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Unaudited Financial Statements for the Year Ended 30 September 2017 |
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Pro4net Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2017 |
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for |
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Pro4net Ltd |
Pro4net Ltd (Registered number: 07377757) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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Pro4net Ltd |
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Company Information |
for the Year Ended 30 September 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chiltern Chambers |
St Peters Avenue |
Caversham |
Reading |
Berkshire |
RG4 7DH |
Pro4net Ltd (Registered number: 07377757) |
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Balance Sheet |
30 September 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Pro4net Ltd (Registered number: 07377757) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
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1. | STATUTORY INFORMATION |
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Pro4net Ltd is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First time adoption of financial reporting standard 102 |
These financial statements are the first financial statements of Pro4net Limited, prepared in accordance with |
Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The financial |
statements of Pro4net Limited for the year ended 30th September 2016, were prepared in accordance with |
previous UK GAAP. The date of transition to FRS 102 was 1st October 2015. |
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Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy |
choices differ from previous UK GAAP. Consequently the director has amended certain accounting policies to |
comply with FRS 102. No adjustments needed to be made to prior year comparatives or retained earnings as a |
result of the adoption of FRS 102. |
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The director believes that preparing the financial statements on the going concern basis is appropriate due to the |
continued financial support of the shareholders. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pro4net Ltd (Registered number: 07377757) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2016 |
and 30 September 2017 |
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DEPRECIATION |
At 1 October 2016 |
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Charge for year |
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At 30 September 2017 |
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NET BOOK VALUE |
At 30 September 2017 |
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At 30 September 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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VAT |
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Deferred tax asset |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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Directors' current accounts | 42,064 | 2,885 |
Accrued expenses |
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Pro4net Ltd (Registered number: 07377757) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | 1 | 4 | 3 |
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1 Ordinary "A" share was issued during the year at par, ranking pari passu with the shares currently issued. |
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8. | RELATED PARTY DISCLOSURES |
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During the year dividends totalling £102,250 (2016: £93,450) were paid to the directors as follows: |
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2017 | 2016 |
Mr G Colangelo | £51,125 | £62,300 |
Mrs J Colangelo | £51,125 | £31,150 |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Mr G Colangelo,one of the directors. |