Company Registration No. 04136697 (England and Wales)
OFFICENET SYSTEMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
OFFICENET SYSTEMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
OFFICENET SYSTEMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
43,494
8,349
Current assets
Debtors
128,499
107,494
Cash at bank and in hand
147,660
120,883
276,159
228,377
Creditors: amounts falling due within one year
3
(76,492)
(56,565)
Net current assets
199,667
171,812
Total assets less current liabilities
243,161
180,161
Provisions for liabilities
(8,699)
(1,670)
234,462
178,491
Capital and reserves
Called up share capital
4
190
190
Other reserves
10
10
Profit and loss account
234,262
178,291
Shareholders' funds
234,462
178,491
For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 and authorised for issue on 11 June 2015
M A Bentley
Director
Company Registration No. 04136697
OFFICENET SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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:
Fixtures, fittings & equipment
20% Reducing balance
Motor vehicles
25% Reducing balance
1.5
Deferred taxation
Deferred tax 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.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014
22,386
Additions
39,968
At 31 January 2015
62,354
Depreciation
At 1 February 2014
14,037
Charge for the year
4,823
At 31 January 2015
18,860
Net book value
At 31 January 2015
43,494
At 31 January 2014
8,349
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £12,028 (2014 - £0).
OFFICENET SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 3 -
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
19,000 Ordinary shares of 1p each
190
190