Accounts filed on 30-04-2015

Accounts filed on 30-04-2015

3B VISION LIMITED - Company Information

Print Friendly Version

3B VISION LIMITED

Company Registration Number:
SC410807 (Scotland)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 May 2014

End date: 30 April 2015

3B VISION LIMITED

Abbreviated Balance sheet

As at 30 April 2015


Notes
2015
£
2014
£
Fixed assets
Intangible assets: 2 286,785 235,119
Tangible assets: 3 13,782 10,339
Total fixed assets: 300,567 245,458
Current assets
Debtors: 130,289 20,473
Cash at bank and in hand: 111,768 45,326
Total current assets: 242,057 65,799
Creditors: amounts falling due within one year: 4 ( 109,546 ) ( 112,085 )
Net current assets (liabilities): 132,511 ( 46,286 )
Total assets less current liabilities: 433,078 199,172
Creditors: amounts falling due after more than one year: ( 223,699 ) ( 189,295 )
Total net assets (liabilities): 209,379 9,877

The notes form part of these financial statements

3B VISION LIMITED

Balance sheet continued

As at 30 April 2015


Notes
2015
£
2014
£
Capital and reserves
Called up share capital: 5 200,100 100
Profit and loss account: 9,279 9,777
Shareholders funds: 209,379 9,877

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 31 December 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: Anders Rask
Status: Director

The notes form part of these financial statements

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for small entities (effective April 2008).

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

    Tangible fixed assets depreciation policy

    Tangible Fixed Assets are stated at historical cost less accumulated depreciation, determined on a straight line basis in order to write off each assets over it estimated useful life. Office Equipment are depreciated at 20% per annum, Plant and Machinery are depreciated at 25% per annum.

    Intangible fixed assets amortisation policy

    Intangible Assets (including purchased and internally generated) are valued at purchased price including expenses less accumulated amortization, determined on a 10 years' straight line basis over their estimated useful economic life.
    Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Other accounting policies

    Research and Development
    Revenue expenditure on Research and Development is written off in the year in which it is incurred.
    The expenditure on Research and Development to generate the future economic benefits for the business are capitalized as Intangible Assets internally generated.
    The capitalized expenditure includes Research and Development employees' salary, Internet & Software expenses, and Rent & Rate related to the Research and Development projects.

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 2. Intangible assets

    Total
    Cost £
    01 May 2014: 253,295
    Additions: 77,008
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 April 2015: 330,303
    Amortisation
    01 May 2014: 18,176
    Provided during the period: 25,342
    On disposals: 0
    Other Adjustments: 0
    30 April 2015: 43,518
    Net book value
    30 April 2015: 286,785
    30 April 2014: 235,119

    During the period, Intangible Assets were comprised of Intangible Assets of 253,295 pounds and Intangible Assets internally generated of 77,008 pounds.
    Intangible Assets are amortized on a 10 years straight line basis. Intangible Assets internally generated are comprises of Capitalized Research and Development Costs of the 20% of contractor programmer annual salary, of the 40% of in-house programmers annual salary, and of the 25%of project technical manager annual salary for the period.

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 3. Tangible assets

    Total
    Cost £
    01 May 2014: 16,695
    Additions: 8,090
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 April 2015: 24,785
    Depreciation
    01 May 2014: 6,356
    Charge for year: 4,647
    On disposals: 0
    Other adjustments: 0
    30 April 2015: 11,003
    Net book value
    30 April 2015: 13,782
    30 April 2014: 10,339

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 4. Creditors: amounts falling due within one year


    2015
    £
    2014
    £
    Trade creditors: 3,373 109,658
    Taxation and social security: 106,173 2,427
    Total: 109,546 112,085

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 5. Called up share capital

    Allotted, called up and paid

    Previous period
    2014
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100
    Current period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 200,000 1.00 200,000
    Total share capital (£): 200,100

    During the period, the company issued new 200,000 preference shares at 1 pound each.

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2015

  • 6. Related party disclosures

    Name of related party: Anders Rask
    Relationship: Director of the Company
    Description of the transaction Director Loan to the Company
    Balance at 01 May 2014 20,765
    Balance at 30 April 2015 0

    Additional information

    During the period, Directors' loan to the company has been repaid fully.

    The Director's loan is aim to facilitate the operational expenses at a 0% annual rate. The company is at the liability to pay off Director's loan as when there is sufficient capital to do so.