Clear Cab Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04555492 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Clear Cab Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Atkinson

S R Mathews

SECRETARY:

R A Tait FCCA

REGISTERED OFFICE:

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

REGISTERED NUMBER:

04555492 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

CURRENT ASSETS

Cash at bank and in hand

282

304

CREDITORS

Amounts falling due within one year

68,740

68,740

NET CURRENT LIABILITIES

(68,458

)

(68,436

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,458

)

(68,436

)

CAPITAL AND RESERVES

Called up share capital

2

4,050

4,050

Profit and loss account

(72,508

)

(72,486

)

SHAREHOLDERS' FUNDS

(68,458

)

(68,436

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 8 July 2015 and were signed on its behalf by:

I Atkinson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. This assumes that the business will continue to

benefit from the support of its creditors and directors. Should this basis become inappropriate, fixed assets and long term

liabilities would have to be reclassified as current assets and current liabilities respectively.

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).

Intangible fixed assets

Development costs are the prototyping and design costs associated with developing Clear Cab Limited products. They

will be written off over the estimated useful economic life of the related product once commercial production

commences.

Computer software relates to the purchase of an e-commerce facility. The costs will be written off over the estimated

useful economic life once the product is in commercial production.

Tangible fixed assets

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

10

Ordinary Share

£1

10

10

4,040

Preference Shares

£1

4,040

4,040

4,050

4,050

The preference shareholders are not entitled to any voting rights.

Rights to dividends and redemption of shares is at the sole discretion of the directors.