Southern IT Networks Limited - Accounts to registrar (filleted) - small 18.2
Southern IT Networks Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| SOUTHERN IT NETWORKS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| SOUTHERN IT NETWORKS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 20 Eversley Road |
| Bexhill-on-Sea |
| East Sussex |
| TN40 1HE |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| BALANCE SHEET |
| 31ST MAY 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium |
| Capital redemption reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| BALANCE SHEET - continued |
| 31ST MAY 2019 |
| 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 signed on its behalf by: |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 1. | STATUTORY INFORMATION |
| Southern IT Networks Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Fixtures, fittings & equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. 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 is recognised at the amount of tax payable using the tax rates and laws that have |
| been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not |
| reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in |
| periods different from those in which they are recognised in financial statements. Deferred tax |
| is measured using tax rates and laws that have been enacted or substantively enacted by the |
| year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
| the period of the lease. |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings | Motor |
| & equipment | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st June 2018 |
| Additions |
| At 31st May 2019 |
| DEPRECIATION |
| At 1st June 2018 |
| Charge for year |
| At 31st May 2019 |
| NET BOOK VALUE |
| At 31st May 2019 |
| At 31st May 2018 |
| 5. | STOCKS |
| 2019 | 2018 |
| £ | £ |
| Finished goods |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 6,332 | - |
| Tax |
| Prepayments |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other loans |
| Trade creditors |
| Social security and other taxes |
| VAT | 18,033 | 10,163 |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other loans - 1-2 years | 14,396 | 13,169 |
| Other loans - 2-5 years |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 90 | 90 |
| Ordinary A | £1 | 90 | 90 |
| 180 | 180 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st May 2019 |
| and 31st May 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| SOUTHERN IT NETWORKS LIMITED (REGISTERED NUMBER: 04762610) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The directors operate current accounts with the company which result from monies introduced |
| and undrawn remuneration. The balance due from the directors as at 31 May 2019 amounted to |
| £6,332. |
| Interest is charged at 2.5% on the directors current accounts that are owing to the company. |
| 12. | RELATED PARTY DISCLOSURES |
| Other Debtors of £13,000 (2018 - £13,000) represents a loan to a business in which a person |
| connected to a director is the proprietor. No interest is charged on the loan which is repayable |
| on demand. |