Company Registration No. 10006960 (England and Wales)
The Dad Network Limited
Unaudited accounts
for the year ended 29 February 2020
The Dad Network Limited
Unaudited accounts
Contents
The Dad Network Limited
Company Information
for the year ended 29 February 2020
Directors
Mr A Ferguson
Mrs J Ferguson
Company Number
10006960 (England and Wales)
Registered Office
15-17 Vale Road
Tunbridge Wells
Kent
TN1 1BS
England
Accountants
BPS Accountancy
Barnfield
Penshurst Road
Speldhurst
Kent
TN3 0PH
The Dad Network Limited
Statement of financial position
as at
29 February 2020
Intangible assets
14,182
15,961
Cash at bank and in hand
12,595
43,028
Creditors: amounts falling due within one year
(24,917)
(10,560)
Net current assets
8,208
64,825
Total assets less current liabilities
23,170
81,704
Creditors: amounts falling due after more than one year
-
(38,296)
Called up share capital
174
174
Share premium
42,426
42,426
Profit and loss account
(19,430)
808
Shareholders' funds
23,170
43,408
For the year ending 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2020 and were signed on its behalf by
Mr A Ferguson
Director
Company Registration No. 10006960
The Dad Network Limited
Notes to the Accounts
for the year ended 29 February 2020
The Dad Network Limited is a private company, limited by shares, registered in England and Wales, registration number 10006960. The registered office is 15-17 Vale Road, Tunbridge Wells, Kent, TN1 1BS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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.
Intangible fixed assets are included at cost less accumulated amortisation.
Patents and licences are being amortised evenly over their estimated useful life of ten years.
Computer software is being amortised evenly over its estimated useful life of ten years.
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Dad Network Limited
Notes to the Accounts
for the year ended 29 February 2020
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other
At 29 February 2020
17,780
Charge for the year
1,779
At 29 February 2020
3,598
At 29 February 2020
14,182
At 28 February 2019
15,961
5
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 29 February 2020
1,251
Trade debtors
17,400
17,350
Accrued income and prepayments
2,373
14,250
The Dad Network Limited
Notes to the Accounts
for the year ended 29 February 2020
7
Creditors: amounts falling due within one year
2020
2019
Trade creditors
2,099
6,454
Other creditors
15,214
1,358
8
Creditors: amounts falling due after more than one year
2020
2019
9
Average number of employees
During the year the average number of employees was 2 (2019: 2).