Accounts Submission

Accounts Submission

3B VISION LIMITED - Company Information

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3B VISION LIMITED

Company Registration Number:
SC410807 (Scotland)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 May 2015

End date: 30 April 2016

3B VISION LIMITED

Abbreviated Balance sheet

As at 30 April 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 369,353 286,785
Tangible assets: 3 8,311 13,782
Total fixed assets: 377,664 300,567
Current assets
Debtors: 3,637 130,289
Cash at bank and in hand: 21,301 111,768
Total current assets: 24,938 242,057
Creditors: amounts falling due within one year: ( 43,467 ) ( 109,546 )
Net current assets (liabilities): ( 18,529 ) 132,511
Total assets less current liabilities: 359,135 433,078
Creditors: amounts falling due after more than one year: ( 226,910 ) ( 223,699 )
Total net assets (liabilities): 132,225 209,379

The notes form part of these financial statements

3B VISION LIMITED

Balance sheet continued

As at 30 April 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 4 200,100 200,100
Profit and loss account: ( 67,875 ) 9,279
Shareholders funds: 132,225 209,379

For the year ending 30 April 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.

The financial statements were approved by the Board of Directors on 31 December 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mrs Shu Wang 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 2016

  • 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 FRS105 and FRS102 for small companies.

    Turnover policy

    The turnover shown in the project 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 depreciation, determined on a straight line of basis in order to write off each asset over its estimated useful life. Office Equipment is depreciated at 20% per annum, Plant and Machinery are depreciated at 25% per annum.

    Intangible fixed assets amortisation policy

    Intangible assets (including purchase and internally generated) are valued at purchase price including expenses less accumulated amortization, determined on a 10 years' straight-line basis over their useful economic life.
    Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not by 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 benefits for the business are capitalized as Intangible Assets internally generated.
    The capitalized expenditure includes Research and Development employees' salary, Intenet & 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 2016

  • 2. Intangible assets

    Total
    Cost £
    01 May 2015: 330,303
    Additions: 115,610
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 April 2016: 445,913
    Amortisation
    01 May 2015: 43,518
    Provided during the period: 33,042
    On disposals: 0
    Other Adjustments: 0
    30 April 2016: 76,560
    Net book value
    30 April 2016: 369,353
    30 April 2015: 286,785

    During the period, Intangible Assets were comprised of Intangible Assets of 330,303 pounds and Intangible Assets internally generated of 115,610 pounds.
    Intangible Assets are amortized on a 10 years straight line basis. Intangible Assets internally generated are comprised of Capitalized Research and Development costs of the 80% of contractor programmes annual salary, of the 80% of in-house programmers annual salary, and of the 40% of project technical manager annual salary for the period.

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2016

  • 3. Tangible assets

    Total
    Cost £
    01 May 2015: 24,785
    Additions: 380
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    30 April 2016: 25,165
    Depreciation
    01 May 2015: 11,003
    Charge for year: 5,851
    On disposals: 0
    Other adjustments: 0
    30 April 2016: 16,854
    Net book value
    30 April 2016: 8,311
    30 April 2015: 13,782

3B VISION LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 April 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous 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
    Current period
    2016
    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