Abbreviated Company Accounts - GLOBAL NETWORK DEVICE & DEVELOPMENT LTD
Abbreviated Company Accounts - GLOBAL NETWORK DEVICE & DEVELOPMENT LTD
Registered Number 05809466
GLOBAL NETWORK DEVICE & DEVELOPMENT LTD
Abbreviated Accounts
31 December 2013
GLOBAL NETWORK DEVICE & DEVELOPMENT LTD Registered Number 05809466
Abbreviated Balance Sheet as at 31 December 2013
| Notes | 2013 | 2012 | |
|---|---|---|---|
| € | € | ||
| Current assets | |||
| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
( |
( |
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| Net current assets (liabilities) |
( |
( |
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| Total assets less current liabilities |
( |
( |
|
| Total net assets (liabilities) |
( |
( |
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| Capital and reserves | |||
| Called up share capital | 2 |
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| Profit and loss account |
( |
( |
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| Shareholders' funds |
( |
( |
|
For the year ending 31 December 2013 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
And signed on their behalf by:
GLOBAL NETWORK DEVICE & DEVELOPMENT LTD Registered Number 05809466
Notes to the Abbreviated Accounts for the period ended 31 December 2013
1Accounting Policies
Basis of measurement and preparation of accounts
Other accounting policies
These accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), which is a change of accounting policy. There have been no changes to the current and prior year figures as a result of this change.
Going concern
The director has prepared the financial statements on the going concern basis although the balance sheet shows negative shareholders funds of €9,252. This is considered appropriate as the company's shareholders and creditors will continue to provide financial support to the company for the foreseeable future and the company is expecting to make profits in future years that will reverse this position. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.
Compliance with and departure from accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except otherwise stated).
The company has not disclosed the ultimate controlling party which is a requirement of the Financial Reporting Standard for Smaller Entities (effective April 2008). This is a departure from the accounting standard. The director is of the opinion that the non disclosure of this information does not affect the truth and fairness of the financial statements.
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Any deferred tax balance has not been discounted.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into euros at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into euros at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.