Netmaid Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03948288 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

NETMAID LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr J G Powell

Registered office:

305 Regents Park Road

Finchley

London

N3 1DP

Registered number:

03948288 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Current assets

Cash at bank and in hand

19,690

11,360

Creditors

Amounts falling due within one year

4

8,628

11,306

Net current assets

11,062

54

Total assets less current liabilities

11,062

54

Capital and reserves

Called up share capital

5

2

2

Retained earnings

11,060

52

Shareholders' funds

11,062

54

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 11 April 2019 and were signed by:

Mr J G Powell - Director

1.	Statutory information

Netmaid Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the presumption that the company is carrying on business

as a going concern. This is based on the confirmation received from the director that financial and other

support will continue to be provided to the extent necessary to enable the company to continue to trade and

meet its financial obligations for the foreseeable future.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out

by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as

possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out

by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible,

there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are

as accurate as possible, there remains a risk that the provisions do not match the level of debts which

ultimately prove to be uncollectable.

Turnover

Turnover is measured at the fair value of consultancy income received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 1 (2018 - 1 ) .

4.

Creditors: amounts falling due within one year

2019

2018

£

£

Taxation and social security

3,520

1,574

Other creditors

5,108

9,732

8,628

11,306

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2