BIS-WEB_LIMITED - Accounts

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Freehold land and buildings are shown at cost. No depreciation is charged. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view.

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 the profit and loss account.

As at 31 March 2014 £nil (2013 : £8,390) of the total investments figure represent shares in a participating interest, People Solutions GmbH, incorporated in Germany and in its seventh year of trading. Bis-Web Limited owns 50% of the share capital. During the year to 31 March 2014 the investment was written off as the company is in liquidation.

During the year the company utilised the services of Balanced Learning Limited - a company owned by Mr N.C. Barrett, a director of Bis-Web Limited. The total cost of these services reflected in the accounts is £18,909 (2013 : £17,370). There was an amount of £3,600 (2013 : £nil) owed to Balanced Learning Limited at the end of the year.

Included within other creditors at 31 March 2014 was an amount of £25,000 (2013 : £nil) due to Mr N.C. Barrett, a director of the company.

Mr C.P. Boffin controls Investorcom Limited and Bis-Web People Solutions Limited.

Bis-Web Limited supplied services to Investorcom Limited to the value of £188,581 (2013 : £213,522). At the year end £85,404 (2013 : £250,609) was due from Investorcom Limited and is shown in other debtors. Investorcom Limited also supplies services to Bis-Web Limited and during the year issued invoices to the value of £6,000 (2013 : £6,000). There was an outstanding balance of £nil (2013 : £133,759) at 31 March 2014.

Bis-Web Limited previously made advances to Bis-Web People Solutions Limited. At the year end £nil (2013 : £82,433) was due from Bis-Web People Solutions Limited and is shown in other debtors. Bis-Web People Solutions Limited also supplied services of £103,700 (2013 : £78,500) to Bis-Web Limited. At the year end £23,095 (2013 : £119,929) was outstanding which is included in other creditors. Bis-Web Limited owes £nil (2013 : £28,815) to Bis-Web People Solutions Limited at 31 March 2014.