REGISTERED NUMBER: 02136682 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2016 TO 31 DECEMBER 2016

FOR

CRANBOX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

Mr S R Dreier

Mr P M Roadseth

REGISTERED OFFICE:

1 Newmans Row

Lincolns Inn

Lincoln Road

High Wycombe

Buckinghamshire

HP12 3RE

REGISTERED NUMBER:

02136682 (England and Wales)

AUDITORS:

Seymour Taylor Audit Limited, Statutory Auditor

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

FIXED ASSETS

Tangible assets

3

7,284

11,225

Investments

4

1

1

7,285

11,226

CURRENT ASSETS

Debtors

5

382,837

544,905

Cash at bank and in hand

116,496

28,829

499,333

573,734

CREDITORS

Amounts falling due within one year

6

231,819

242,806

NET CURRENT ASSETS

267,514

330,928

TOTAL ASSETS LESS CURRENT LIABILITIES

274,799

342,154

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

7

269,799

337,154

SHAREHOLDERS' FUNDS

274,799

342,154

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 10 August 2017 and were signed on its behalf by:

Mr S R Dreier - Director

1.	STATUTORY INFORMATION

Cranbox Limited is a private company limited by shares and incorporated in England and Wales. The address

of the company's registered office address can be found on the company information page of the financial

statements.

The company's principal activity continued to be the development and sale of computer software products.

The presentation currency of these financial statements is sterling (£), being the currency of the primary

economic market in which the entity operates (its functional currency). All amounts in these financial statements

have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Cranbox Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable arid represents amounts

receivable for goods and services provided in the normal course of business, net of VAT and trade discounts.

Turnover represents revenue from software licence fee income; support and maintenance income; and services

income.

Software licence fee income is recognised by reference to the stage of completion over the period of the

implementation process. Support and maintenance income is deferred at the date of invoicing and released to

the profit and loss account over the duration of the maintenance contracts. The balance of maintenance income

not released to the profit and loss account is carried in the balance sheet within deferred revenue. Services

income is recognised in the month the services are performed.

Tangible fixed assets

Tangible fixed assets are stated at cost, or deemed cost, less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating as

intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

- straight line over remainder of lease

Fixtures and fittings

- straight line - 25%

Equipment

- straight line - 25%

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such

indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount.

Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or

loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount 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 represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and

other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against

the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued

non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances

that apply to the sale of the asset.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot

exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using

the closing rate

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are

held separately from those of the company. The annual contributions are charged to the profit and loss account.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees

are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are

presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are

included in the profit and loss account. Financial costs are calculated so as to produce a constant rate of return

on the outstanding liability.

Where contractual terms of share capital do not have any terms meeting the definition of financial liability then

this is classified as an equity instrument. Dividends and distributions relating to equity instruments are debited

directly to equity.

3.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Equipment

Totals

£

£

£

£

COST

At 1 April 2016

17,353

6,438

156,747

180,538

Additions

-

-

819

819

At 31 December 2016

17,353

6,438

157,566

181,357

DEPRECIATION

At 1 April 2016

14,332

4,488

150,493

169,313

Charge for period

1,301

1,207

2,252

4,760

At 31 December 2016

15,633

5,695

152,745

174,073

NET BOOK VALUE

At 31 December 2016

1,720

743

4,821

7,284

At 31 March 2016

3,021

1,950

6,254

11,225

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 March 2016

1

The company owns 100% of the issued share capital of Cranbox Corporation, a company incorporated in the

United States of America. The principal activity of Cranbox Corporation is the sale of computer software

products.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade debtors

237,609

326,351

Amounts owed by group undertakings

126,269

186,737

Other debtors

18,959

31,817

382,837

544,905

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade creditors

31,911

51,229

Taxation and social security

79,245

91,328

Other creditors

120,663

100,249

231,819

242,806

7.

RESERVES

Retained

earnings

£

At 1 April 2016

337,154

Deficit for the period

(46,522

)

Dividends

(20,833

)

At 31 December 2016

269,799

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Other matters

The comparative results in respect of the year ended 31 March 2016 were not audited as the company was

entitled to exemption from audit under Section 477 of the Companies Act 2006.

Timothy Fulker BSc FCA (Senior Statutory Auditor)

for and on behalf of Seymour Taylor Audit Limited, Statutory Auditor

9.	OTHER FINANCIAL COMMITMENTS

At 31 December 2016 the company had total commitments under non-cancellable operating leases over the

remaining life of those leases of £109,416 (31 March 2016 - £125,777).

10.	ULTIMATE PARENT COMPANY

11.	TRANSITION TO FRS102