Netz Cms Limited - Period Ending 2018-12-31

Registration number: 09338999

Netz Cms Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2018

Netz Cms Limited

Contents

Company Information	1
Directors' Report	2
Profit and Loss Account	3
Statement of Comprehensive Income	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 9

Netz Cms Limited

Company Information

Directors

Mr Andrew Hartley Mr Frank Bertele

Registered office

C/o Intelletec Ltd The Office Group 50 Liverpool Street London EC2M 7PD

Page 1

Netz Cms Limited

Directors' Report for the Year Ended 31 December 2018

The directors present their report and the financial statements for the year ended 31 December 2018.

Directors of the company

The directors who held office during the year were as follows:

Mr Andrew Hartley

Mr Frank Bertele

Principal activity

The principal activity of the company is client intelligence and lead generation through netz.uk platform

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 28 February 2019 and signed on its behalf by:

.........................................
Mr Frank Bertele
Director

Page 2

Netz Cms Limited

Profit and Loss Account for the Year Ended 31 December 2018

	Note	Total 31 December 2018 £	Total 31 December 2017 £
Turnover		86,822	29,871
Administrative expenses		(111,026)	(103,776)
Other operating income		(592)	16,705
Operating loss		(24,796)	(57,200)
Loss before tax	3	(24,796)	(57,200)
Loss for the financial year		(24,796)	(57,200)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 3

Netz Cms Limited

Statement of Comprehensive Income for the Year Ended 31 December 2018

	Note	2018 £	2017 £
Loss for the year		(24,796)	(57,200)
Total comprehensive income for the year		(24,796)	(57,200)

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 4

Netz Cms Limited

(Registration number: 09338999)
Balance Sheet as at 31 December 2018

	Note	2018 £	2017 £
Current assets
Debtors	5	1,980	-
Cash at bank and in hand		18,205	32,152
		20,185	32,152
Creditors: Amounts falling due within one year	6	(16,307)	(3,478)
Net assets		3,878	28,674
Capital and reserves
Called up share capital		133	133
Share premium reserve		241,011	241,011
Profit and loss account		(237,266)	(212,470)
Total equity		3,878	28,674

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 28 February 2019 and signed on its behalf by:
 

.........................................

Mr Frank Bertele

Director

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 5

Netz Cms Limited

Statement of Changes in Equity for the Year Ended 31 December 2018

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 January 2018	133	241,011	(212,470)	28,674
Loss for the year	-	-	(24,796)	(24,796)
Total comprehensive income	-	-	(24,796)	(24,796)
At 31 December 2018	133	241,011	(237,266)	3,878

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 January 2017	132	231,012	(155,270)	75,874
Loss for the year	-	-	(57,200)	(57,200)
Total comprehensive income	-	-	(57,200)	(57,200)
New share capital subscribed	1	9,999	-	10,000
At 31 December 2017	133	241,011	(212,470)	28,674

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 6

Netz Cms Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

1	General information

The company is a private company limited by share capital incorporated in England & Wales .

The address of its registered office is:
C/o Intelletec Ltd The Office Group
50 Liverpool Street
London
EC2M 7PD
England

These financial statements were authorised for issue by the Board on 28 February 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	50% Straight Line

Page 7

Netz Cms Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Loss before tax

Arrived at after charging/(crediting)

	2018 £	2017 £
Depreciation expense	164	164

Page 8

Netz Cms Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2018	329	329
At 31 December 2018	329	329
Depreciation
At 1 January 2018	329	329
At 31 December 2018	329	329
Carrying amount
At 31 December 2018	-	-

5

Debtors

	2018 £	2017 £
Other debtors	1,980	-
Total current trade and other debtors	1,980	-

6

Creditors

	Note	2018 £	2017 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		13,428	437
Taxation and social security		1,272	1,859
Other creditors		1,607	1,182
		16,307	3,478

Page 9

Netz Cms Limited

Detailed Profit and Loss Account for the Year Ended 31 December 2018

	2018  £	2017  £
Turnover (analysed below)	86,822	29,871
Gross profit (%)	100%	100%
Administrative expenses
Employment costs (analysed below)	(50,575)	(43,756)
Establishment costs (analysed below)	(3,600)	(7,054)
General administrative expenses (analysed below)	(56,475)	(52,562)
Finance charges (analysed below)	(212)	(240)
Depreciation costs (analysed below)	(164)	(164)
	(111,026)	(103,776)
Other operating income (analysed below)	(592)	16,705
Operating loss	(24,796)	(57,200)
Loss before tax	(24,796)	(57,200)

This page does not form part of the statutory financial statements.

Page 10

Netz Cms Limited

Detailed Profit and Loss Account for the Year Ended 31 December 2018

2018 £

2017 £

Turnover
Product Refunds	86,820	29,868
Interest earned	2	3
	86,822	29,871

Employment costs
Payroll Expenses:Wages	(50,575)	(8,051)
Directors NI	-	(35,705)
	(50,575)	(43,756)

Establishment costs
Rent or Lease of Buildings	(3,600)	(6,965)
Insurance	-	(89)
	(3,600)	(7,054)

General administrative expenses
Telephone and Internet	(138)	(108)
Computer and Other Software	(39,274)	(38,284)
Suspense Account	(8,098)	(1,550)
Entertainment	(117)	(704)
Advertising / Promotional	(4,051)	(9,049)
Legal and professional fees	(4,797)	(2,867)
	(56,475)	(52,562)

Finance charges
Bank charges	(212)	(240)

Depreciation costs
Depreciation	(164)	(164)

Other operating income
Other Miscellaneous Income	(592)	16,705

This page does not form part of the statutory financial statements.

Page 11