Frontline Technology Limited,Ltd - Accounts

FRONTLINE TECHNOLOGY LIMITED - Company Information

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Frontline Technology Limited

Registered Number:02040320

For the year ended 31 December 2016

England and Wales

Unaudited Financial Statements

For the year ended 31 December 2016

Frontline Technology Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 December 2016

Frontline Technology Limited

Statement of Financial Position

Registered Number :

02040320

2015

2016

Notes

Fixed assets

Intangible assets

4,089,462

3,446,958

4,089,462

3,446,958

Current assets

Trade and other receivables

263,999

330,769

2,009

Cash and cash equivalents

3,515

334,284

266,008

Trade and other payables: amounts falling due within one

year

(2,711)

(2,400)

263,297

331,884

Net current assets

Total assets less current liabilities

4,421,346

3,710,255

Trade and other payables: amounts falling due after more

than one year

(1,701,043)

(2,174,975)

2,246,371

Net assets

2,009,212

Capital and reserves

Called up share capital

100

Retained earnings

2,246,271

2,009,112

2,246,371

2,009,212

Shareholders' funds

For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Ali Guryel Director

These financial statements were approved and authorised for issue by the Board on 20 January 2017 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2016

Frontline Technology Limited

Notes to the Financial Statements

Statutory Information

Frontline Technology Limited is a private limited company, limited by shares, domiciled in England and Wales,

registration number 02040320.

Registered address:

Prospect House

19-21 Homesdale Road

Bromley

Kent

BR2 9LY

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Research and development

Research and development expenditure is charged to the profit and loss account in the period in which it isincurred. However, where the directors are satisfied as to the technical, commercial and financial viability ofindividual projects, development expenditure is deferred and amortised over 5 years during which the company isexpected to benefit.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

25% Straight line

Computer equipment

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For the year ended 31 December 2016

Frontline Technology Limited

Notes to the Financial Statements Continued

2. Intangible fixed assets

Research &

Development

Cost or valuation

At 01 January 2016

3,446,958

Additions

642,504

At 31 December 2016

4,089,462

Development expenditure

The director has considered the cost of the intangible fixed asset shown in the accounts to be fair and that the

project meets the following circumstances;

a) there is a clearly difined project, and

b) the related expenditure is separately identifiable, and

c) the outcome of such a project has been assessed with reasonable certainty as to;

i) its technical feasibility, and

ii) its ultimate commercial viability considered in the light of factors such as likely market conditions, public opinion,

consumer and environmental legislation, and

d) the aggregate of the deferred development costs, any further development costs, and related production, selling

and administration costs is reasonably expected to be exceeded by related future sales or other revenues, and

e) adequate resources exist, or are reasonable expected to be available, to enable the project to be completed and

to provide any consequential increases in working capital.

Therefore, development expenditure may be deferred to the extent that its recovery can reasonable be regarded as

assured.

3. Property, plant and equipment

Computer

equipment

Cost or

valuation

At 01 January 2016

22,043

At 31 December 2016

22,043

Provision for depreciation and impairment

At 01 January 2016

22,043

At 31 December 2016

22,043

At 31 December 2016

Net book value

At 31 December 2015

4. Trade and other payables: amounts falling due within one year

2015

2016

Other creditors

2,400

2,711

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For the year ended 31 December 2016

Frontline Technology Limited

Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due after more than one year

2015

2016

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

1,673,580

987,435

Other creditors

501,395

713,608

2,174,975

1,701,043

Other creditors include loans of £370,213 (2015: £509,007) which are repayable at the earliest opportunity as and when sufficent funds become available.

6. Related party transactions

During the year the company bought licences £1,666,000 (2015: £1,736,000) and sold licences of £1,689,600 (2015:

£1,774,600) to Bromcom Computers Plc, an associated company.

During the 2 years ending 31 December 2016, A Guryel, together with members of his close family, controlled the

company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.

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