Symmetric Networks Limited - Accounts to registrar (filleted) - small 18.2
Symmetric Networks Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2020 |
for |
Symmetric Networks Limited |
Symmetric Networks Limited (Registered number: 07482307) |
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Symmetric Networks Limited (Registered number: 07482307) |
Balance Sheet |
31 March 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
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. |
Symmetric Networks Limited (Registered number: 07482307) |
Balance Sheet - continued |
31 March 2020 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on were signed by: |
Symmetric Networks Limited (Registered number: 07482307) |
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
1. | Statutory information |
Symmetric Networks Limited is a |
Wales. The company's registered number and registered office address are as below: |
Registered number: | 07482307 |
Registered office: | 85 Church Road |
Hove |
East Sussex |
BN3 2BB |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents |
amounts receivable for services rendered, stated net of VAT and discounts. |
When the outcome of a transaction involving the rendering of services can be reliably estimated, |
revenue from the rendering of services is measured by reference to the stage of completion of the |
service transaction at the end of the reporting period. When the outcome of a transaction involving the |
rendering of services cannot be reliably estimated, revenue is recognised only to the extent that |
expenses recognised are recoverable. |
Tangible fixed assets |
Fixtures and fittings | - |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
depreciation and impairment losses. |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the |
contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently |
measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed |
for objective evidence of impairment at the end of each reporting date. If there is objective evidence |
of impairment, an impairment loss is recognised in profit or loss immediately. |
Symmetric Networks Limited (Registered number: 07482307) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, 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 at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised 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 the tax rates and laws that have been enacted or substantively enacted by the reporting |
date that are expected to apply to the reversal of the timing difference. |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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 NIL (2019 - |
Symmetric Networks Limited (Registered number: 07482307) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 April 2019 |
Additions |
Disposals | ( |
) |
At 31 March 2020 |
Depreciation |
At 1 April 2019 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2020 |
Net book value |
At 31 March 2020 |
At 31 March 2019 |
5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Symmetric Networks Limited (Registered number: 07482307) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary A | £1 | 800 | 800 |
Ordinary B | £1 | 200 | 200 |
1,000 | 1,000 |
8. | Director's advances, credits and guarantees |
During the year the company made advances to the director amounting to £4,076 (2019: £18,568). He |
repaid £4,076 (2019: £42,136). At the year end the director owed the company £nil (2019: £nil). The |
advances were made interest free, unsecured and repayable upon demand. |