NGENERATION_LIMITED - Accounts

NGENERATION LIMITED - Company Information

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Company Registration No. 04169609 (England and Wales)

NGENERATION LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

NGENERATION LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NGENERATION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

85,156

54,762

Current assets

Stocks

79,198

Debtors

1,093,480

1,086,867

Cash at bank and in hand

758,161

806,261

1,930,839

1,893,128

Creditors: amounts falling due within one year

(1,289,037)

(1,258,069)

Net current assets

641,802

635,059

Total assets less current liabilities

726,958

689,821

Provisions for liabilities

(13,818)

(6,804)

713,140

683,017

Capital and reserves

Called up share capital

Profit and loss account

713,138

683,015

Shareholders' funds

713,140

683,017

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 December 2014

Mr B Cronin

Miss C Brunt

Director

Company Registration No. 04169609

NGENERATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Fixtures, fittings & equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

NGENERATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

146,449

Additions

51,423

Disposals

(1,145)

At 31 March 2014

196,727

Depreciation

At 1 April 2013

91,686

On disposals

(516)

Charge for the year

20,401

At 31 March 2014

111,571

Net book value

At 31 March 2014

85,156

At 31 March 2013

54,762

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary of £1 each