Humanconcepts UK Ltd.Liquidiert

Humanconcepts UK Ltd.

Düsseldorf (vormals: Willich)

Jahresabschluss zum Geschäftsjahr vom 01.01.2010 bis zum 31.12.2010

CONTENTS OF THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2010

COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2010

DIRECTOR:

SECRETARY:

REGISTERED OFFICE:

REGISTERED NUMBER:

AUDITORS:

REPORT OF THE INDEPENDENT AUDITORS TO HUMANCONCEPTS UK LIMITED UNDER SECTION 449 OF THE COMPANIES ACT 2006

We have examined the abbreviated accounts set out on pages three to five, together with the full financial statements of HumanConcepts UK Limited for the year ended 31 December 2010 prepared under Section 396 of the Companies Act 2006.

This report is made solely to the company, in accordance with Section 449 of the Companies Act 2006. Our work has been undertaken so that we might state to the company those matters we are required to state to it in a special auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our work, for this report, or for the opinions we have formed.

Respective responsibilities of director and auditors

The director is responsible for preparing the abbreviated accounts in accordance with Section 444 of the Companies Act 2006. It is our responsibility to form an independent opinion as to whether the company is entitled to deliver abbreviated accounts to the Registrar of Companies and whether the abbreviated accounts have been properly prepared in accordance with the Regulations made under that Section and to report our opinion to you.

Basis of opinion

We conducted our work in accordance with Bulletin 2008/4 issued by the Auditing Practices Board. In accordance with that Bulletin we have carried out the procedures we consider necessary to confirm, by reference to the financial statements, that the company is entitled to deliver abbreviated accounts and that the abbreviated accounts to be delivered are properly prepared.

Opinion

In our opinion the company is entitled to deliver abbreviated accounts prepared in accordance with Section 444(3) of the Companies Act 2006, and the abbreviated accounts have been properly prepared in accordance with the Regulations made under that Section.

ABBREVIATED BALANCE SHEET 31 DECEMBER 2010

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 14/9/11 and were signed by:

NOTES TO THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2010

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has net liabilities at 31 December 2010 of £96,558. The company has net liabilities due to deferred income of £1,175,828. The company has sufficient cash flow and support from its parent company to cover its costs and fulfil its obligations under the ongoing contracts contained within deferred income. For these reasons the director believes the company is still a going concern.

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 April 2008).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts and online subscriptions where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Deferred tax

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

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.

Deferred Income

Consultancy and Training

Consultancy and training time paid for in advance is carried forward in deferred income until it is used, at which point it is recognised in turnover.

Software Subscriptions and Support and Maintenance Contracts

Access to software and support are provided to clients over the course of the contract or subscription period. Income relating to future periods is deferred over the subscription or contract period.

2. TANGIBLE FIXED ASSETS

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

4. ULTIMATE PARENT COMPANY

The ultimate parent company is Human Concepts LLC, which is incorporated in California in the United States of America. Human Concepts Ltd is a wholly owed subsidiary of Human Concepts LLC. Group accounts have been prepared but are not publicly available.

5. RELATED PARTY DISCLOSURES

During the year the company made purchases of £744,314 (2009: £630,677) from Human Concepts LLC, the 100 % owners of this company. The amount owed from Human Concepts LLC at the year end, is £ 533,243 (2009: £5,031 owed to).

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Sacks, as he is the majority shareholder of Human Concepts LLC, the parent company of this company. He is also a Director of Human Concepts LLC and this company.