Network 90 Limited Micro entities accounts

Network 90 Limited Micro entities accounts

NETWORK 90 LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2016-01-01 Sage Accounts Production Advanced 2017 - FRS xbrli:pure xbrli:shares iso4217:GBP SC390844 2016-01-01 2016-12-31 SC390844 2016-12-31 SC390844 2015-01-01 2015-12-31 SC390844 2015-12-31 SC390844 bus:LeadAgentIfApplicable 2016-01-01 2016-12-31 SC390844 bus:Director3 2016-01-01 2016-12-31 SC390844 core:WithinOneYear 2016-12-31 SC390844 core:WithinOneYear 2015-12-31 SC390844 core:RestatedAmount 2015-12-31 SC390844 bus:Director3 2015-12-31 SC390844 bus:Director3 2016-12-31 SC390844 bus:Director3 2015-12-31 SC390844 bus:Director3 2015-01-01 2015-12-31 SC390844 bus:Micro-entities 2016-01-01 2016-12-31 SC390844 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 SC390844 bus:FullAccounts 2016-01-01 2016-12-31 SC390844 bus:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 SC390844 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
COMPANY REGISTRATION NUMBER: SC390844
Network 90 Limited
Unaudited Financial Statements
31 December 2016
DC CONSULTING (WWW.DCCONSULT.CO.UK)
Chartered accountant
Network 90 Limited
Financial Statements
Year Ended 31 December 2016
Contents
Page
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
1
Income Statement
2
Statement of Financial Position and the Notes to the Financial Statements
3
Network 90 Limited
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Network 90 Limited
Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Network 90 Limited for the year ended 31 December 2016, which comprise the income statement, statement of financial position and the notes to the financial statements from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Network 90 Limited in accordance with the terms of our engagement letter dated 20 September 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Network 90 Limited and state those matters that we have agreed to state you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Network 90 Limited and its director for our work or for this report.
It is your duty to ensure that Network 90 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Network 90 Limited. You consider that Network 90 Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Network 90 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
DC CONSULTING (WWW.DCCONSULT.CO.UK) Chartered accountant
28 September 2017
Network 90 Limited
Income Statement
Year Ended 31 December 2016
2016
2015
£
£
Turnover
885
2,278
Other income
27,550
-
--------
-------
28,435
2,278
Staff costs
( 36,734)
( 93,859)
Depreciation and other amounts written off assets
( 1,642)
( 1,642)
Other charges
(101,894)
(174,801)
Tax
37,793
-
---------
---------
Loss
74,042
268,024
---------
---------
Network 90 Limited
Statement of Financial Position
31 December 2016
2016
2015
£
£
£
Fixed assets
1,268
2,910
-------
-------
Current assets
39,807
3,614
Prepayments and accrued income
1,380
1,380
--------
-------
41,187
4,994
Creditors: amounts falling due within one year
71,839
4,623
--------
-------
Net Current (Liabilities)/Assets
( 30,652)
371
--------
-------
Total Assets Less Current Liabilities
( 29,384)
3,281
Accruals and deferred income
51,680
10,303
--------
--------
(81,064)
(7,022)
--------
--------
Capital and reserves
( 81,064)
( 7,022)
--------
-------
Notes to the Financial Statements
1. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2016
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Steven Morris
( 1,000)
( 10,000)
( 11,000)
-------
--------
--------
2015
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Steven Morris
-
( 1,000)
( 1,000)
----
-------
-------
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the board of directors and authorised for issue on 28 September 2017 , and are signed on behalf of the board by:
Steven Morris
Director
Company registration number: SC390844
The company is a private company limited by shares, registered in Scotland.
Network 90 Limited
Management Information
Year Ended 31 December 2016
The Following Page Does Not Form Part of the Financial Statements.
Network 90 Limited
Detailed Income Statement
Year Ended 31 December 2016
2016
2015
£
£
Turnover
885
2,278
Other Income
27,550
-
Staff Costs
36,734
93,859
Depreciation and Other Amounts Written Off Assets
1,642
1,642
Other Charges
(101,894)
(174,801)
---------
---------
(111,835)
(268,024)
---------
---------
Network 90 Limited
Notes to the Detailed Income Statement
Year Ended 31 December 2016
2016
2015
£
£
Staff Costs
Wages and salaries
18,234
70,284
Directors fees
18,500
23,575
--------
--------
36,734
93,859
--------
--------
Depreciation and Other Amounts Written Off Assets
Depreciation of tangible assets
1,642
1,642
-------
-------
Other Charges
Rent
3,400
-
Insurance
575
7,707
Mobile ap development
-
93
Data feeds / Services
-
4,646
Hosting
4,636
7,353
Travelling and entertainment
20,172
19,081
Telephone
250
645
Computer costs
1,500
815
Printing postage and stationery
50
93
Sundry expenses
42
-
General expenses (allowable)
710
1,577
Subscriptions
-
104
Advertising
275
66,861
Operating lease: L&B
-
5,175
Bank charges
501
538
Legal and professional fees (allowable)
7,620
4,373
Consultancy fees
60,425
50,290
Accountancy fees
1,738
5,450
---------
---------
101,894
174,801
---------
---------