| NETWORK ROI Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of NETWORK ROI Limited for the year ended 30 June 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of NETWORK ROI Limited for the year ended 30 June 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at
http://www.icas.org.uk/accountspreparationguidance. |
| This report is made solely to the Board of Directors of NETWORK ROI Limited, as a body, in accordance with the terms of our engagement letter dated 20 February 2004. Our work has been undertaken solely to prepare for your approval the accounts of NETWORK ROI Limited and state those matters that we have agreed to state to the Board of Directors of NETWORK ROI Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NETWORK ROI Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that NETWORK ROI Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NETWORK ROI Limited. You consider that NETWORK ROI Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of NETWORK ROI Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| Angela Fraioli C.A. |
| Chartered Accountants |
| 14 Maurice Wynd |
| Dunblane |
| FK|15 9FG |
|
| 22 December 2015 |
|
| NETWORK ROI Limited |
| Registered number: |
SC299422 |
| Abbreviated Balance Sheet |
| as at 30 June 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
13,700 |
|
|
11,504 |
|
| Current assets |
| Stocks |
|
|
70,083 |
|
|
60,267 |
| Debtors |
|
|
420,519 |
|
|
264,488 |
| Cash at bank and in hand |
|
|
27,303 |
|
|
94,249 |
|
|
|
517,905 |
|
|
419,004 |
|
| Creditors: amounts falling due within one year |
|
|
(332,754) |
|
|
(223,613) |
|
| Net current assets |
|
|
|
185,151 |
|
|
195,391 |
|
| Total assets less current liabilities |
|
|
|
198,851 |
|
|
206,895 |
|
|
| Provisions for liabilities |
|
|
|
(2,409) |
|
|
(1,897) |
|
|
| Net assets |
|
|
|
196,442 |
|
|
204,998 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
6 |
|
|
6 |
| Share premium |
|
|
|
999 |
|
|
999 |
| Profit and loss account |
|
|
|
195,437 |
|
|
203,993 |
|
| Shareholder's funds |
|
|
|
196,442 |
|
|
204,998 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr Sean Elliot |
| Director |
| Approved by the board on 22 December 2015 |
|
| NETWORK ROI Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Office equipment |
33% straight line |
|
Motor vehicles |
25% reducing balance |
|
Fixtures and fittings |
15% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet 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 the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 July 2014 |
122,164 |
|
Additions |
11,051 |
|
At 30 June 2015 |
133,215 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2014 |
110,660 |
|
Charge for the year |
8,855 |
|
At 30 June 2015 |
119,515 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2015 |
13,700 |
|
At 30 June 2014 |
11,504 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
0.0001 |
|
51,000 |
|
6 |
|
6 |
|
|
|
|
|
|
|
|
|
