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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2016 | 2015 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 3 |
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Current assets | |||||||
Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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Net current assets |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Share premium |
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Profit and loss account | ( |
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Shareholders' funds |
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M Black | S Bell | ||||||
Director | Director | ||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Intangible fixed assets | ||||||||
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Patents | 7 years straight line | |||||||
Development costs | 5 years straight line from product launch | |||||||
Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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2 | Research and development costs | |||||||
Careful judgement by the directors is applied when deciding whether the recognition requirements for development costs have been met. This is necessary as the economic success of any product development is uncertain until such time as technical viability has been proven and commercial supply agreements are likely to be achieved. Judgements are based on the information available at each reporting date which includes the progress with testing and certification and progress on, for example, establishment of commercial arrangements with third parties. In addition, all internal activities related to research and development of new products are continuously monitored by the directors. Research costs are charged in the Statement of comprehensive income as they are incurred. Development costs could be capitalised as intangible assets when it is probable that future economic benefits will flow to the company. Such intangible assets will be amortised on a straight-line basis from the point at which the assets are ready for use over the period of the expected benefit, and will be reviewed for impairment at each reporting date. The criteria for recognising expenditure as an asset are: · it is technically feasible to complete the product; · management intends to complete the product and use or sell it; · there is an ability to use or sell the product; · it can be demonstrated how the product will generate probable future economic benefits; adequate technical, financial and other resources are available to complete the development, use and sale of the product; and · expenditure attributable to the product can be reliably measured. Development costs are currently capitalised as incurred due to the above criteria for their recognition as an asset has been met. |
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3 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 January 2016 |
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At 31 December 2016 |
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Amortisation | ||||||||
At 1 January 2016 |
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Provided during the year |
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At 31 December 2016 |
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Net book value | ||||||||
At 31 December 2016 |
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At 31 December 2015 |
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4 | Debtors | 2016 | 2015 | |||||
£ | £ | |||||||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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5 | Creditors: amounts falling due within one year | 2016 | 2015 | |||||
£ | £ | |||||||
Trade creditors |
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Other creditors |
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6 | Controlling party | |||||||
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7 | Other information | |||||||
Alcolizer Technology United Kingdom Limited (Formerly Oxtox Limited) is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
A1 Marquis Court | ||||||||
Team Valley | ||||||||
Gateshead | ||||||||
Tyne & Wear | ||||||||
NE11 0RU |