NGENERATION_LIMITED - Accounts

NGENERATION LIMITED - Company Information

Print Friendly Version

Company Registration No. 04169609 (England and Wales)

NGENERATION LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

NGENERATION LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NGENERATION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

160,723

83,374

Current assets

Stocks

71,536

64,436

Debtors

2,544,373

857,978

Cash at bank and in hand

379,475

1,275,270

2,995,384

2,197,684

Creditors: amounts falling due within one year

(1,983,013)

(1,384,279)

Net current assets

1,012,371

813,405

Total assets less current liabilities

1,173,094

896,779

Provisions for liabilities

(18,324)

(14,040)

1,154,770

882,739

Capital and reserves

Called up share capital

Profit and loss account

1,154,768

882,737

Shareholders' funds

1,154,770

882,739

For the financial 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 7 December 2016

Miss C Brunt

Director

Company Registration No. 04169609

NGENERATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

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, as follows:

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Fixtures, fittings & equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

1.5

Leasing and hire purchase commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

NGENERATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

210,428

Additions

113,889

At 31 March 2016

324,317

Depreciation

At 1 April 2015

127,054

Charge for the year

36,540

At 31 March 2016

163,594

Net book value

At 31 March 2016

160,723

At 31 March 2015

83,374

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each

Ultimate parent company

The company is a wholly owned subsidiary of NGeneration Holdings Limited, a company incorporated in England and Wales.