Abbreviated Company Accounts - LIQUID NETWORKS LTD

LIQUID NETWORKS LTD - Company Information

07825771 LIQUID NETWORKS LTD 2016-10-31 false 2015-11-01 2016-10-31 true 07825771 2015-11-01 2016-10-31 07825771 2016-10-31 07825771 2015-10-31 07825771 uk-gaap-cd-bus:Director1 2015-11-01 2016-10-31 07825771 uk-gaap-cd-bus:Director2 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 iso4217:GBP shares

Registered Number 07825771

LIQUID NETWORKS LTD

Abbreviated Accounts

31 October 2016

LIQUID NETWORKS LTD Registered Number 07825771

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	2,000	-
Tangible assets	3	615	-
		2,615	-
Current assets
Debtors		-	414
Cash at bank and in hand		21,131	8,817
		21,131	9,231
Creditors: amounts falling due within one year		(20,289)	(7,775)
Net current assets (liabilities)		842	1,456
Total assets less current liabilities		3,457	1,456
Accruals and deferred income		(456)	(456)
Total net assets (liabilities)		3,001	1,000
Capital and reserves
Called up share capital	4	3,000	1,000
Profit and loss account		1	-
Shareholders' funds		3,001	1,000

For the year ending 31 October 2016 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 14 December 2016

And signed on their behalf by:
Paul Hamilton Essery, Director

LIQUID NETWORKS LTD Registered Number 07825771

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the amount derived from the provision of services falling within the company’s activities.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer, Technical & Office Equipment - over 3 years

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

No amortization is applied in the year of acquisition/creation of Intangible Fixed Assets.

2Intangible fixed assets

	£
Cost
At 1 November 2015	-
Additions	2,000
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2016	2,000
Amortisation
At 1 November 2015	-
Charge for the year	-
On disposals	-
At 31 October 2016	-
Net book values
At 31 October 2016	2,000
At 31 October 2015	-

In January 2016 Liquid Networks issued 2,000 additional £1 shares. The consideration for the additional shares was the acquisition of certain intellectual property rights, valued at £2,000.

3Tangible fixed assets

	£
Cost
At 1 November 2015	1,206
Additions	922
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2016	2,128
Depreciation
At 1 November 2015	1,206
Charge for the year	307
On disposals	-
At 31 October 2016	1,513
Net book values
At 31 October 2016	615
At 31 October 2015	0

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
3,000 Ordinary shares of £1 each (1,000 shares for 2015)	3,000	1,000

In January 2016 Liquid Networks issued 2,000 additional £1 shares. The consideration for the additional shares was the acquisition of certain intellectual property rights, valued at £2,000.