Necaprice Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 03168316

NECAPRICE LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 March 2016

SRJ ACCOUNTING SERVICES LIMITED

Accountants

1st Floor, Lumiere

Elstree Way

Borehamwood

Herts

WD6 1JH

NECAPRICE LIMITED

ACCOUNTANTS' REPORT TO THE DIRECTORS OF NECAPRICE

LIMITED

YEAR ENDED 31 MARCH 2016

You consider that the Company is exempt from an audit for the year ended 31 March 2016. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing financial statements which give a true and fair view of the state of affairs of the Company and of its profit for the financial year.

In accordance with your instructions, we have prepared the financial statements on pages 2 to 5 from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.

SRJ ACCOUNTING SERVICES LIMITED Accountants

1st Floor, Lumiere Elstree Way Borehamwood Herts WD6 1JH

30 November 2016

NECAPRICE LIMITED

ABBREVIATED BALANCE SHEET

31 March 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			218	291
Investments			201,000	201,000
			----------	----------
			201,218	201,291
			----------	----------

CURRENT ASSETS

Debtors	103,748		93,748
Cash at bank and in hand	197,907		201,221
	----------		----------
	301,655		294,969
CREDITORS: Amounts falling due within one year	158,151		156,512
	----------		----------
NET CURRENT ASSETS		143,504	138,457
		----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		344,722	339,748
		----------	----------

CAPITAL AND RESERVES

Called up equity share capital	4	1	1
Profit and loss account		344,721	339,747
		----------	----------
SHAREHOLDERS' FUNDS		344,722	339,748
		----------	----------

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 30 November 2016 , and are signed on their behalf by:

Mr K Malone Director

Company Registration Number: 03168316

NECAPRICE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 MARCH 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Cash flow statement

The director has taken advantage of the exemption in Financial reporting Standard 102 (Section 1A) from including a cash flow statement on the grounds that the company is small.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

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 as follows:

Equipment-25% per annum on a straight line basis

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2. FIXED ASSETS

Tangible Assets	Investments	Total
£	£	£

COST

At 1 April 2015 and 31 March 2016	691	201,000	201,691
	----	----------	----------

DEPRECIATION

At 1 April 2015	400	–	400
Charge for year	73	–	73
	----	----------	----------
At 31 March 2016	473	–	473
	----	----------	----------

NET BOOK VALUE

At 31 March 2016	218	201,000	201,218
	----	----------	----------

At 31 March 2015	291	201,000	201,291
	----	----------	----------

Under the provision of section 248 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

3. KEY MANAGEMENT PERSONNEL

The company was under the control of Mr Malone throughout the current and previous year. Mr Malone was owed £155,889 by the company at the year end (2015: £154,082). Quada (Wandsworth) Limited: Mr Malone and Mr Sangster are directors of Necaprice Limited and Quada (Wandsworth) Limited. At the year end Quada (Wandsworth) Limited owes Necaprice Limited £103,747 £ (2015: £93,747). During the year Necaprice Limited received management fees of £10,000 (2015: £10,000) from Quada (Wandsworth) Limited.

4. SHARE CAPITAL

Authorised share capital:

	2016	2015
	£	£
100 Ordinary shares of £ 1 each	100	100
	----	----

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----