,610

-

Trade creditors

21,526

19,822

Taxation and social security

(67,312

)

(2,023

)

Other creditors

287,999

16,146

244,823

33,945

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts (see note 10)

17,180

-

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.5.18

31.5.17

£

£

Net obligations repayable:

Within one year

2,610

-

Between one and five years

17,180

-

19,790

-

Non-cancellable

operating leases

31.5.18

31.5.17

£

£

Within one year

14,000

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

6,452,500

A

.0000

1

65

169

14,455,891

B

.0000

1

145

17

226,150

C

.0000

1

2

3

212

189

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J A Fisher.

13.	SHARE OPTIONS

It is the Company's policy to issue share options at appropriate intervals to motivate and retain

employees and to align their interests with those of shareholders. The Company presently operates an

EMI Scheme.

The options granted under the scheme are Exit Only Options, exercisable at or immediately before a

trade sale or flotation of the Company

The following employees held options to subscribe for ordinary shares in the Company.

Name

Number granted

Date granted

Exercise price

Amanda Fisher

50,000

03/11/2016

£0.00814

Caroline Prestcott

2,500

14/12/2016

£0.00814