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Abbreviated Unaudited Accounts for the Year Ended 31 July 2016 |
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Battery@ Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 July 2016 |
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Battery@ Limited |
Battery@ Limited (Registered number: SC381455) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Battery@ Limited |
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Company Information |
for the Year Ended 31 July 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Battery@ Limited (Registered number: SC381455) |
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Abbreviated Balance Sheet |
31 July 2016 |
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31.7.16 | 31.7.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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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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( |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Battery@ Limited (Registered number: SC381455) |
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Abbreviated Balance Sheet - continued |
31 July 2016 |
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The financial statements were approved by the director on
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Battery@ Limited (Registered number: SC381455) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared on the going concern basis. The company's ability to continue as a |
going concern is dependent upon the financial support of its director. At the balance sheet date the company had |
a deficiency of assets over liabilities of £733895 (2015 - £740719). Included in liabilities is £750904 (2015 |
-£724832) due to the director. The director has intimated that he will not seek repayment of this debt in |
preference to other creditors. |
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Should the company be unable to continue as a going concern, it may be unable to realise the full value of its |
assets as disclosed in balance sheet. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Intangible assets |
Intangible assets represent the cost of registration of patents in relation to the cell battery system currently under |
development by the company. The asset balance has not been amortised as the patented product is in the |
development stage. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Government grants |
Government grants given for financial support of the company or for reimbursement of costs incurred, without |
conditions regarding the company's future actions or any requirement to incur further costs, are recognised in the |
profit and loss account of the period in respect of which they are paid, or in which they become receivable. |
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Grants of a capital nature are included int he balance sheet as deferred income and credited to the profit and loss |
account by instalments over the expected useful life of the related asset on a basis consistent with the |
depreciation policy. |
Battery@ Limited (Registered number: SC381455) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2016 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2015 |
and 31 July 2016 |
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NET BOOK VALUE |
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At 31 July 2016 |
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At 31 July 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2015 |
and 31 July 2016 |
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DEPRECIATION |
At 1 August 2015 |
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Charge for year |
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At 31 July 2016 |
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NET BOOK VALUE |
At 31 July 2016 |
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At 31 July 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.16 | 31.7.15 |
value: | £ | £ |
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Share Capital 1 | £0.01 |
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5. | RELATED PARTY DISCLOSURES |
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During the year, the director made loans to the company of £13000 (2015 - £37000), the amount due to him at |
the year end date is £750904 (2015 - £724832). |
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During the year, all of the transactions recorded in Battery@Limited (previously Che_evc) were for Limits |
Technology Ltd. At the year end Battery@Limited owed Limits Technology £24264. |
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The sole director and shareholder of Battery@Limited , Mr Kenneth Norton, is a director in Limits Technology |
Ltd and owns 66.8% of the shares in Limits Technology Ltd. |
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6. | SHARE OPTIONS |
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On 10 August 2011, the company granted one employee an option to acquire 1111 ordinary shares on or after 10 |
August 2014, at a price of £54.01 per share. |
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The option may be exercised for a period of 10 years from the date of grant. |