Abbreviated Company Accounts - WAZOKU LIMITED

07540637 WAZOKU LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 07540637 2015-04-01 2016-03-31 07540637 2016-03-31 07540637 2015-03-31 07540637 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 07540637 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 07540637

WAZOKU LIMITED

Abbreviated Accounts

31 March 2016

WAZOKU LIMITED Registered Number 07540637

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	28,917	17,362
		28,917	17,362
Current assets
Debtors		192,230	173,134
Cash at bank and in hand		857,278	1,217,831
		1,049,508	1,390,965
Creditors: amounts falling due within one year		(451,784)	(849,806)
Net current assets (liabilities)		597,724	541,159
Total assets less current liabilities		626,641	558,521
Total net assets (liabilities)		626,641	558,521
Capital and reserves
Called up share capital	3	1,453	1,236
Share premium account		2,571,701	1,570,873
Other reserves		9	9
Profit and loss account		(1,946,522)	(1,013,597)
Shareholders' funds		626,641	558,521

For the year ending 31 March 2016 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.

Approved by the Board on 12 July 2016

And signed on their behalf by:
S Hill, Director

WAZOKU LIMITED Registered Number 07540637

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT. The total turnover of the company for the year has beenerived from its principal activity wholly undertaken in the United Kingdom.

Tangible assets depreciation policy
Fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixture and fittings - 25% straight line basis
Computer equipment - 33% straight line basis
Lease Improvements - Over the period of lease

Other accounting policies
Leases
Operating lease rentals are charged to the profit and loss account on a straight line basis over the period of the lease.

Taxation
The charge for taxation is based on the loss for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.

2Tangible fixed assets

	£
Cost
At 1 April 2015	28,054
Additions	22,438
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	50,492
Depreciation
At 1 April 2015	10,692
Charge for the year	10,883
On disposals	-
At 31 March 2016	21,575
Net book values
At 31 March 2016	28,917
At 31 March 2015	17,362

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
14,529,034 Ordinary shares of £0.0001 each (12,359,990 shares for 2015)	1,453	1,236

On the 22 June 2015, the company allotted 1,739,991 Ordinary shares of £0.0001 each at price of £0.49 each, which resulted in a share premium of £852,422.

On 28 September 2015, the company allotted another 273,220 Ordinary shares of £0.0001 each at a price of £0.49 each, which resulted in a share premium of £133,851.

On 30 November 2015, share options were exercised and the company allotted 5,833 Ordinary shares of £0.0001 each at a price of £0.1535 each, resulting in a share premium of £894 and 100,000 Ordinary shares of £0.0001 each at a price of £0.06, resulting in a share premium of £5,990.

On 18 March 2016, share options were exercised and the company allotted 50,000 Ordinary shares of £0.0001 each at a price of £0.1535 each, resulting in a share premium of £7,671.