Mixaroo Limited - Period Ending 2016-12-31
Mixaroo Limited - Period Ending 2016-12-31
Registration number:
Mixaroo Limited
trading as
for the Period from 1 March 2016 to 31 December 2016
Chartered Accountants
126 Eglantine Avenue
Belfast
Co Antrim
BT9 6EU
Mixaroo Limited
trading as Boxfish
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Mixaroo Limited
trading as Boxfish
Company Information
Director |
Mr Eoin Dowling |
Registered office |
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Accountants |
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Page 1 |
Mixaroo Limited
trading as Boxfish
Director's Report for the Period from 1 March 2016 to 31 December 2016
The director presents his report and the abridged financial statements for the period from 1 March 2016 to 31 December 2016.
Incorporation
The company was incorporated and commenced trading on
Director of the company
The director who held office during the period was as follows:
Principal activity
The principal activity of the company is development of search engines
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Mr Eoin Dowling
Director
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mixaroo Limited
trading as Boxfish
for the Period Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mixaroo Limited for the period ended 31 December 2016 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that Mixaroo Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Mixaroo Limited. You consider that Mixaroo Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Mixaroo Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Belfast
Co Antrim
BT9 6EU
Page 3 |
Mixaroo Limited
trading as Boxfish
(Registration number: NI636771)
Abridged Balance Sheet as at 31 December 2016
Note |
2016 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
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For the financial period ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 4 |
Mixaroo Limited
trading as Boxfish
(Registration number: NI636771)
Abridged Balance Sheet as at 31 December 2016
Approved and authorised by the
.........................................
Mr Eoin Dowling
Director
Page 5 |
Mixaroo Limited
trading as Boxfish
Notes to the Abridged Financial Statements for the Period from 1 March 2016 to 31 December 2016
General information |
The company is a private company limited by share capital incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company has availed of the exemption in Section 33.1A of FRS 102 from disclosing transactions with other wholly owned entities in the Mixaroo Inc. group..
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Page 6 |
Mixaroo Limited
trading as Boxfish
Notes to the Abridged Financial Statements for the Period from 1 March 2016 to 31 December 2016
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents |
10% per annum straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Page 7 |
Mixaroo Limited
trading as Boxfish
Notes to the Abridged Financial Statements for the Period from 1 March 2016 to 31 December 2016
Loss/profit before tax |
Arrived at after charging/(crediting)
2016 |
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Amortisation expense |
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Intangible assets |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 December 2016 |
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Amortisation |
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Amortisation charge |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil.
Parent and ultimate parent undertaking |
The company's immediate parent is
Page 8 |