Registered Number 05158526
AUDYUS LIMITED
Abbreviated Accounts
30 June 2016
Notes | 2016 | 2015 | |
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Fixed assets | |||
Investments | 2 |
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Current assets | |||
Debtors | 3 |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Share premium account |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Taxation
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is provided in full on timing differences, which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Pension costs
The group operates a defined contribution pension scheme in respect of the employees. The cost of contributions is charged to the profit and loss account as they arise.
Cash flow statement
The group has taken advantage of the exemption afforded by FRS1 (revised) not to prepare a cash flow statement on the basis that it is a small group.
Foreign currencies
Transactions denominated in foreign currencies are translated into sterling at the rates ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rates ruling at that date. Translation differences arising are dealt with in the profit and loss account.
Research and Development
Research and development is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation expenditure is deferred and amortised over the period for which the Company is expected to benefit.
Turnover policy
The turnover is attributable to the group’s principal activity 22% (2015 - 30%) of turnover arose outside the United Kingdom.
2
Fixed assets Investments
Cyrus Audio Limited, 100% owned and registered in England and Wales. The Company is involved in the design and manufacture of high quality audio equipment.
Cyrus Trademarks Limited, 100% owned and registered in the British Virgin Islands. A non trading entity.
2016
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2015
£ |
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Debtors include the following amounts due after more than one year |
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