Supernet IT Limited - Accounts to registrar (filleted) - small 18.2

Supernet IT Limited - Accounts to registrar (filleted) - small 18.2

SUPERNET IT LIMITED - Company Information

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REGISTERED NUMBER: 06864575 (England and Wales)






















Unaudited Financial Statements

for the Period 30 March 2018 to 27 March 2019

for

Supernet IT Limited
Supernet IT Limited (Registered number: 06864575)






Contents of the Financial Statements
for the period 30 March 2018 to 27 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

Supernet IT Limited

Company Information
for the period 30 March 2018 to 27 March 2019







DIRECTOR: Mr J M Coyle





REGISTERED OFFICE: St Georges Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE





REGISTERED NUMBER: 06864575 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE
Page 1
Supernet IT Limited (Registered number: 06864575)

Balance Sheet
27 March 2019

2019 2018
Notes £    £   
CURRENT ASSETS
Stocks 309,314 274,032
Debtors 4 105,174 67,839
Cash at bank 2,883 10,025
417,371 351,896
CREDITORS
Amounts falling due within one year 5 444,394 401,628
NET CURRENT LIABILITIES (27,023 ) (49,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(27,023
)
(49,732
)

CAPITAL AND RESERVES
Called up share capital 6 3 3
Retained earnings (27,026 ) (49,735 )
SHAREHOLDERS' FUNDS (27,023 ) (49,732 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 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 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 director on 25 March 2020 and were signed by:





Mr J M Coyle - Director


The notes form part of these financial statements

Page 2
Supernet IT Limited (Registered number: 06864575)

Notes to the Financial Statements
for the period 30 March 2018 to 27 March 2019

1. STATUTORY INFORMATION

Supernet IT 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 (£).


The company's year end was shortened to 27 March 2019.

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 on a going concern basis which assumes that the company will continue in
operational existence for the foreseeable future. The validity of this assumption depends on the continued support of its
creditors. Whilst no formal agreement is in place to defer payment to more than one year, the director is confident that the
creditors will not call upon their debt within one year. The director believes that it is therefore appropriate for the financial
statements to be prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset
and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of
each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - Straight line over 6 years

Stocks and long term contracts
Where the outcome of long term contracts can be estimated reliably, income and associated costs are recognised by reference
to the stage of completion. This is measured by the proportion of contracted costs incurred to date in relation to the estimated
total costs of the project.

When it is probable that the total contract costs will exceed total contract income, the expected loss is recognised
immediately in full.

Excess payments on account over income are deducted from any balance on the contract in stocks, with any residual balance
shown within creditors.

Taxation
Taxation for the period 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 period 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.

Page 3 continued...
Supernet IT Limited (Registered number: 06864575)

Notes to the Financial Statements - continued
for the period 30 March 2018 to 27 March 2019

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from
impairment are recognised in the Income Statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 March 2018
and 27 March 2019 1,500
DEPRECIATION
At 30 March 2018
and 27 March 2019 1,500
NET BOOK VALUE
At 27 March 2019 -

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other debtors 105,174 67,839

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 55,888 45,598
Other creditors 388,506 356,030
444,394 401,628

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
3 Ordinary £1 3 3

Page 4
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Supernet IT Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not
required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of Supernet IT Limited for the period ended 27 March 2019 which comprise the Income Statement, Balance Sheet,
Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Supernet IT Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Supernet IT Limited and state those matters that we have agreed to state to the director of Supernet IT Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Supernet IT Limited and its director for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Supernet IT 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 financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


25 March 2020

This page does not form part of the statutory financial statements

Page 5