BLUE_LATITUDE_NETWORK_LIM - Accounts

BLUE LATITUDE NETWORK LIMITED - Company Information

Print Friendly Version

Company Registration No. 04663183 (England and Wales)

BLUE LATITUDE NETWORK LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2015

Abbey House

Hickleys Court

South Street

Farnham

GU9 7QQ

BLUE LATITUDE NETWORK LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

BLUE LATITUDE NETWORK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

169,539

151,418

Current assets

Debtors

1,383,103

1,197,966

Cash at bank and in hand

988,051

472,072

2,371,154

1,670,038

Creditors: amounts falling due within one year

(1,222,973)

(912,228)

Net current assets

1,148,181

757,810

Total assets less current liabilities

1,317,720

909,228

Provisions for liabilities

(32,771)

(30,408)

1,284,949

878,820

Capital and reserves

Called up share capital

1,004

Profit and loss account

1,283,945

877,816

Shareholders' funds

1,284,949

878,820

BLUE LATITUDE NETWORK LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 May 2016

Mr. R Bassett

Director

Company Registration No. 04663183

BLUE LATITUDE NETWORK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with 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 as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Leasehold improvements

over the period of the lease

1.5

Pensions

The company operates a defined contribution scheme for employees. The assets of the scheme are held separately from those of the company.

1.6

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. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.8

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.

BLUE LATITUDE NETWORK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

354,114

Additions

52,460

At 31 December 2015

406,574

Depreciation

At 1 January 2015

202,696

Charge for the year

34,339

At 31 December 2015

237,035

Net book value

At 31 December 2015

169,539

At 31 December 2014

151,418

Debtors

Debtors include an amount of £56,565 (2014 - £56,565) which is due after more than one year.

Share capital

2015

2014

Allotted, called up and fully paid

1,000 A Ordinary of £1 each

1,000

2 B Ordinary of £1 each

2 C Ordinary of £1 each

1,004