Poptel Limited Annual Report and Financial Statements

 

We have been requested to supply the Annual Report and Financial Statements which appear below.

 

The information relates the last full trading year to 31st May 1999 of Soft Solution Limited, the predecessor company of Poptel Limited. Poptel Limited started trading on 1st December 1999 and so has not yet completed a full year of trading. All staff, commercial activities, assets and liabilities were transferred from Soft Solution Limited to Poptel Limited.

 

Prior to commencement of trading Poptel Limited raised £1.5 million from investors and has raised another £1.0 million subsequently. As a consequence the Annual Report and Financial Statements below are of historical interest only.

 

Malcolm Corbett

Director, Corporate Affairs

Poptel Limited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SOFT SOLUTION LIMITED

(A Company Limited by Guarantee)

 

 

FINANCIAL STATEMENTS

 

FOR THE

 

YEAR ENDED 31 MAY 1999

 

 

COMPANY NO: 1942215

 

SOFT SOLUTION LIMITED

 

 

DIRECTORS

Shaun Fensom

Malcolm Corbett

Kenneth Holder

Dominic Search

Lucy Brotherston

SECRETARY

Lucy Brotherston

 

 

 

 

 

 

AUDITORS

Gotham Erskine

Chartered Accountants

52‑58 Tabernacle Street

London EC2A 4NJ

 

 

 

 

 

 

BANKERS

The Royal Bank of Scotland plc

London Holborn Branch

London WC1V 6PQ

 

 

 

 

 

 

SOLICITORS

Malcolm Lynch & Co.

Vassalli House

20 Central Road

Leeds

LS1 6DE

 

 

 

 

 

 

REGISTERED OFFICE

Rutherford House

Manchester Science Park

Pencroft Way

Manchester

M15 6GG

 

SOFT SOLUTION LIMITED

 

REPORT OF THE DIRECTORS

 

The directors present herewith their report, together with the audited financial statements of the Company for the year ended 31 May 1999.

 

PRINCIPAL ACTIVITIES AND REVIEW OF OPERATIONS The Company's principal activity during the year was the supply of 'On‑Line' computer communication and information services, and related consultancy. The directors consider that the trading results for the year were satisfactory.

 

DIRECTORS

The directors of the Company during the year were as follows: .

Shaun Fensom                                                  Lucy Brotherston

Malcolm Corbett                                  Dominic Search (Appt June 99)

Kenneth Holder (Appt June 99)

 

The Company is limited by guarantee and has no share capital, hence there are no directors' interests to disclose.

 

 

AUDITORS A resolution to re‑appoint Gotham Erskine as auditors will be put to the members at the Annual General Meeting.

 

 

 

PREPARATION OF THE REPORT

This report has been prepared in accordance with the provisions of Part VII of the Companies Act 1985 relating to small companies.

 

By Order of the Board

Dated: 30th June 2000

Lucy Brotherston‑Secretary

 

 

 

SOFT SOLUTION LIMITED

 

PROFIT AND LOSS ACCOUNT

FOR THE

YEAR ENDED 31 MAY 1999

 

 

 

 

 

 

 

 

 

 

Notes

1999

 

1998

 

 

 

£

£

£

£

TURNOVER

Ab, C

 

 

 

 

Inside UK

 

 

700,276

 

632,955

Ouside UK

 

 

74,208

 

86,907

 

 

 

774,484

 

719,862

 

 

 

 

 

 

Cost of sales

 

 

(248,898)

 

(230,098)

 

 

 

 

 

 

GROSS PROFIT

 

 

525,586

 

489,764

 

 

 

 

 

 

ADMINISTRATIVE EXPENSES

 

 

 

 

 

Staff costs

D

405,137

 

332,339

 

Depreciation

Ac, F

42,981

 

46,437

 

Other operating charges

C

198,719

 

155,065

 

 

 

 

(646,837)

 

(533,841)

 

 

 

(121,251)

 

(44,077)

 

 

 

 

 

 

Other operating income

 

 

9,355

 

14,185

Deferred Grant flowback

L

 

24,653

 

26,367

 

 

 

 

 

 

(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION

 

 

(87,243)

 

(3,525)

Tax on ordin