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BETTER JUDGEMENT LTD




Company Registration Number:
03891632 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 06th July 2011

End date: 05th July 2012

SUBMITTED

BETTER JUDGEMENT LTD

Company Information
for the Period Ended
05th July 2012




Director: Robert Bowerman
Company secretary: Eileen Bowerman
Registered office: Badgers Cottage Worley
Nailsworth
Gloucestershire
GL6 0RD
Company Registration Number: 03891632 (England and Wales)

BETTER JUDGEMENT LTD

Abbreviated Balance sheet
As at 05th July 2012

Notes 2012
£
2011
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 2 20,045 25,426
Total fixed assets: 20,045 25,426
Current assets
Stocks: 10,925 11,064
Debtors: 0 0
Cash at bank and in hand: 2 3,038
Total current assets: 10,927 14,102
Creditors
Creditors: amounts falling due within one year 224 106
Net current assets (liabilities): 10,703 13,996
Total assets less current liabilities: 30,748 39,422
Creditors: amounts falling due after more than one year: 4,982 0
Provision for liabilities: 44,295 36,689
Total net assets (liabilities): ( 18,529 ) 2,733

The notes form part of these financial statements

BETTER JUDGEMENT LTD

Abbreviated Balance sheet
As at 05th July 2012
continued

Notes 2012
£
2011
£
Capital and reserves
Called up share capital: 3 100 100
Revaluation reserve: 0 0
Profit and Loss account: ( 18,629 ) 2,633
Total shareholders funds: ( 18,529 ) 2,733

For the year ending 5 July 2012 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 23 March 2013

SIGNED ON BEHALF OF THE BOARD BY:

Name: Robert Bowerman
Status: Director

The notes form part of these financial statements

BETTER JUDGEMENT LTD

Notes to the Abbreviated Accounts
for the Period Ended
05th July 2012

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT. Note that the R&D activities of the company in developing an AI tool for the debate tracking and judging service have not yet generated revenue.

    Tangible fixed assets depreciation policy

    Depreciation calculated using the rates of 33% for office equipment including computers, 20% for motor vehicles and 10% for plant and machinery. Straight line method used.

    Intangible fixed assets amortisation policy

    The current policy is to value intangible assets at zero value.

    Valuation information and policy

    Stocks are primarily service work that has been done, billed for but not yet paid. The company has a considerable body of knowledge on advanced system design but that is not valued financially in these accounts.

    Other accounting policies

    The company has been developing an artificial intelligence system to use within service delivery. This software implements the MD's argumentation visualisation PhD from University College London. Although the company has a considerable body of system design and software developed policy is not to assign this a value at the current time.

BETTER JUDGEMENT LTD

Notes to the Abbreviated Accounts
for the Period Ended
05th July 2012

  • 2. Tangible assets

    Total
    Cost £
    At 06th July 2011: 64,956
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    At 05th July 2012: 64,956
    Depreciation
    At 06th July 2011: 39,530
    Charge for year: 5,381
    On disposals: 0
    Other adjustments 0
    At 05th July 2012: 44,911
    Net book value
    At 05th July 2012: 20,045
    At 05th July 2011: 25,426

    The above shows that the company's Office Equipment and Motor Vehicles are fully depreciated now. The company expects to lease an electric car soon.

BETTER JUDGEMENT LTD

Notes to the Abbreviated Accounts
for the Period Ended
05th July 2012

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period 2011
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100
    Current period 2012
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100