REGISTERED NUMBER: |
NETVILLE LIMITED |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
NETVILLE LIMITED |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NETVILLE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6-7 Castle Gate |
Castle Street |
Hertford |
Hertfordshire |
SG14 1HD |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared under the historical cost convention and in accordance with |
FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as |
applied to small entities by section 1A of the standard). |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts |
and value added taxes. Turnover includes revenue earned from the sale of goods and from the |
rendering of services. Turnover from the sale of goods is recognised when the significant risks and |
rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of |
services is recognised by reference to the stage of completion of the contract. The stage of completion |
of a contract is measured by comparing the costs incurred for work performed to date to the total |
estimated contract costs. |
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
Computer equipment over 4 years |
Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past |
periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover |
tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the |
recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively |
enacted by the reporting date and that are expected to apply to the reversal of the timing difference, |
except for revalued land and investment property where the tax rate that applies to the sale of the |
asset is used. Current and deferred tax assets and liabilities are not discounted. |
Pension costs and other post-retirement benefits |
Contributions to defined contribution plans are expensed in the period to which they relate. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
3. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
NETVILLE LIMITED (REGISTERED NUMBER: 08730202) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | RELATED PARTY DISCLOSURES |
During the year, the company loaned money to Mr Bailey (Director) with no set repayment date. At the year end the amount due to the company from the director was £5,852 (2022: £2,085 due from the company to the director). This balance was repaid to the company within 9 months after the year end. |
Also during the year, Mr Bailey received dividends from the company in accordance with his shareholding of £15,549 (2022: £8,752). |
8. | ULTIMATE CONTROLLING PARTY |
The director, Mr G Bailey and close family member, controlled the company by virtue of a controlling interest in 57% of the issued ordinary share capital. |