Abbreviated Company Accounts - SKYNET LTD

Abbreviated Company Accounts - SKYNET LTD

SKYNET LTD - Company Information

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Registered Number 04357481

SKYNET LTD

Abbreviated Accounts

31 May 2015

SKYNET LTD Registered Number 04357481

Abbreviated Balance Sheet as at 31 May 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 379,535 379,895
Investments 3 86,395 86,395
465,930 466,290
Current assets
Debtors 120,313 120,401
Cash at bank and in hand 19,466 1,059
139,779 121,460
Creditors: amounts falling due within one year (170,093) (152,645)
Net current assets (liabilities) (30,314) (31,185)
Total assets less current liabilities 435,616 435,105
Provisions for liabilities (224) (296)
Total net assets (liabilities) 435,392 434,809
Capital and reserves
Called up share capital 4 450,000 450,000
Profit and loss account (14,608) (15,191)
Shareholders' funds 435,392 434,809
  • For the year ending 31 May 2015 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 February 2016

And signed on their behalf by:
MR M R BHOJANI, Director

SKYNET LTD Registered Number 04357481

Notes to the Abbreviated Accounts for the period ended 31 May 2015

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 total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Fixtures, fittings and equipment - 12.5% straight line

2Tangible fixed assets
£
Cost
At 1 June 2014 401,267
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2015 401,267
Depreciation
At 1 June 2014 21,372
Charge for the year 360
On disposals -
At 31 May 2015 21,732
Net book values
At 31 May 2015 379,535
At 31 May 2014 379,895

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

4Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
450,000 Ordinary shares of £1 each 450,000 450,000

5Transactions with directors

Name of director receiving advance or credit: MR M R BHOJANI
Description of the transaction: Interest free loan
Balance at 1 June 2014: £ 9,589
Advances or credits made: £ 281
Advances or credits repaid: -
Balance at 31 May 2015: £ 9,870
Name of director receiving advance or credit: MRS A B Bhojani
Description of the transaction: Interest free loan
Balance at 1 June 2014: £ 9,589
Advances or credits made: £ 281
Advances or credits repaid: -
Balance at 31 May 2015: £ 9,870
Name of director receiving advance or credit: MR S H BHOJANI
Description of the transaction: Interest free loan
Balance at 1 June 2014: £ 9,589
Advances or credits made: £ 281
Advances or credits repaid: -
Balance at 31 May 2015: £ 9,870
Name of director receiving advance or credit: MR Z A Y BHOJANI
Description of the transaction: Interest free loan
Balance at 1 June 2014: £ 9,590
Advances or credits made: £ 281
Advances or credits repaid: -
Balance at 31 May 2015: £ 9,871