Abbreviated Company Accounts - NETWATCH SYSTEM LIMITED

NETWATCH SYSTEM LIMITED - Company Information

NI617876 NETWATCH SYSTEM LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true NI617876 2015-01-01 2015-12-31 NI617876 2015-12-31 NI617876 2014-12-31 NI617876 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 NI617876 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number NI617876

NETWATCH SYSTEM LIMITED

Abbreviated Accounts

31 December 2015

NETWATCH SYSTEM LIMITED Registered Number NI617876

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	349,911	-
		349,911	-
Current assets
Debtors		553,643	25,115
Cash at bank and in hand		2,212	500,000
		555,855	525,115
Creditors: amounts falling due within one year		(420,964)	(113,414)
Net current assets (liabilities)		134,891	411,701
Total assets less current liabilities		484,802	411,701
Creditors: amounts falling due after more than one year		(463,026)	(413,451)
Total net assets (liabilities)		21,776	(1,750)
Capital and reserves
Called up share capital	3	95	95
Profit and loss account		21,681	(1,845)
Shareholders' funds		21,776	(1,750)

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 27 September 2016

And signed on their behalf by:
Niall Kelly, Director
David Walsh, Director

NETWATCH SYSTEM LIMITED Registered Number NI617876

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 the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible assets depreciation policy
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the assets to the location and conditions necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:
Long-term leasehold property - 10% straight line
Fixtures and fittings - 15% straight line

2Tangible fixed assets

	£
Cost
At 1 January 2015	0
Additions	372,316
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	372,316
Depreciation
At 1 January 2015	0
Charge for the year	22,405
On disposals	-
At 31 December 2015	22,405
Net book values
At 31 December 2015	349,911
At 31 December 2014	0

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
95 Ordinary shares of £1 each	95	95