Abbreviated Company Accounts - NETWORTHNET LTD

Registered Number 08241216

NETWORTHNET LTD

Abbreviated Accounts

31 December 2015

NETWORTHNET LTD Registered Number 08241216

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	4,188	7,076
		4,188	7,076
Current assets
Debtors		505,057	239,098
Cash at bank and in hand		87,192	368,939
		592,249	608,037
Creditors: amounts falling due within one year		(326,913)	(227,154)
Net current assets (liabilities)		265,336	380,883
Total assets less current liabilities		269,524	387,959
Accruals and deferred income		(2,040)	(22,832)
Total net assets (liabilities)		267,484	365,127
Capital and reserves
Called up share capital		2	2
Profit and loss account		267,482	365,125
Shareholders' funds		267,484	365,127

For the year ending 31 December 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 28 September 2016

And signed on their behalf by:
M McNally, Director

NETWORTHNET LTD Registered Number 08241216

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention , and in accordance with applicable UK accounting standards.

Turnover policy
Revenue is measured at the fair value of the consideration received or receivable.

Revenue from services is recognised when the company’s contractual obligations are performed. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

Interest income is accrued on a time basis, y reference to the principal outstanding and at the interest rate applicable.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful economic life of that asset.

2Tangible fixed assets

	£
Cost
At 1 January 2015	12,135
Additions	1,224
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	13,359
Depreciation
At 1 January 2015	5,059
Charge for the year	4,112
On disposals	-
At 31 December 2015	9,171
Net book values
At 31 December 2015	4,188
At 31 December 2014	7,076