Network Resource Management Ltd. - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02993612 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th September 2017

for

Network Resource Management Ltd.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs K Roberts

A M Ludlow

P N Whitbread

REGISTERED OFFICE:

Network House

3 Owen Avenue

Priory Park West

Hessle

East Yorkshire

HU13 9PD

REGISTERED NUMBER:

02993612 (England and Wales)

ACCOUNTANTS:

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

National Westminster Bank plc

302 Holderness Road

Hull

HU9 2YP

FIXED ASSETS

Tangible assets

4

41,804

101,594

Investment property

5

324,620

324,620

366,424

426,214

CURRENT ASSETS

Stocks

169,461

-

Debtors

654,645

405,688

Cash at bank and in hand

227,668

282,308

1,051,774

687,996

CREDITORS

Amounts falling due within one year

374,982

142,591

NET CURRENT ASSETS

676,792

545,405

TOTAL ASSETS LESS CURRENT LIABILITIES

1,043,216

971,619

CREDITORS

Amounts falling due after more than one year

1,232

-

NET ASSETS

1,041,984

971,619

CAPITAL AND RESERVES

Called up share capital

71,428

71,428

Share premium

58,572

58,572

Capital redemption reserve

45,000

45,000

Retained earnings

866,984

796,619

SHAREHOLDERS' FUNDS

1,041,984

971,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28th June 2018 and were signed on its behalf by:

P N Whitbread - Director

A M Ludlow - Director

1.	STATUTORY INFORMATION

Network Resource Management Ltd. is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st October 2016

571,876

Additions

15,053

At 30th September 2017

586,929

DEPRECIATION

At 1st October 2016

470,282

Charge for year

74,843

At 30th September 2017

545,125

NET BOOK VALUE

At 30th September 2017

41,804

At 30th September 2016

101,594

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2016

and 30th September 2017

324,620

NET BOOK VALUE

At 30th September 2017

324,620

At 30th September 2016

324,620

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

15,476

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

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 Resource Management Ltd. for the year ended 30th September 2017 which comprise

the Income Statement, Abridged Balance Sheet and the related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Network Resource Management Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Network Resource Management Ltd. and state those matters that we have agreed to state to the Board of Directors of Network Resource Management Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Network Resource Management Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Network Resource Management Ltd. 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 profit of Network Resource Management Ltd.. You consider that Network Resource Management Ltd. 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 Resource Management Ltd.. 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.

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

28th June 2018