Company Registration No. 07661469 (England and Wales)
HYDRO FUSION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
HYDRO FUSION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HYDRO FUSION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
226,326
181,508
Tangible assets
2
1,278
1,597
227,604
183,105
Current assets
Stocks
163,883
180,467
Debtors
10,422
6,036
Cash at bank and in hand
80,372
56,723
254,677
243,226
Creditors: amounts falling due within one year
(156,319)
(282,317)
Net current assets/(liabilities)
98,358
(39,091)
Total assets less current liabilities
325,962
144,014
Capital and reserves
Called up share capital
3
27,037
26,700
Share premium account
660,345
390,682
Profit and loss account
(361,420)
(273,368)
Shareholders' funds
325,962
144,014
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 March 2017
Mr M A Holm
Director
Company Registration No. 07661469
HYDRO FUSION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Licence
Licence
and Website cost
are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
As the benefit from the intangible assts has not started to be realised, these are not being amortised and are carried at cost.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
20% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
181,508
2,228
183,736
Additions
44,818
-
44,818
At 30 June 2016
226,326
2,228
228,554
Depreciation
At 1 July 2015
-
631
631
Charge for the year
-
319
319
At 30 June 2016
-
950
950
Net book value
At 30 June 2016
226,326
1,278
227,604
At 30 June 2015
181,508
1,597
183,105
HYDRO FUSION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
5,407,400 Ordinary shares of 0.5p each
27,037
26,700
67,500 shares were issued during the year at £4 per share.