RE Internet Systems Limited - Limited company - abbreviated - 11.0.0
RE Internet Systems Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| RE INTERNET SYSTEMS LIMITED |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| RE INTERNET SYSTEMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2013 |
| 31.12.13 | 31.12.12 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors on |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and comply with financial reporting |
| standards of the Accounting Standards Board. |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
| In respect of long-term contracts for on-going services, turnover represents the value of work done in the year, including |
| estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is |
| recognised by reference to the stage of completion. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date where transactions or events that will result in an obligation to pay more tax in future or a right to pay less tax in |
| future have occurred at that date. Timing differences are differences between the company's taxable profits and its results |
| as stated in the financial statements. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are |
| expected to reverse, based on tax rates and laws which are enacted or substantially enacted by the balance sheet date. |
| Deferred tax is measured on a non-discounted basis. |
| Where such differences result in deferred tax assets, they are recognised to the extent that they are regarded as |
| recoverable where, on the basis of available evidence, it is more likely than not that there will be suitable taxable profits |
| from which the reversal of the timing differences can be deducted |
| Research and development |
| Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development |
| expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial |
| viability of individual projects. In this situation, the expenditure is deferred and amortised over the period for which the |
| company is expected to benefit. Assets have been capitalised at cost and amortised at the following rates: |
| Development costs - 33% on cost |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| Contributions payable to the group's pension scheme are charged to the profit and loss account in the period to which they |
| relate. |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 January 2013 | 165,163 |
| Additions | 461,221 |
| Disposals | (114,321 | ) |
| At 31 December 2013 | 512,063 |
| PROVISIONS |
| At 1 January 2013 |
| and 31 December 2013 | 675 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 100 | 100 |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (203,688 | ) | 1 |
| Loss for the year | (203,689 | ) | - |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 1 | 1 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.13 | 31.12.12 |
| value: | £ | £ |
| Ordinary A | £1 |
| Ordinary B | £1 |
| Preference | £1 |
| 50,000 | 50,000 |
| In the event of a winding up, the preference shares carry the right to repayment of capital equal to the subscription price |
| paid in priority to the Ordinary shares. They do not confer any further right to participate in the profits or assets of the |
| company. They confer voting rights only under certain circumstances, for example relating to the winding up of the |
| company. The preference shares are not redeemable. |
| In the event of a winding up, the Ordinary B shares carry the right to repayment of capital equal to the subscription price |
| paid in priority to Ordinary A shares. The Ordinary B shares do not carry the right to vote on any matter at any meeting of |
| the members of the company. Any dividend declared by the company shall be paid to the holders of the Ordinary B shares. |
| The Ordinary A shares carry the right to repayment of the remaining assets on winding up, and the right to one vote for |
| each share at any meeting of the members of the company. The Ordinary A shares do not carry the right to receive |
| dividends. |
| RE INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 03444568) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2013 and |
| 31 December 2012: |
| 31.12.13 | 31.12.12 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |