IRIS Accounts Production v17.1.1.60 06956646 Board of Directors 1.1.16 31.12.16 31.12.16 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 06956646 2015-12-31 06956646 2016-12-31 06956646 2016-01-01 2016-12-31 06956646 2014-12-31 06956646 2015-01-01 2015-12-31 06956646 2015-12-31 06956646 ns15:EnglandWales 2016-01-01 2016-12-31 06956646 ns14:PoundSterling 2016-01-01 2016-12-31 06956646 ns10:Director1 2016-01-01 2016-12-31 06956646 ns10:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 06956646 ns10:SmallEntities 2016-01-01 2016-12-31 06956646 ns10:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 06956646 ns10:SmallCompaniesRegimeForDirectorsReport 2016-01-01 2016-12-31 06956646 ns10:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 06956646 ns10:FullAccounts 2016-01-01 2016-12-31 06956646 ns10:Director2 2016-01-01 2016-12-31 06956646 ns10:Director3 2016-01-01 2016-12-31 06956646 ns10:Director4 2016-01-01 2016-12-31 06956646 ns10:Director5 2016-01-01 2016-12-31 06956646 ns10:RegisteredOffice 2016-01-01 2016-12-31 06956646 ns5:CurrentFinancialInstruments 2016-12-31 06956646 ns5:CurrentFinancialInstruments 2015-12-31 06956646 ns5:ShareCapital 2016-12-31 06956646 ns5:ShareCapital 2015-12-31 06956646 ns5:SharePremium 2016-12-31 06956646 ns5:SharePremium 2015-12-31 06956646 ns5:RetainedEarningsAccumulatedLosses 2016-12-31 06956646 ns5:RetainedEarningsAccumulatedLosses 2015-12-31 06956646 ns5:AdditionsToInvestments 2016-12-31 06956646 ns5:CostValuation 2016-12-31 06956646 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2016-12-31 06956646 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2015-12-31


REGISTERED NUMBER: 06956646 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

TWIGKIT LIMITED

TWIGKIT LIMITED (REGISTERED NUMBER: 06956646)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TWIGKIT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: S Olafsson
B Holm
J Gilligan
P Little
A Usherwood





REGISTERED OFFICE: 72 Tenison Road
Cambridge
CB1 2DG





REGISTERED NUMBER: 06956646 (England and Wales)





ACCOUNTANT: Ewing Accounts Ltd
Chilcompton
Green Lane
Aspley Guise
Bedfordshire
MK17 8EN

TWIGKIT LIMITED (REGISTERED NUMBER: 06956646)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £   
FIXED ASSETS
Investments 4 81 -

CURRENT ASSETS
Debtors 5 394,894 412,759
Cash at bank 1,017,374 1,432,999
1,412,268 1,845,758
CREDITORS
Amounts falling due within one year 6 (819,058 ) (793,990 )
NET CURRENT ASSETS 593,210 1,051,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

593,291

1,051,768

CAPITAL AND RESERVES
Called up share capital 2,887 2,887
Share premium 999,413 999,413
Retained earnings (409,009 ) 49,468
SHAREHOLDERS' FUNDS 593,291 1,051,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 April 2017 and were signed on its behalf by:





S Olafsson - Director


TWIGKIT LIMITED (REGISTERED NUMBER: 06956646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Twigkit Limited is a private company, limited by shares , registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net invoiced sales of software licences and related services, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent
that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 81
At 31 December 2016 81
NET BOOK VALUE
At 31 December 2016 81

TWIGKIT LIMITED (REGISTERED NUMBER: 06956646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 288,212 322,305
Other debtors 106,682 90,454
394,894 412,759

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 20,102 32,202
Social security and other taxes 36,466 38,168
Other creditors 563 1,948
Deferred income 720,744 588,488
Accrued expenses 41,183 133,184
819,058 793,990

7. RELATED PARTY DISCLOSURES

Twigkit LLC is a US company of which Twigkit Ltd is 100% shareholder. During the year Twigkit Ltd incurred
consultancy fees from Twigkit LLC totalling £72,035 (2015 - £0). During the year Twigkit Ltd charged £12,163
management charges to Twigkit LLC (2015 - £0).

At the year end there is an outstanding balance owed to Twigkit Ltd by Twigkit LLC totalling £26,789 (2015 - £0).