NetMC Marine Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04078681 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2014

for

NetMC Marine Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M P Butterworth

J Kinmond

SECRETARY:

Mrs A Kinmond

REGISTERED OFFICE:

260 The High Street

Dorking

Surrey

RH4 1QT

REGISTERED NUMBER:

04078681 (England and Wales)

ACCOUNTANTS:

Alpha Business Services Limited

Chartered Accountant

Inverebrie

Ellon

Aberdeenshire

AB41 8PX

FIXED ASSETS

Tangible assets

2

457,102

197,287

CURRENT ASSETS

Stocks

161,106

112,215

Debtors

489,010

868,155

Cash at bank and in hand

763,824

513,915

1,413,940

1,494,285

CREDITORS

Amounts falling due within one year

336,419

270,592

NET CURRENT ASSETS

1,077,521

1,223,693

TOTAL ASSETS LESS CURRENT LIABILITIES

1,534,623

1,420,980

PROVISIONS FOR LIABILITIES

13,069

16,015

NET ASSETS

1,521,554

1,404,965

CAPITAL AND RESERVES

Called up share capital

3

3,500

3,500

Profit and loss account

1,518,054

1,401,465

SHAREHOLDERS' FUNDS

1,521,554

1,404,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 June 2015 and were signed on its behalf by:

J Kinmond - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

268,746

Additions

284,344

Transfer to ownership

108,320

At 30 September 2014

661,410

DEPRECIATION

At 1 October 2013

71,459

Charge for year

24,529

Transfer to ownership

108,320

At 30 September 2014

204,308

NET BOOK VALUE

At 30 September 2014

457,102

At 30 September 2013

197,287

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

3,500

Ordinary

£1

3,500

3,500