Net Expectations Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05667761 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Net Expectations Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A A Gill

T Gill

SECRETARY:

A A Gill

REGISTERED OFFICE:

2 Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

REGISTERED NUMBER:

05667761 (England and Wales)

ACCOUNTANTS:

Fisher & Company Limited

Kingfisher House

65 Market Place

Market Weighton

York

East Riding of Yorks

YO43 3AN

FIXED ASSETS

Investments

3

100

100

CURRENT ASSETS

Debtors

4

-

10,000

Cash at bank and in hand

398

64,932

398

74,932

CREDITORS

Amounts falling due within one year

5

5,532

5,258

NET CURRENT (LIABILITIES)/ASSETS

(5,134

)

69,674

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,034

)

69,774

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(5,234

)

69,574

SHAREHOLDERS' FUNDS

(5,034

)

69,774

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 directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

A A Gill - Director

T Gill - Director

1.	STATUTORY INFORMATION

Net Expectations 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.

No material uncertainties that may cast doubt about the ability of the company to continue as a going concern

have been identified by the directors.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates

and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on the directors historical experience and

knowledge as well as other factors which may be considered relevant, as a result the actual results may differ

from these estimates.

The estimates and underlying assumptions applied are reviewed by the directors on an ongoing basis.

Revisions to these accounting estimates are recognised in the period to which the the revisions have been ,

revised where these revisions affect only that period, or in the period of revision and future periods where this

revision would affect both current and future periods.

Current and deferred taxation

Taxation expenses for the year comprises current and deferred tax recognised in the reporting period. 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 represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated

in the financial statements that arise from the inclusion of the income and expense in the assessments in periods

different from those in which they are recognised in the financial statements.

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.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance

sheet date that are expected to apply to the reversal of timing differences.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

100

NET BOOK VALUE

At 31 March 2019

100

At 31 March 2018

100

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

-

10,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

5,233

4,883

Other creditors

299

375

5,532

5,258

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

One of the directors operated a current account facility with the company during the year, the facility has been

provided on an unsecured basis is provided interest free and remains repayable on demand.

2019

2018

£

£

Balance brought forward

-

22,500

Amounts advanced

-

-

Amounts repaid

-

(22,500

)

Balance carried forward

-

-

7.	RELATED PARTY DISCLOSURES

The company operated a current account with its subsidiary undertaking, the facility has been provided on an

unsecured basis is interest free and remains repayable on demand.

£

Balance owed to the company brought forward

4,883

Amounts advanced

350

Balance owed by the company carried forward

5,233

8.	ULTIMATE CONTROLLING PARTY