Ecommnet Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03681636 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Ecommnet Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr R J Campbell

Ms E Parker

SECRETARY:

Mr R J Campbell

REGISTERED OFFICE:

Coburg House

1 Coburg Street

Gateshead

Tyne and Wear

NE8 1NS

REGISTERED NUMBER:

03681636 (England and Wales)

ACCOUNTANTS:

RHK Business Advisers LLP

Chartered Accountants

and Business Advisers

Coburg House

1 Coburg Street

Gateshead

Tyne & Wear

NE8 1NS

FIXED ASSETS

Tangible assets

2

2,851

4,506

CURRENT ASSETS

Debtors

67,749

98,072

Cash at bank and in hand

43,574

107,849

111,323

205,921

CREDITORS

Amounts falling due within one year

160,304

198,673

NET CURRENT (LIABILITIES)/ASSETS

(48,981

)

7,248

TOTAL ASSETS LESS CURRENT
LIABILITIES

(46,130

)

11,754

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

(46,134

)

11,750

SHAREHOLDERS' FUNDS

(46,130

)

11,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 July 2016 and were signed on its behalf by:

Mr R J Campbell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors recognised the company is in an insolvent position at the balance sheet date, but are confident

that during the forthcoming year the company will become solvent. Based on the continued support of the

creditors, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised

in respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the

timing differences are expected to reverse, based on tax rates and laws that have been enacted by the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

Operating leases

Rentals paid under operating leases are charged to the profit and loss account in the year to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

31,069

Additions

639

At 31 December 2015

31,708

DEPRECIATION

At 1 January 2015

26,563

Charge for year

2,294

At 31 December 2015

28,857

NET BOOK VALUE

At 31 December 2015

2,851

At 31 December 2014

4,506

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

4

Ordinary

£1

4