NGENERATION_HOLDINGS_LIMI - Accounts

NGENERATION HOLDINGS LIMITED - Company Information

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Company Registration No. 06522685 (England and Wales)

NGENERATION HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

NGENERATION HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

NGENERATION HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

50,779

Investments

1,694,629

1,745,408

Current assets

Debtors

134,936

108,286

Cash at bank and in hand

5,923

134,936

114,209

Creditors: amounts falling due within one year

(67,567)

(73,803)

Net current assets

67,369

40,406

Total assets less current liabilities

1,761,998

1,785,814

Creditors: amounts falling due after more than one year

(24,749)

1,761,998

1,761,065

Capital and reserves

Called up share capital

1,000

Share premium account

1,249,000

Profit and loss account

511,998

511,065

Shareholders' funds

1,761,998

1,761,065

NGENERATION HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

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. 06522685

NGENERATION HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

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:

Motor vehicles

25% Reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

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.

1.8

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 HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2013

55,890

1,694,629

1,750,519

Disposals

(55,890)

At 31 March 2014

1,694,629

Depreciation

At 1 April 2013

5,111

On disposals

(9,754)

Charge for the year

4,643

At 31 March 2014

Net book value

At 31 March 2014

1,694,629

At 31 March 2013

50,779

1,694,629

1,745,408

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

nGeneration Limited

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

nGeneration Limited

I.T. related services

713,140

30,123

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000