REGISTERED NUMBER: 03722888 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Acceleration Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs S Millard

SECRETARY:

Regent Corporate Secretaries Ltd

REGISTERED OFFICE:

Suite 66 Barley Mow Passage

Chiswick

London

W4 4PH

REGISTERED NUMBER:

03722888 (England and Wales)

ACCOUNTANTS:

JW DUFFY

Suite 66

10, Barley Mow Passage

Chiswick

London

W4 4PH

CURRENT ASSETS

Debtors

24,000

24,000

Cash at bank

3,883

2,196

27,883

26,196

CREDITORS

Amounts falling due within one year

(44,481

)

(43,880

)

NET CURRENT ASSETS

72,364

70,076

TOTAL ASSETS LESS CURRENT LIABILITIES

72,364

70,076

CAPITAL AND RESERVES

Called up share capital

2

15,000

15,000

Profit and loss account

57,364

55,076

SHAREHOLDERS' FUNDS

72,364

70,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 March 2017 and were signed by:

Mrs S Millard - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Partner's profit share

Under a Partnership agreement dated 20th April 1999 Fineforce Limited of Trident Chambers, Wickhams Cay,

Tortola, British Virgin Islands is entitled to receive a profit share amounting to 95% of the net profit on al the

transactions administered on behalf of the partnership by Acceleration Ltd.

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

€

€

10,000

Ordinary

£1

15,000

15,000

3.	ULTIMATE PARENT COMPANY

The ultimate parent companies are Lloyd Andrews (Nominees) Ltd, a company incorporated in the British Virgin

Islands, and Offshore Capital Management Corp., a company incorporated in the Republic of Panama.