Company Registration No. 05565620 (England and Wales)
CREATIVE NETWORKS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
CREATIVE NETWORKS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
18,934
11,750
Current assets
Debtors
18,639
24,362
Cash at bank and in hand
54,155
8,951
72,794
33,313
Creditors: amounts falling due within one year
(59,985)
(25,534)
Net current assets
12,809
7,779
Total assets less current liabilities
31,743
19,529
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
31,739
19,525
Shareholders' funds
31,743
19,529
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 18 December 2014
Mr M A Javed
Director
Company Registration No. 05565620
CREATIVE NETWORKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
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:
Computer equipment
33% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
21,247
Additions
15,173
At 31 March 2014
36,420
Depreciation
At 1 April 2013
9,497
Charge for the year
7,989
At 31 March 2014
17,486
Net book value
At 31 March 2014
18,934
At 31 March 2013
11,750
CREATIVE NETWORKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1
2 A shares of £1 each
2
2
1 B shares of £1 each
1
1
4
4
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