Netstar 9 Ltd - Accounts to registrar - small 17.2
Netstar 9 Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| NETSTAR 9 LTD |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NETSTAR 9 LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 31/12/16 | 31/12/15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Netstar 9 Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of services. |
| Goodwill |
| Goodwill is written off in equal instalments over its useful economic life of 20 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life |
| Freehold property | - not provided |
| Improvements to property | - 10 % on cost |
| Fixtures and fittings | - 25% on cost |
| Motor vehicles | - 25% on cost |
| Freehold property held by the company is not subject to depreciation. This is a departure from the Companies |
| Act 2006, stating that all tangible fixed assets should be depreciated over the useful economic life of the asset. |
| Any depreciation charge on the asset would not, in the opinion of the directors, be material since the property is |
| maintained to a high standard. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The directors believe that the company has sufficient trade and financial resources to continue in operational |
| existence for the foreseeable future. Thus the Going Concern basis of accounting in preparing the annual |
| financial statements has been adopted. |
| Government grants |
| Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate |
| as the depreciation on the assets to which the grant relates. The deferred element of the grant is included within |
| creditors. |
| Grants of a revenue nature are credited to the profit and loss account in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and | Motor |
| property | property | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| and 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| It is the company's practice to maintain its freehold properties in a continual state of sound repair and to make |
| improvements thereto from time to time, and accordingly, the directors consider that, given the long life of these |
| assets and their high residual values, based on prices prevailing at the time of revaluation, depreciation is |
| insignificant. It is the company's policy to make provision as appropriate in the profit and loss account in respect |
| of any permanent diminution in any property value. |
| Cost or valuation at 31 December 2016 is represented by: |
| Improvements | Fixtures |
| Freehold | to | and | Motor |
| property | property | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2003 | 51,210 | - | - | - | 51,210 |
| Valuation in 2010 | 53,865 | - | - | - | 53,865 |
| Cost | 494,925 | 60,000 | 24,337 | 4,694 | 583,956 |
| 600,000 | 60,000 | 24,337 | 4,694 | 689,031 |
| If freehold land and building had not been revalued they would have been included at the following historical |
| cost: |
| 31/12/16 | 31/12/15 |
| £ | £ |
| Cost | 494,925 | 494,925 |
| Freehold land and buildings were valued on an open market basis on 31 December 2010 by the directors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/16 | 31/12/15 |
| £ | £ |
| Prepayments |
| NETSTAR 9 LTD (REGISTERED NUMBER: 04136299) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/16 | 31/12/15 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Government grant | 6,000 | 6,000 |
| Credit cards | 8,195 | - |
| Directors' current accounts | 142 | 6,849 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/16 | 31/12/15 |
| £ | £ |
| Bank loans - 1-2 years |
| Government grant | 46,500 | 52,500 |
| 9. | RELATED PARTY DISCLOSURES |
| Stewart Michael Birchall, director of the company, is also director of Netstar 9 Childcare Limited, a company |
| registered in England and Wales. Included within other creditors at 31 December 2016, there was a balance due |
| to Netstar 9 Childcare Limited from Netstar 9 Limited of nil (2015: £99,363). No interest was charged on the |
| loan. During the year, Netstar 9 Limited was invoiced for management charges totalling nil (2015: £12,000) by |
| Netstar 9 Childcare Limited. |
| Stewart Michael Birchall is also a director of Netstar 9 Consultancy Limited, a company registered in England |
| and Wales. Included within other creditors at 31 December 2016, was a balance due to Netstar 9 Consultancy |
| Limited from Netstar 9 Limited of £30,264 (2015: £30,264) No interest was charged on the loan. |
| NS9 Childcare Limited holds a 50% shareholding in Netstar 9 Limited. During the year a management charge of |
| £4,000 (2015: Nil) was invoiced from NS9 Childcare Limited. Included within other creditors at 31 December |
| 2016 was a balance of £130,431 (2015: Nil) due to NS9 Childcare Limited. No interest was charged on the loan. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The Ultimate Controlling Party are the Directors of the company. |