Abbreviated Company Accounts - NTW TRADING LIMITED

NTW TRADING LIMITED - Company Information

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Registered Number 05399445

NTW TRADING LIMITED

Abbreviated Accounts

31 December 2014

NTW TRADING LIMITED Registered Number 05399445

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		€	€
Fixed assets
Tangible assets	2	28,771	20,889
		28,771	20,889
Current assets
Stocks		800	-
Debtors		775,084	610,274
Cash at bank and in hand		10,942	16,348
		786,826	626,622
Creditors: amounts falling due within one year		(665,187)	(569,644)
Net current assets (liabilities)		121,639	56,978
Total assets less current liabilities		150,410	77,867
Total net assets (liabilities)		150,410	77,867
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		149,410	76,867
Shareholders' funds		150,410	77,867

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 September 2015

And signed on their behalf by:
R S CHAPMAN, Director

NTW TRADING LIMITED Registered Number 05399445

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the fair value of goods and services provided, excluding value added tax, during the year.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery - 33.33% straight line basis per annum

Other accounting policies
Fixed Assets
All fixed assets are initially recorded at cost.

Work in Progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign Currencies
The figures in the accounts are quoted in Euros.

Assets and liabilities in foreign currencies are translated into Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euros at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets

	€
Cost
At 1 January 2014	186,017
Additions	13,445
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	199,462
Depreciation
At 1 January 2014	165,128
Charge for the year	5,563
On disposals	-
At 31 December 2014	170,691
Net book values
At 31 December 2014	28,771
At 31 December 2013	20,889

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 €	2013 €
1,000 Ordinary shares of €1 each	1,000	1,000

4Transactions with directors

Name of director receiving advance or credit:	See additional information below
Description of the transaction:	Loan
Balance at 1 January 2014:	€ 1
Advances or credits made:	-
Advances or credits repaid:	€ 1
Balance at 31 December 2014:	€ 0

During the year the company provided MBP Trading Limited, a company under the same common control as NTW Trading Limited, with a loan in respect of a sales ledger balance, balance outstanding at the year end €724,321 (2013 - €580,242). This loan has been provided interest free and has no formal repayment terms.

During the year the company provided goods and services on an arms' length basis to the value of €681,400 (2013 - €657,122) to MBP Trading Limited.

Ultimate Parent Company

The company's immediate parent company is WTN LLC a company registered in the USA. The ultimate controlling party is not known.