NGENERATION_HOLDINGS_LIMI - Accounts

NGENERATION HOLDINGS LIMITED - Company Information

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Company Registration No. 06522685 (England and Wales)

NGENERATION HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

NGENERATION HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NGENERATION HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Investments

1,694,629

Current assets

Debtors

202,062

Cash at bank and in hand

2,589

13,664

2,669

215,726

Creditors: amounts falling due within one year

(939,362)

(147,908)

Net current liabilities/(assets)

(936,693)

67,818

Total assets less current liabilities

757,936

1,762,447

Capital and reserves

Called up share capital

806

1,000

Share premium account

1,249,000

Other reserves

274

Profit and loss account

(492,144)

512,447

Shareholders' funds

757,936

1,762,447

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.

Director's 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 director acknowledges her 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. 06522685

NGENERATION HOLDINGS 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

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

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.

1.6

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.

Fixed assets

Investments

Cost

At 1 April 2015 & at 31 March 2016

1,694,629

At 31 March 2015

1,694,629

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

nGeneration Limited

Ordinary

100.00

NGENERATION HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

Fixed assets

(Continued)

- 3 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

nGeneration Limited

I.T. related services

1,178,979

296,240

Share capital

2016

2015

Allotted, called up and fully paid

533 Ordinary of £1 each

533

1,000

273 Ordinary A of £1 each

273

806

1,000

During the year company issued 80 ordinary shares to John Chisholm Bowen.

During the year 273 Ordinary shares were reclassified as Ordinary A shares.