Netphobia Limited - Period Ending 2014-06-30

Registration number: 03783504

Netphobia Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Sandy Lloyd, AIMS Accountants for Business
Chartered Accountant
107 Humber Doucy Lane
Ipswich
Suffolk
IP4 3NU

Netphobia Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Netphobia Limited
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Netphobia Limited for the year ended 30 June 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Netphobia Limited, as a body, in accordance with the terms of our engagement letterdated 27 October 2008. Our work has been undertaken solely to prepare for your approval the accounts of Netphobia Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Netphobia Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Netphobia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Netphobia Limited. You consider that Netphobia Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Netphobia Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Sandy Lloyd, AIMS Accountants for Business
Chartered Accountant
107 Humber Doucy Lane
Ipswich
Suffolk
IP4 3NU

27 March 2015

Page 1

Netphobia Limited
(Registration number: 03783504)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,152			2,870
Current assets
Debtors					6,382			4,282
Cash at bank and in hand					2,549			5,756
					8,931			10,038
Creditors: Amounts falling due within one year					(9,945)			(11,437)
Net current liabilities					(1,014)			(1,399)
Total assets less current liabilities					1,138			1,471
Provisions for liabilities					(431)			(575)
Net assets					707			896
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					705			894
Shareholders' funds					707			896

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 27 March 2015

.........................................
Mr Simon Gleen
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Netphobia Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Netphobia Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		12,798			12,798
At 30 June 2014		12,798			12,798
Depreciation
At 1 July 2013		9,928			9,928
Charge for the year		718			718
At 30 June 2014		10,646			10,646
Net book value
At 30 June 2014		2,152			2,152
At 30 June 2013		2,870			2,870

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Simon Gleen
Director's loan account	(5,620)	-	1,213	-

Page 4