Network Partnership Limited - Period Ending 2016-03-31

Registration number: 07186480

Network Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Network Partnership Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Network Partnership Limited
(Registration number: 07186480)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					-			76,682
Tangible fixed assets		2			5			5
					5			76,687
Current assets
Debtors					8,093			5,875
Cash at bank and in hand					4,430			7,362
					12,523			13,237
Creditors: Amounts falling due within one year					(74,963)			(86,814)
Net current liabilities					(62,440)			(73,577)
Total assets less current liabilities					(62,435)			3,110
Provisions for liabilities					(1)			(1)
Net (liabilities)/assets					(62,436)			3,109
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(62,536)			3,009
Shareholders' (deficit)/funds					(62,436)			3,109

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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 4 October 2016

.........................................
Mr L M Radcliffe
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Network Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The company relies upon the continued support of its director to whom at 31 March 2016 the company owed £35,535 (£80,072). The director has no intention of withdrawing his support. Accordingly the director believe that the company will continue to operate for the forseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the director's support.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

The goodwill has been amortised over 5 years.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 5 Years (Fully amortised)

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment	33.33% at cost (Fully written off)

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Network Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		115,000			746			115,746
At 31 March 2016		115,000			746			115,746
Depreciation
At 1 April 2015		38,318			741			39,059
Charge for the year		76,682			-			76,682
At 31 March 2016		115,000			741			115,741
Net book value
At 31 March 2016		-			5			5
At 31 March 2015		76,682			5			76,687

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share capital of £1 each		100			100			100			100

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