NetNodes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06520034 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

NetNodes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Johnson

REGISTERED OFFICE:

Coed-Y-Dwr

Old Walls

Llanrhidian

Swansea

SA3 1HA

REGISTERED NUMBER:

06520034 (England and Wales)

ACCOUNTANTS:

Magnes Accountants Limited

52 Fruitlands

Malvern Wells

Worcestershire

WR14 4XA

FIXED ASSETS

Intangible assets

4

366,590

319,080

Tangible assets

5

2,122

2,280

368,712

321,360

CURRENT ASSETS

Stocks

15,000

22,000

Debtors

6

12,867

84,773

Cash at bank

31,471

16,532

59,338

123,305

CREDITORS

Amounts falling due within one year

7

102,470

121,453

NET CURRENT (LIABILITIES)/ASSETS

(43,132

)

1,852

TOTAL ASSETS LESS CURRENT LIABILITIES

325,580

323,212

CREDITORS

Amounts falling due after more than one year

8

56,943

41,229

NET ASSETS

268,637

281,983

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

267,637

280,983

SHAREHOLDERS' FUNDS

268,637

281,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2021 and were signed by:

S J Johnson - Director

1.	STATUTORY INFORMATION

NetNodes 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.

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.

Turnover

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

Intangible assets

Intangible assets represents development costs capitalised

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2019

364,900

Additions

84,000

At 30 June 2020

448,900

AMORTISATION

At 1 July 2019

45,820

Charge for year

36,490

At 30 June 2020

82,310

NET BOOK VALUE

At 30 June 2020

366,590

At 30 June 2019

319,080

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

5,276

Additions

1,005

At 30 June 2020

6,281

DEPRECIATION

At 1 July 2019

2,996

Charge for year

1,163

At 30 June 2020

4,159

NET BOOK VALUE

At 30 June 2020

2,122

At 30 June 2019

2,280

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

12,867

84,119

Other debtors

-

654

12,867

84,773

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

80,608

102,500

Taxation and social security

16,268

11,532

Other creditors

5,594

7,421

102,470

121,453

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

56,943

41,229