Data Accelerator Limited - Limited company - abbreviated - 11.9
Data Accelerator Limited - Limited company - abbreviated - 11.9
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
DATA ACCELERATOR LIMITED (REGISTERED NUMBER: 07136606) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
3 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the Board of Directors on behalf by: |
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 |
Plant and machinery | - |
Computer equipment | - |
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. |
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 |
Additions |
Disposals | ( |
) |
At 31 December 2015 |
DEPRECIATION |
At 1 January 2015 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2015 |
NET BOOK VALUE |
At 31 December 2015 |
At 31 December 2014 |
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: | £ | £ |
Ordinary shares | £1 each |
5. | ULTIMATE PARENT COMPANY |
There is no individual considered to be the ultimate controlling party of Data Cloud Limited. |