RELIANCE_ADVANCED_COMPUTE - Accounts
RELIANCE_ADVANCED_COMPUTE - Accounts
Company Registration No. 04924135 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
Current assets
Debtors
Creditors: amounts falling due within one year
(2,309,761 )
(100 )
Net current liabilities/(assets)
(265,414 )
Total assets less current liabilities
(265,314 )
Capital and reserves
Called up share capital
3
Share premium account
-
Other reserves
Profit and loss account
(385,792 )
-
Shareholders' funds
(265,314 )
Directors' responsibilities:
-
-
Approved by the Board for issue on 10 January 2017
Director
Company Registration No. 04924135
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Basis of accounting
At the balance sheet date the company's liabilities exceeded its assets. The day to day operation of the company is dependent upon support from its holding company. On the assumption that such support will continue to be forthcoming, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.4
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 since it is a subsidiary undertaking of Reliance Trust Limited, a company incorporated in the United Kingdom and registered in England & Wales, and will be included in the consolidated accounts of that company.
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Investments
£
Cost
At 1 July 2015 & at 30 June 2016
100
At 30 June 2015
100
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
-
During the year 3,412 ordinary D shares of 5p each were allotted and fully paid. In total 1,105 were issued at a premium of £39.45 and 2,307 were issued at a premium of £32.95.
4
Ultimate parent company
In the opinion of the directors, the company was under the ultimate control of the directors, Mr E. Flavin and Mr P. Martin until 5th May 2016. On 5th May 2016 Reliance Trust Limited, a company incorporated in the United Kingdom and registered in England & Wales, acquired a controlling interest in Reliance Advanced Computer Systems & Networks Limited and became the ultimate parent company.
Mr B. Kingham, has a beneficial interest in the majority of the ordinary issued share capital of Reliance Trust Limited and is the ultimate controlling party of the company.