Exchange Webs Limited - Period Ending 2016-03-31

Registration number: 06391262

Exchange Webs Limited

trading as Exchange Webs Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Power Account Limited
Accountants
8c High Street
Southampton
Hampshire
SO14 2DH

Exchange Webs Limited
trading as Exchange Webs Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Exchange Webs Limited
trading as Exchange Webs Ltd
(Registration number: 06391262)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					900			1,800
Tangible fixed assets					31			41
					931			1,841
Current assets
Debtors					-			117
Cash at bank and in hand					3,543			4,699
					3,543			4,816
Creditors: Amounts falling due within one year					(9,550)			(7,607)
Net current liabilities					(6,007)			(2,791)
Net liabilities					(5,076)			(950)
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					(5,086)			(960)
Shareholders' deficit					(5,076)			(950)

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 .

Approved by the director on 20 December 2016

.........................................
Mr Robert Bennett
Director

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

Exchange Webs Limited
trading as Exchange Webs Ltd
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).

Turnover

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Asset class	Amortisation method and rate
Goodwill	Over period of 10 years

Depreciation

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

Page 2

Exchange Webs Limited
trading as Exchange Webs Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		9,000			350			9,350
At 31 March 2016		9,000			350			9,350
Depreciation
At 1 April 2015		7,200			309			7,509
Charge for the year		900			10			910
At 31 March 2016		8,100			319			8,419
Net book value
At 31 March 2016		900			31			931
At 31 March 2015		1,800			41			1,841

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

4

Control

The company is controlled by Robert Bennet by virtue of his interest in the issued share capital of the company as disclosed in the Directors Report..

Page 3