Company Registration No. 05556896 (England and Wales)
Inframon Ltd
Abbreviated unaudited accounts
for the year ended 30 September 2016
Inframon Ltd
Abbreviated Balance Sheet
as at 30 September 2016
Intangible assets
320,673
-
Tangible assets
107,073
34,461
Cash at bank and in hand
894,888
1,415,667
Creditors: amounts falling due within one year
(952,439)
(511,182)
Net current assets
728,088
1,232,865
Total assets less current liabilities
1,155,834
1,267,326
Creditors: amounts falling due after more than one year
(750,000)
(749,969)
Provisions for liabilities
(11,365)
(6,892)
Net assets
394,469
510,465
Called up share capital
101
101
Profit and loss account
394,368
510,364
Total shareholders' funds
394,469
510,465
For the year ending 30 September 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 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 January 2015).
Approved by the board on 19 December 2016
S J Roberts
Director
Company Registration No. 05556896
Inframon Ltd
Notes to the Abbreviated Accounts
for the year ended 30 September 2016
The accounts have been prepared under the historical cost convention and in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015)
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and Machinery - 25% reducing balance
Computer and Office Equipment - 25% reducing balance or 3 years straight line
Fixture and Fittings - 25% reducing balance
Intangible fixed assets are included at cost less accumulated amortisation.
Research and Development costs incurred in the development of the Company's Hyper Cloud Platform ("HCP") are capitalised as Intangible assets and then amortised on a straight line basis over 3 years. The costs include the costs of external IT developers. Such capitalisation is justified on the basis that the Company will earn future annuity income from HCP licences sold to its managed services customers.
There is no amortisation to date. (Amortisation will commence Oct 2016.)
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective January 2015).
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inframon Ltd
Notes to the Abbreviated Accounts
for the year ended 30 September 2016
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
At 30 September 2016
320,673
At 30 September 2016
320,673
At 30 September 2016
194,094
Charge for the year
32,017
At 30 September 2016
87,021
At 30 September 2016
107,073
At 30 September 2015
34,461
Allotted, called up and fully paid:
67 A Ordinary shares of £0.50 each
33.50
33.50
67 B Ordinary Shares of £0.50 each
33.50
33.50
67 C Ordinary Shares of £0.50 each
33.50
33.50
