Netgeneration Limited - Period Ending 2014-12-31

Registration number: 04988341

Netgeneration Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Netgeneration Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Netgeneration Limited
(Registration number: 04988341)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					222			95
Current assets
Stocks					1,634			2,525
Debtors					316			1,475
Cash at bank and in hand					1,565			3,064
					3,515			7,064
Creditors: Amounts falling due within one year					(16,014)			(16,730)
Net current liabilities					(12,499)			(9,666)
Net liabilities					(12,277)			(9,571)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(12,377)			(9,671)
Shareholders' deficit					(12,277)			(9,571)

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 director acknowledges his 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 10 September 2015

.........................................
Mr D Jarrett
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Netgeneration Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	20% Reducing Balance Method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.

Page 2

Netgeneration Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		520			520
Additions		183			183
At 31 December 2014		703			703
Depreciation
At 1 January 2014		425			425
Charge for the year		56			56
At 31 December 2014		481			481
Net book value
At 31 December 2014		222			222
At 31 December 2013		95			95

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3