Symmetric Networks Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07482307 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Symmetric Networks Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

755

84

Investments

5

2,000

2,000

2,755

2,084

Current assets

Debtors

6

44,607

66,938

Cash at bank

27,343

81,633

71,950

148,571

Creditors

Amounts falling due within one year

7

5,124

24,655

Net current assets

66,826

123,916

Total assets less current liabilities

69,581

126,000

Provisions for liabilities

144

-

Net assets

69,437

126,000

Capital and reserves

Called up share capital

8

1,000

1,000

Retained earnings

68,437

125,000

Shareholders' funds

69,437

126,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director on 21 November 2018 and were signed by:

D C Monk - Director

1.	Statutory information

Symmetric Networks Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

07482307

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents

amounts receivable for services rendered, stated net of VAT and discounts.

When the outcome of a transaction involving the rendering of services can be reliably estimated,

revenue from the rendering of services is measured by reference to the stage of completion of the

service transaction at the end of the reporting period. When the outcome of a transaction involving the

rendering of services cannot be reliably estimated, revenue is recognised only to the extent that

expenses recognised are recoverable.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated

depreciation and impairment losses.

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently

measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed

for objective evidence of impairment at the end of each reporting date. If there is objective evidence

of impairment, an impairment loss is recognised in profit or loss immediately.

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 at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is

measured using the tax rates and laws that have been enacted or substantively enacted by the reporting

date that are expected to apply to the reversal of the timing difference.

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 2 (2017 - 2 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2017

3,159

Additions

1,070

Disposals

(2,200

)

At 31 March 2018

2,029

Depreciation

At 1 April 2017

3,075

Charge for year

399

Eliminated on disposal

(2,200

)

At 31 March 2018

1,274

Net book value

At 31 March 2018

755

At 31 March 2017

84

5.	Fixed asset investments

Interest

in

associate

£

Cost

At 1 April 2017

and 31 March 2018

2,000

Net book value

At 31 March 2018

2,000

At 31 March 2017

2,000

6.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

8,727

-

Amounts owed by participating interests

10,705

29,996

Other debtors

25,175

36,942

44,607

66,938

7.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

671

3,323

Taxation and social security

1,577

16,003

Other creditors

2,876

5,329

5,124

24,655

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

800

Ordinary A

£1

800

800

200

Ordinary B

£1

200

200

1,000

1,000

9.	Director's advances, credits and guarantees

During the year the company made advances to the director amounting to £46,161 (2017: £20,873).

He repaid £38,111 (2017: £22,169). At the year end the director owed the company £23,568 (2017:

£15,518). The advances were made interest free, unsecured and repayable upon demand.

10.	Related party disclosures

During the year, the company made sales to an entity in which it has a participating interest

amounting to £40,276 (2017: £146,273) and incurred expenditure of £5,967 (2017: £24,991). At the

year end, the company was owed £11,667 (2017: £51,080) by the entity and owed the entity £nil

(2017: £1,856).

During the year, the company voted dividends to a shareholder amounting to £30,000 (2017:

£42,000).