NetMC Marine Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04078681 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2016

for

NetMC Marine Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M P Butterworth

J Kinmond

SECRETARY:

Mrs A Kinmond

REGISTERED OFFICE:

260 The High Street

Dorking

Surrey

RH4 1QT

REGISTERED NUMBER:

04078681 (England and Wales)

ACCOUNTANTS:

Alpha Business Services Limited

Chartered Accountant

Inverebrie

Ellon

Aberdeenshire

AB41 8PX

FIXED ASSETS

Tangible assets

2

435,309

437,298

CURRENT ASSETS

Stocks

126,110

144,966

Debtors

672,854

894,275

Cash at bank and in hand

203,524

303,363

1,002,488

1,342,604

CREDITORS

Amounts falling due within one year

83,213

167,885

NET CURRENT ASSETS

919,275

1,174,719

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,354,584

1,612,017

PROVISIONS FOR LIABILITIES

10,455

NET ASSETS

1,344,129

1,601,562

CAPITAL AND RESERVES

Called up share capital

3

3,500

Profit and loss account

1,340,629

1,598,062

SHAREHOLDERS' FUNDS

1,344,129

1,601,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 January 2017 and were signed on its
behalf by:

J Kinmond - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

550,913

Additions

11,735

At 30 September 2016

562,648

DEPRECIATION

At 1 October 2015

113,615

Charge for year

13,724

At 30 September 2016

127,339

NET BOOK VALUE

At 30 September 2016

435,309

At 30 September 2015

437,298

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

3,500

Ordinary

£1

3,500