NRG Telecom Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04484238 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

NRG TELECOM LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M. J. Scott

SECRETARY:

Mrs C. L. Scott

REGISTERED OFFICE:

28 Bagslate Moor Road

Norden

Rochdale

Lancashire

OL11 5XT

REGISTERED NUMBER:

04484238 (England and Wales)

ACCOUNTANTS:

Wyatt, Morris, Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

4

9,028

8,200

CURRENT ASSETS

Debtors

6,632

8,229

Cash at bank

6,525

16,520

13,157

24,749

CREDITORS

Amounts falling due within one year

78,192

76,397

NET CURRENT LIABILITIES

(65,035

)

(51,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(56,007

)

(43,448

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(56,009

)

(43,450

)

SHAREHOLDERS' FUNDS

(56,007

)

(43,448

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 July 2019 and were signed by:

M. J. Scott - Director

1.	STATUTORY INFORMATION

NRG Telecom Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been produced under FRS 102. The transition from

preparing the financial statements in accordance with FRSSE(2015) to FRS 102 (1a) has had no material impact

on either the financial position or the financial performance as previously reported by the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

20% on reducing balance

Computer equipment

-

33% on cost

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 that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

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.

Going concern

Although the company is showing an insolvent position at 31 October 2018, the director will continue to assist

the company financially by not withdrawing monies owed to him on the directors loan account until such time as

the company has positive cash reserves. The accounts have therefore been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

42,435

Additions

2,213

At 31 October 2018

44,648

DEPRECIATION

At 1 November 2017

34,235

Charge for year

1,385

At 31 October 2018

35,620

NET BOOK VALUE

At 31 October 2018

9,028

At 31 October 2017

8,200

5.	ULTIMATE CONTROLLING PARTY

The controlling party is M. J. Scott.