Network-6 Ltd

Contents
	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 08313209

		2019		2018
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		3,775		-

			3,775		-
CURRENT ASSETS
Debtors	4	42,117		15,087
Cash at bank and in hand		6,497		3,615

		48,614		18,702
Creditors: Amounts Falling Due Within One Year	5	(95,733 )		(13,288 )

NET CURRENT ASSETS (LIABILITIES)			(47,119 )		5,414

TOTAL ASSETS LESS CURRENT LIABILITIES			(43,344 )		5,414

Creditors: Amounts Falling Due After More Than One Year	6		-		(24,255 )

NET LIABILITIES			(43,344 )		(18,841 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Income Statement			(43,444 )		(18,941 )

SHAREHOLDERS' FUNDS			(43,344)		(18,841)

Page 1

Network-6 Ltd

Statement of Financial Position (continued)

As at 30 November 2019

For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Ronald Finch

Director

5th October 2020

The notes on pages 3 to 5 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Striaght line
Computer Equipment	25% Reducing balance

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 2 (2018: 1)

Page 3

Network-6 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2019

3. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 December 2018	-	-	-
Additions	2,621	1,375	3,996

As at 30 November 2019	2,621	1,375	3,996

Depreciation
As at 1 December 2018	-	-	-
Provided during the period	61	160	221

As at 30 November 2019	61	160	221

Net Book Value
As at 30 November 2019	2,560	1,215	3,775

As at 1 December 2018	-	-	-

4. Debtors

	2019	2018
	£	£
Due within one year
Trade debtors	35,680	7,241
Prepayments and accrued income	1,574	2,991
VAT	-	3,795
Director's loan account	-	1,060

	37,254	15,087
Due after more than one year
Deposits	1,050	-
Amounts owed by other participating interests	3,813	-

	4,863	-

	42,117	15,087

Page 4

Network-6 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2019

5. Creditors: Amounts Falling Due Within One Year

	2019	2018
	£	£
Trade creditors	9,096	12,488
Other taxes and social security	320	-
VAT	10,134	-
Accruals and deferred income	1,131	800
Director's loan account	75,052	-

	95,733	13,288

6. Creditors: Amounts Falling Due After More Than One Year

	2019	2018
	£	£
Inter company loans	-	24,255

	-	24,255

7. Share Capital

	2019		2018
Allotted, Called up and fully paid	100		100

8. General Information

Network-6 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08313209 . The registered office is 79 Nightingale Lane, London, E11 2EY.

Page 5