Abbreviated Company Accounts - NETWORK SOUTH WALES (SWANSEA) LIMITED

Abbreviated Company Accounts - NETWORK SOUTH WALES (SWANSEA) LIMITED


Registered Number 06334549

NETWORK SOUTH WALES (SWANSEA) LIMITED

Abbreviated Accounts

31 August 2016

NETWORK SOUTH WALES (SWANSEA) LIMITED Registered Number 06334549

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 36,250 28,250
Tangible assets 3 49,219 62,878
85,469 91,128
Current assets
Stocks 214,658 222,519
Debtors 470,293 553,790
Cash at bank and in hand 464,878 429,908
1,149,829 1,206,217
Creditors: amounts falling due within one year (935,803) (1,033,873)
Net current assets (liabilities) 214,026 172,344
Total assets less current liabilities 299,495 263,472
Creditors: amounts falling due after more than one year - (32,370)
Provisions for liabilities (10,544) (10,544)
Total net assets (liabilities) 288,951 220,558
Capital and reserves
Called up share capital 100 100
Profit and loss account 288,851 220,458
Shareholders' funds 288,951 220,558
  • For the year ending 31 August 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 directors acknowledge their 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 Board on 24 May 2017

And signed on their behalf by:
Mr J Tibbott, Director

NETWORK SOUTH WALES (SWANSEA) LIMITED Registered Number 06334549

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
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:

Asset Class Depreciation method and rate
Motor Vehicles 25% RB
Equipment 25% RB
Plant & Machinery 25% RB

2Intangible fixed assets
£
Cost
At 1 September 2015 28,250
Additions 8,000
Disposals -
Revaluations -
Transfers -
At 31 August 2016 36,250
Amortisation
At 1 September 2015 -
Charge for the year -
On disposals -
At 31 August 2016 -
Net book values
At 31 August 2016 36,250
At 31 August 2015 28,250
3Tangible fixed assets
£
Cost
At 1 September 2015 111,055
Additions 2,749
Disposals -
Revaluations -
Transfers -
At 31 August 2016 113,804
Depreciation
At 1 September 2015 48,177
Charge for the year 16,408
On disposals -
At 31 August 2016 64,585
Net book values
At 31 August 2016 49,219
At 31 August 2015 62,878