Managed Network Communications Limited Filleted accounts for Companies House (small and micro)

MANAGED NETWORK COMMUNICATIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04996539

Managed Network Communications Limited

Filleted Unaudited Abridged Financial Statements

30 June 2020

Managed Network Communications Limited

Abridged Statement of Financial Position

30 June 2020

	2020		2019
Note	£	£	£

Current assets

Debtors	44,874	29,759
Cash at bank and in hand	1,079	3,609
	--------	--------
	45,953	33,368

Creditors: amounts falling due within one year	45,887		33,533
	--------		--------
Net current assets/(liabilities)		66	( 165)
		----	----
Total assets less current liabilities		66	( 165)
		----	----
Net assets/(liabilities)		66	( 165)
		----	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	65	( 166)
	----	----
Shareholders funds/(deficit)	66	( 165)
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Managed Network Communications Limited

Abridged Statement of Financial Position (continued)

30 June 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 29 January 2021 , and are signed on behalf of the board by:

K Evans
Director

Company registration number: 04996539

Managed Network Communications Limited

Notes to the Abridged Financial Statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hadleigh Business Centre, Hadleigh, Benfleet, SS7 2BT, Essex.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	33% straight line

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	£
Cost
At 1 July 2019 and 30 June 2020	842
	----
Depreciation
At 1 July 2019 and 30 June 2020	842
	----
Carrying amount
At 30 June 2020	–
	----
At 30 June 2019	–
	----

5. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
K Evans	19,493	16,053	35,546
	--------	--------	--------

	2019
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
K Evans	–	19,493	19,493
	----	--------	--------

6. Related party transactions

The company was under the control of Mr K Evans throughout the current and previous year. Mr Evans is the sole director and shareholder. At the year-end the company owes £28,181 (2019: £4,222) to companies under common control. During the year the company also made sales of £3,228 to (2019: £1,079), purchases of £Nil (2019: £Nil) and charged management charges of £107,411 (2019: £82,867) to companies under common control.