Network247 Limited - Period Ending 2016-03-31

Registration number: 7191503

Network247 Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Network247 Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Network247 Limited
(Registration number: 7191503)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			1,189			1,585
Current assets
Debtors					40,329			54,938
Cash at bank and in hand					-			766
					40,329			55,704
Creditors: Amounts falling due within one year					(43,043)			(33,221)
Net current (liabilities)/assets					(2,714)			22,483
Net (liabilities)/assets					(1,525)			24,068
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(1,527)			24,066
Shareholders' (deficit)/funds					(1,525)			24,068

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 28 February 2017

.........................................
Nick Weston-Jones
Director

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

Network247 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Office equipment	25% Reducing balance

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Network247 Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		2,322			2,322
At 31 March 2016		2,322			2,322
Depreciation
At 1 April 2015		737			737
Charge for the year		396			396
At 31 March 2016		1,133			1,133
Net book value
At 31 March 2016		1,189			1,189
At 31 March 2015		1,585			1,585

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

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