Company Registration No. 06979284 (England and Wales)
THE SENSIBLE CODE COMPANY LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
THE SENSIBLE CODE COMPANY LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
THE SENSIBLE CODE COMPANY LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
557,218
510,578
Tangible assets
2
1,413
983
558,631
511,561
Current assets
Debtors
254,866
221,540
Cash at bank and in hand
195,486
116,980
450,352
338,520
Creditors: amounts falling due within one year
3
(108,744)
(236,216)
Net current assets
341,608
102,304
Total assets less current liabilities
900,239
613,865
Creditors: amounts falling due after more than one year
4
(221,653)
(11,153)
678,586
602,712
Capital and reserves
Called up share capital
5
105,609
105,609
Share premium account
635,868
635,868
Profit and loss account
(62,891)
(138,765)
Shareholders'  funds
678,586
602,712
THE SENSIBLE CODE COMPANY LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
For the financial year ended 31 August 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 August 2017
A M McGuire
Director
Company Registration No. 06979284
THE SENSIBLE CODE COMPANY LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
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
Turnover

Turnover represents amounts receivable for the provision of data products and data science services provided before the balance sheet date, net of VAT and trade discounts.

1.4
Research and development
Development expenditure is written off to the profit and loss account in the year in which it is incurred unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit, which is considered to be 10 years.
1.5
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
33.33% per annum on a straight line basis
Fixtures, fittings and equipment
33.33% per annum on a straight line basis
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.
1.7

Prior year adjustment

A prior year adjustment has been made to reclassify grant income to show a more realistic allocation of the income. There is no effect on the results for the year as a result of this adjustment.

THE SENSIBLE CODE COMPANY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2015
843,656
6,344
850,000
Additions
122,309
1,627
123,936
At 31 August 2016
965,965
7,971
973,936
Depreciation
At 1 September 2015
333,078
5,361
338,439
Charge for the year
75,669
1,197
76,866
At 31 August 2016
408,747
6,558
415,305
Net book value
At 31 August 2016
557,218
1,413
558,631
At 31 August 2015
510,578
983
511,561
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £16,500 (2015 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £130,500 (2015 - £0).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
143,339 Ordinary shares of 33.2966p each
47,727
47,727
6,180 Ordinary B shares of £1 each
6,180
6,180
51,702 Ordinary A shares of £1 each
51,702
51,702
105,609
105,609
THE SENSIBLE CODE COMPANY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 5 -
6
Related party relationships and transactions
Advances and credits to directors
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
F Irving - Director's loan account
-
16,305
-
0
-
-
0
16,305
J Todd - Director's loan account
-
3,433
-
0
-
-
0
3,433
19,738
-
-
-
19,738
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