Fleet Network Limited - Period Ending 2015-06-30

Registration number: 3871039

Fleet Network Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Gorman Evans Limited
Chartered Certified Accountants
Emstrey House (South)
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Fleet Network Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fleet Network 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 accounts of Fleet Network Limited for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com.

This report is made solely to the Board of Directors of Fleet Network Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fleet Network Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fleet Network Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fleet Network 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 Fleet Network Limited. You consider that Fleet Network 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 Fleet Network 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 statutory accounts.

......................................

Gorman Evans Limited
Chartered Certified Accountants
Emstrey House (South)
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

23 March 2016

Page 1

Fleet Network Limited
(Registration number: 3871039)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					5,943			6,948
Current assets
Debtors					146,463			96,245
Cash at bank and in hand					9			11,480
					146,472			107,725
Creditors: Amounts falling due within one year					(182,679)			(133,420)
Net current liabilities					(36,207)			(25,695)
Net liabilities					(30,264)			(18,747)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					(31,264)			(19,747)
Shareholders' deficit					(30,264)			(18,747)

For the year ending 30 June 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 23 March 2016 and signed on its behalf by:

.........................................
Mr P R Savage
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Fleet Network Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. This is appropriate in the opinion of the directors because they expect the company to continue to trade profitably, and of their continued support for the foreseeable future.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Fleet Network Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		20,756			20,756
Additions		976			976
At 30 June 2015		21,732			21,732
Depreciation
At 1 July 2014		13,808			13,808
Charge for the year		1,981			1,981
At 30 June 2015		15,789			15,789
Net book value
At 30 June 2015		5,943			5,943
At 30 June 2014		6,948			6,948

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

4	Related party transactions

Illegal dividends have been paid during the year, which will become repayable in the event of a winding up of the company.
 

Page 4