Abbreviated Company Accounts - MANAGED NETWORKS LIMITED

MANAGED NETWORKS LIMITED - Company Information

02709953 MANAGED NETWORKS LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 02709953 2015-04-01 2016-03-31 02709953 2016-03-31 02709953 2015-03-31 02709953 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 02709953 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass4 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass4 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass4 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass5 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass5 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass5 2015-03-31 iso4217:GBP shares

Registered Number 02709953

MANAGED NETWORKS LIMITED

Abbreviated Accounts

31 March 2016

MANAGED NETWORKS LIMITED Registered Number 02709953

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	290,353	331,967
Tangible assets	3	229,305	302,424
Investments		-	-
		519,658	634,391
Current assets
Debtors		444,231	291,857
Cash at bank and in hand		-	69,171
		444,231	361,028
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year	4	(691,046)	(647,298)
Net current assets (liabilities)		(246,815)	(286,270)
Total assets less current liabilities		272,843	348,121
Creditors: amounts falling due after more than one year	4	(46,116)	(257,792)
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		226,727	90,329
Capital and reserves
Called up share capital	5	27,750	25,000
Share premium account		247,250	-
Profit and loss account		(48,273)	65,329
Shareholders' funds		226,727	90,329

For the year ending 31 March 2016 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 9 September 2016

And signed on their behalf by:
Nick Caplan, Director

MANAGED NETWORKS LIMITED Registered Number 02709953

Notes to the Abbreviated Accounts for the period ended 31 March 2016

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

Tangible assets depreciation policy
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..
- Fixtures, fittings, & equipment - 25% or 20% straight line basis.
- Product enhancements - 20% straight line basis.

Intangible assets amortisation policy
Capitalisation of software development.
Under the provision of FRSSE (effective April 2008), employment costs incurred in the development of software are capitalised and depreciated over their useful economic lives.

2Intangible fixed assets

	£
Cost
At 1 April 2015	416,187
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	416,187
Amortisation
At 1 April 2015	84,220
Charge for the year	41,614
On disposals	-
At 31 March 2016	125,834
Net book values
At 31 March 2016	290,353
At 31 March 2015	331,967

3Tangible fixed assets

	£
Cost
At 1 April 2015	602,641
Additions	68,794
Disposals	(31,020)
Revaluations	-
Transfers	-
At 31 March 2016	640,415
Depreciation
At 1 April 2015	300,217
Charge for the year	136,480
On disposals	(25,587)
At 31 March 2016	411,110
Net book values
At 31 March 2016	229,305
At 31 March 2015	302,424

4Creditors

	2016 £	2015 £
Secured Debts	106,711	315,552

5Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
0 Ordinary shares of £1 each (25,000 shares for 2015)	0	25,000
8,750 A Ordinary shares of £1 each (0 shares for 2015)	8,750	0
8,750 B Ordinary shares of £1 each (0 shares for 2015)	8,750	0
7,500 C Ordinary shares of £1 each (0 shares for 2015)	7,500	0
2,750 D Ordinary shares of £1 each (0 shares for 2015)	2,750	0