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REGISTERED NUMBER: SC501215 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

PHOTON FORCE LTD

PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOTON FORCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2018







DIRECTOR: Dr R J Walker





REGISTERED OFFICE: Ground Floor
11-15 Thistle Street
Edinburgh
EH2 1DF





REGISTERED NUMBER: SC501215 (Scotland)





ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)

BALANCE SHEET
28 FEBRUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 66,759 21,795
Tangible assets 5 2,980 2,881
69,739 24,676

CURRENT ASSETS
Stocks 6 3,170 -
Debtors 7 69,123 962
Cash at bank 19,990 70,262
92,283 71,224
CREDITORS
Amounts falling due within one year 8 69,905 26,846
NET CURRENT ASSETS 22,378 44,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,117

69,054

CREDITORS
Amounts falling due after more than one
year

9

(25,778

)

(31,350

)

PROVISIONS FOR LIABILITIES (566 ) (548 )
NET ASSETS 65,773 37,156

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,673 37,056
SHAREHOLDERS' FUNDS 65,773 37,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)

BALANCE SHEET - continued
28 FEBRUARY 2018


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 director on 14 September 2018 and were signed by:





Dr R J Walker - Director


PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

1. STATUTORY INFORMATION

Photon Force Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of two years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a straight line basis
Computer equipment - 33% on a straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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 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.

PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018

2. ACCOUNTING POLICIES - continued

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development
expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and
financial viability of individual projects. In this situation, the expenditure is capitalised and amortised over the
period from which the company is expected to benefit.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 March 2017 2,362 25,768 28,130
Additions - 64,123 64,123
At 28 February 2018 2,362 89,891 92,253
AMORTISATION
At 1 March 2017 1,181 5,154 6,335
Amortisation for year 1,181 17,978 19,159
At 28 February 2018 2,362 23,132 25,494
NET BOOK VALUE
At 28 February 2018 - 66,759 66,759
At 28 February 2017 1,181 20,614 21,795

PHOTON FORCE LTD (REGISTERED NUMBER: SC501215)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2017 483 4,276 4,759
Additions - 2,467 2,467
At 28 February 2018 483 6,743 7,226
DEPRECIATION
At 1 March 2017 121 1,757 1,878
Charge for year 121 2,247 2,368
At 28 February 2018 242 4,004 4,246
NET BOOK VALUE
At 28 February 2018 241 2,739 2,980
At 28 February 2017 362 2,519 2,881

6. STOCKS
2018 2017
£    £   
Stocks 3,170 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 47,750 -
VAT 294 502
Prepayments and accrued income 21,079 460
69,123 962

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other loans 6,433 1,215
Trade creditors 1,222 481
Social security and other taxes 5,168 -
Other creditors 2,449 108
Directors' current accounts 53,133 10,000
Deferred income - 13,542
Accrued expenses 1,500 1,500
69,905 26,846

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Other loans > 1 year 25,778 31,350