N-TrustIT Limited - Period Ending 2016-11-30

Registration number: SC369108

N-TrustIT Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

N-TrustIT Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

N-TrustIT Limited
(Registration number: SC369108)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					8,252			9,734
Current assets
Debtors					36,571			35,163
Cash at bank and in hand					2,723			970
					39,294			36,133
Creditors: Amounts falling due within one year					(42,092)			(36,889)
Net current liabilities					(2,798)			(756)
Total assets less current liabilities					5,454			8,978
Creditors: Amounts falling due after more than one year					(4,383)			(7,954)
Provisions for liabilities					(732)			(923)
Net assets					339			101
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					239			1
Shareholders' funds					339			101

For the year ending 30 November 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 12 June 2017

.........................................
Mr A Moffat
Director

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

N-TrustIT Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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 net invoiced sales of goods and services, excluding value added tax.

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
Fixtures and fittings	20% straight line
Motor vehicles	20% reducing balance
Office equipment	20% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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N-TrustIT Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		15,890			15,890
Additions		582			582
Disposals		(391)			(391)
At 30 November 2016		16,081			16,081
Depreciation
At 1 December 2015		6,156			6,156
Charge for the year		2,064			2,064
Eliminated on disposals		(391)			(391)
At 30 November 2016		7,829			7,829
Net book value
At 30 November 2016		8,252			8,252
At 30 November 2015		9,734			9,734

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Mr A Moffat ( Director ) During the year, the above operated a loan account with the company . At the balance sheet date the amount due to Mr A Moffat was £9,232 ( 2015 - £6,024 ) . There are no repayment terms and no interest is due on the balance.

Page 3