NEWSTEAD NETWORK SOLUTIONS LIMITED - UNAUDITED ABBREVIATED ACCOUNTS
NEWSTEAD NETWORK SOLUTIONS LIMITED - UNAUDITED ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED | |||||||
Company Registration Number | |||||||
MayL | |||||||
UNAUDITED ABBREVIATED ACCOUNTS | |||||||
Matthew Paul Joseph Newstead | |||||||
Registered Address | NEWSTEAD NETWORK SOLUTIONS LIMITED | ||||||
BRUNEL HOUSE 340 FIRECREST COURT | |||||||
CENTRE PARK | |||||||
WARRINGTON | |||||||
WA1 1RG | |||||||
FOR THE PERIOD ENDED | |||||||
---|---|---|---|---|---|---|---|
ABBREVIATED BALANCE SHEET | |||||||
CY | PY | ||||||
Note | |||||||
Fixed assets | |||||||
Tangible fixed assets | 2 | ||||||
Investments | |||||||
Current assets | |||||||
Stock | |||||||
Debtors | 6,612 | 5,220 | |||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | ( | ( | |||||
Net current assets/(liabilities) | |||||||
Creditors: amounts falling due after more than one year | |||||||
Net assets/(liabilities) | |||||||
Capital and reserves | |||||||
Called up share capital | 3 | ||||||
Profit and loss account | |||||||
Shareholders' funds/(deficit) | |||||||
These financial statements were approved and signed by the director and authorised for issue on | |||||||
These financial statements were approved and signed by the director and authorised for issue on | |||||||
Director of | |||||||
Company Registration No: | |||||||
The notes on pages 3 to 5 form part of these financial statements |
FOR THE PERIOD ENDED | |||||||
---|---|---|---|---|---|---|---|
NOTES TO THE ABBREVIATED ACCOUNTS | |||||||
1. Accounting policies | |||||||
Basis of accounting | |||||||
Turnover | |||||||
Tangible fixed assets | |||||||
Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition. | |||||||
Depreciation | |||||||
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows: | |||||||
Fixtures & fittings - 15% reducing balance | |||||||
Office equipment - 33% straight line | |||||||
Stocks | |||||||
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. | |||||||
Foreign currency | |||||||
Transactions in foreign currency are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. | |||||||
Pension costs | |||||||
The company operates a defined contribution pension scheme and the pension cost charge represents the contributions payable by the company to the fund in respect of the period. The assets of the scheme are held separately from those of the company in an independently administered fund. | |||||||
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, with the following exceptions: | |||||||
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. | |||||||
FOR THE PERIOD ENDED | |||||||
---|---|---|---|---|---|---|---|
NOTES TO THE ABBREVIATED ACCOUNTS | |||||||
1. Accounting policies (continued) | |||||||
Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. | |||||||
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. | |||||||
Going concern | |||||||
The director reviews the financial position of the company from the date of approval of the accounts on an ongoing basis, and concludes that the company is able to meet all its liabilities as they fall due. | |||||||
2. Fixed assets | |||||||
Cost | Plant & Machinery etc. | ||||||
At beginning of the period | |||||||
Additions | |||||||
Disposals | |||||||
At end of the period | 1,249 | ||||||
Depreciation | |||||||
At beginning of the period | |||||||
Depreciation charge for the period | |||||||
Depreciation on disposals | |||||||
At end of the period | 410 | ||||||
Net book value | |||||||
At end of period | 838 | ||||||
At beginning of period | |||||||
3. Share capital | |||||||
Allotted, called up and fully paid: | 2015 | 2014 | |||||
No. | £ | No. | £ | ||||
1 | |||||||
1.00 | 1.00 | ||||||
FOR THE PERIOD ENDED | |||||||
---|---|---|---|---|---|---|---|
NOTES TO THE ABBREVIATED ACCOUNTS | |||||||
4. Transactions with Directors | |||||||
DLA note | CY | PY | |||||
Balance brought forward | 0 | 0 | |||||
Advances granted by the company to its director(s) | 0 | 0 | |||||
Credits granted to the director(s) | 0 | 0 | |||||
Balance carried forward | 0 | 0 | |||||
The directors loan was interest free and had no fixed date for repayment. | |||||||
Total dividends paid to the directors in the period were £33,836 (and for the prior period £28,503). | |||||||
5. Control | |||||||
Throughout the period the company was controlled by director and shareholder | |||||||
DETAILED PROFIT AND LOSS ACCOUNT | |||||||
Turnover | |||||||
Cost of Sales | |||||||
Purchases | |||||||
Subcontractor costs | |||||||
Gross Profit | |||||||
Administrative expenses | |||||||
Wages and salaries | |||||||
Employer's NI | |||||||
Employer's pension contributions | |||||||
Insurance | |||||||
Rent & rates | |||||||
Light & heat | |||||||
Travel and subsistence | |||||||
Professional fees | |||||||
Depreciation | |||||||
(Profit)/loss on disposal of fixed assets | |||||||
Office expenses | |||||||
Advertising, printing, stationery & postage | |||||||
Entertainment | |||||||
Donations | |||||||
Bank charges | |||||||
Bad debts | |||||||
Operating profit/(loss) | |||||||
Bank interest receivable | |||||||
Bank interest payable | |||||||
Profit/(loss) on ordinary activities | |||||||
Interest receivable (Cr bal) | |||||||
Interest receivable (Dr bal) | |||||||
Interest payable (Dr bal) | |||||||
Interest payable (Cr bal) | |||||||
Trade Debtors (Dr bal) | |||||||
Trade Debtors (Cr bal) | |||||||
Credit Card control (Dr bal) | |||||||
Credit Card control (Cr bal) | |||||||
Corporation Tax (Dr bal) | |||||||
Corporation Tax (Cr bal) | |||||||
Vat (Dr bal) | |||||||
Vat (Cr bal) | |||||||
ST codes (Dr bal) | |||||||
ST codes (Cr bal) | |||||||
Trade Creditors (Dr bal) | |||||||
Trade Creditors (Cr bal) | |||||||
Longterm Loan Creditor (Dr bal) | |||||||
Longterm Loan Creditor (Cr bal) | |||||||
PAYE (Dr bal) | |||||||
PAYE (Cr bal) | |||||||
Bank Transfer (Dr bal) | |||||||
Bank Transfer (Cr bal) | |||||||
Pension Control (Dr bal) | |||||||
Pension Control (Cr bal) | |||||||
Yearend Adjustments (Dr bal) | |||||||
Yearend Adjustments (Cr bal) | |||||||
Migration Suspense (Dr bal) | |||||||
Migration Suspense (Cr bal) | |||||||
Other Debtors (Dr bal) | |||||||
Other Debtors (Cr bal) | |||||||
Personal Withdrawals (Dr bal) | |||||||
Personal Withdrawals (Cr bal) | |||||||
CIS (Dr bal) | |||||||
CIS (Cr bal) | |||||||
S419 (Dr bal) | |||||||
S419 (Cr bal) | |||||||
Non FRV Clearance (Dr bal) | |||||||
Non FRV Clearance (Cr bal) | |||||||
Bank loans due <1 year (Dr bal) | |||||||
Bank loans due <1 year (Cr bal) | |||||||
HP/Finance <1 year (Dr bal) | |||||||
HP/Finance <1 year (Cr bal) | |||||||
Other Creditors (Dr bal) | |||||||
Other Creditors (Cr bal) | |||||||
Longterm Lease (Dr bal) | |||||||
Longterm Lease (Cr bal) | |||||||
Professional Fees | |||||||
P&L Rounding difference to go through prof fees | |||||||
Rounding Difference calc a | |||||||
Rounding Difference calc a | |||||||
Rounding Difference calc b | |||||||
Profit | |||||||
Profit1 | |||||||
Profit2 | |||||||
Other Taxation Debtors | |||||||
Other Finance Debtors | |||||||
Other Debtor Balances | |||||||
Other Taxation Creditors | |||||||
Other Finance Creditors | |||||||
Other Creditor Balances | |||||||
Sum of admin expenes less professional fee | |||||||
Sum of admin expenes less professional fee | |||||||
PROFIT AND LOSS ACCOUNT | |||||||
Turnover | |||||||
Cost of sales | |||||||
Gross profit | |||||||
Administrative expenses | |||||||
Operating profit/(loss) | |||||||
Interest receivable | |||||||
Interest payable and similar charges | |||||||
Profit/(loss) on ordinary activities before taxation | |||||||
Tax on profit/(loss) on ordinary activities | |||||||
Profit/(loss) for the financial period | |||||||
xx. Operating profit | |||||||
Operating profit is stated after charging/(crediting): | |||||||
Depreciation of owned fixed assets | |||||||
Depreciation of leased fixed assets | |||||||
Profit/(loss) on disposal of fixed assets | |||||||
Director's remuneration | |||||||
Director's pension contribution | |||||||
The number of directors accruing benefits under a defined contribution scheme | |||||||
was 1 for current period (and 0 for prior period). | |||||||
xx. Taxation on ordinary activities | |||||||
Analysis of tax charge in the period: | |||||||
UK corporation tax | |||||||
Tax under/(over) provided in previous years | |||||||
xx. Dividends | |||||||
Paid during the period | |||||||
Dividends paid on ordinary shares | |||||||
xx. Debtors | |||||||
Trade debtors | |||||||
Directors loan account | |||||||
Other debtors | |||||||
xx. Creditors | |||||||
Amounts falling due within one year: | |||||||
Bank loans | |||||||
Bank overdrafts | |||||||
Obligations under finance leases and hire purchase contracts | |||||||
Director's loan account | |||||||
Trade creditors | |||||||
Corporation tax | |||||||
Other tax and social security | |||||||
Other creditors | |||||||
Amounts falling due after more than one year: | |||||||
Loans | |||||||
Obligations under finance leases and hire purchase contracts | |||||||
Total Liabilities falling due after more than one year | |||||||
Loans repayable, included in creditors, are analysed as follows: | |||||||
Wholly repayable within five years | |||||||
Wholly repayable in more than five years | |||||||
Total Loans repayable after one year | |||||||
xx. Related party transactions | |||||||
xx. Profit and loss account | |||||||
Balance brought forward | |||||||
Profit/(loss) for the financial period | |||||||
Dividends | |||||||
Balance carried forward | |||||||
xx. Reconciliation of movements in shareholders' funds | |||||||
Profit/(loss) for the financial period | |||||||
New share capital subscribed | |||||||
Dividends | |||||||
Net addition to shareholders' funds | |||||||
Shareholders' funds brought forward | |||||||
Closing shareholders' funds |