Ascu Network Ltd. - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 09556274 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Ascu Network Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Director U B Nissen

REGISTERED OFFICE:

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

REGISTERED NUMBER:

09556274 (England and Wales)

ACCOUNTANTS:

Krogh & Partners Limited

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

CREDITORS

Amounts falling due within one year

2

2,879

2,879

NET CURRENT LIABILITIES

(2,879

)

(2,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,879

)

(2,879

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Retained earnings

(2,880

)

(2,880

)

SHAREHOLDERS' FUNDS

(2,879

)

(2,879

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2 June 2017 and were signed by:

Director U B Nissen - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are

carried at amortized cost.

2.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Directors' loan accounts

1,679

1,679

Accruals and deferred income

1,200

1,200

2,879

2,879

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

1

1

1

4.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

5.	ULTIMATE CONTROLLING PARTY

The controlling party is Magnetic Group IVS, a company incorporated in Denmark.