Data Accelerator Limited - Limited company - abbreviated - 11.9

Data Accelerator Limited - Limited company - abbreviated - 11.9

DATA ACCELERATOR LIMITED - Company Information

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DATA ACCELERATOR LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015






DATA ACCELERATOR LIMITED (REGISTERED NUMBER: 07136606)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

DATA ACCELERATOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2015







DIRECTORS: M P Clothier
C E S Green
W E Mitchell
S Corbett
N Childe-Harmer
J D W Pocock





REGISTERED OFFICE: UGLI Campus
56 Wood Lane
London
W12 7SB





REGISTERED NUMBER: 07136606 (England and Wales)





ACCOUNTANTS: Ballard Dale Syree Watson LLP
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Page 1
DATA ACCELERATOR LIMITED (REGISTERED NUMBER: 07136606)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 272,004 13,175

CURRENT ASSETS
Debtors 706,136 345,892
Cash at bank and in hand 56,214 131,507
762,350 477,399
CREDITORS
Amounts falling due within one year 478,346 308,769
NET CURRENT ASSETS 284,004 168,630
TOTAL ASSETS LESS CURRENT
LIABILITIES
556,008
181,805

CREDITORS
Amounts falling due after more than one
year
3
7,059,510
3,584,905
NET LIABILITIES (6,503,502 ) (3,403,100 )

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account (6,503,602 ) (3,403,200 )
SHAREHOLDERS' FUNDS (6,503,502 ) (3,403,100 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 18 April 2016 and were signed on its
behalf by:



J D W Pocock - Director


The notes form part of these abbreviated accounts

Page 2
DATA ACCELERATOR LIMITED (REGISTERED NUMBER: 07136606)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company's parent company, Data Cloud Limited, has provided in writing that it is its intention to
continue to provide sufficient finance for the company to meet its liabilities when they fall due for a
period of at least 12 months from the date of approval of these financial statements.

Having taken into account the forecast revenues and the company's ongoing operational expenditure
together with the likely capital additions and likely capital repayments, the company's directors have
concluded that it is appropriate that these financial statements are prepared and presented using the
going concern principal due to the continued support of the parent company's investor base.

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller
Entities (effective January 2015).

Turnover
Turnover represents royalties receivable in respect of the use of the company's intellectual property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25% on cost
Computer equipment - 25% on cost

Deferred tax
Deferred tax is recognised on all timing differences where the transactions or events give the company
an obligation to pay more tax in the future, or a right to pay less tax in the future has occurred by the
balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be
recovered. Deferred tax is measured using rates that have been enacted or substantively enacted by
the balance sheet date.

The accumulated losses have resulted in significant tax allowable losses being built up which can be
offset against future trading profits. At present the directors are uncertain as to whether sufficient
profits will be realised against which to offset these losses and accordingly no deferred tax asset has
been recognised in the financial statements.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Page 3 continued...
DATA ACCELERATOR LIMITED (REGISTERED NUMBER: 07136606)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015

1. ACCOUNTING POLICIES - continued

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. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 30,062
Additions 275,343
Disposals (16,527 )
At 31 December 2015 288,878
DEPRECIATION
At 1 January 2015 16,887
Charge for year 14,666
Eliminated on disposal (14,679 )
At 31 December 2015 16,874
NET BOOK VALUE
At 31 December 2015 272,004
At 31 December 2014 13,175

3. CREDITORS

Creditors include the following debts falling due in more than five years:

2015 2014
£    £   
Repayable by instalments 12,404 -

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary shares £1 each 100 100

5. ULTIMATE PARENT COMPANY

Data Cloud Limited is regarded by the directors as being the company's ultimate parent company.

There is no individual considered to be the ultimate controlling party of Data Cloud Limited.

Page 4