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REGISTERED NUMBER: 02899817 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 December 2021

for

NETWORKSUK LTD

NETWORKSUK LTD (REGISTERED NUMBER: 02899817)






Contents of the Financial Statements
for the year ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NETWORKSUK LTD

Company Information
for the year ended 31 December 2021







DIRECTORS: Mr A J Hobbs
Mrs E J Hobbs
Mr S A Hobbs





SECRETARY: Mrs E J Hobbs





REGISTERED OFFICE: Queens Head House
The Street
Acle
Norwich
NR13 3DY





BUSINESS ADDRESS: Bridge Farm
Acle Bridge
Acle
Norwich
NR13 3AT





REGISTERED NUMBER: 02899817 (England and Wales)





ACCOUNTANTS: Hines Harvey Woods Ltd
Chartered Certified Accountants
Queens Head House
The Street
Acle
Norwich
NR13 3DY

NETWORKSUK LTD (REGISTERED NUMBER: 02899817)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,839 -
Tangible assets 5 19,869 21,704
22,708 21,704

CURRENT ASSETS
Debtors 6 161,183 147,908
Cash at bank 329,009 240,425
490,192 388,333
CREDITORS
Amounts falling due within one year 7 74,052 51,155
NET CURRENT ASSETS 416,140 337,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,848

358,882

PROVISIONS FOR LIABILITIES 3,351 3,606
NET ASSETS 435,497 355,276

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 435,397 355,176
SHAREHOLDERS' FUNDS 435,497 355,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:





Mrs E J Hobbs - Director


NETWORKSUK LTD (REGISTERED NUMBER: 02899817)

Notes to the Financial Statements
for the year ended 31 December 2021

1. STATUTORY INFORMATION

NetworksUK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Patents and licences
Costs associated with patents and licences are capitalised and amortised equally over a period of 3 years, which is the period over which the directors consider the costs have a continued value.

Internet domains
Costs associated with internet domains are capitalised and amortised equally over a period of 5 years, which is the period over which the directors consider the costs have a continued value.

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 etc - 33% on reducing balance and 15% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

NETWORKSUK LTD (REGISTERED NUMBER: 02899817)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

4. INTANGIBLE FIXED ASSETS
Patents
and Development Internet
licences costs domains Totals
£    £    £    £   
COST
At 1 January 2021 57,736 166,567 - 224,303
Additions - - 3,513 3,513
At 31 December 2021 57,736 166,567 3,513 227,816
AMORTISATION
At 1 January 2021 57,736 166,567 - 224,303
Amortisation for year - - 674 674
At 31 December 2021 57,736 166,567 674 224,977
NET BOOK VALUE
At 31 December 2021 - - 2,839 2,839
At 31 December 2020 - - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 154,538
Additions 1,781
At 31 December 2021 156,319
DEPRECIATION
At 1 January 2021 132,834
Charge for year 3,616
At 31 December 2021 136,450
NET BOOK VALUE
At 31 December 2021 19,869
At 31 December 2020 21,704

6. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Trade debtors 79,968 62,904
Other debtors 80,854 76,733
160,822 139,637

Amounts falling due after more than one year:
Other debtors 361 8,271

Aggregate amounts 161,183 147,908

NETWORKSUK LTD (REGISTERED NUMBER: 02899817)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 552 3,126
Tax 19,889 14,542
Social security and other taxes 4,509 5,000
VAT 27,065 20,102
Other creditors 332 823
Directors' current accounts 7,687 -
Accruals and deferred income 14,018 7,562
74,052 51,155

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Mr A J Hobbs and Mrs E J Hobbs
Balance outstanding at start of year 1,444 3,354
Amounts repaid (1,444 ) (1,910 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,444

Interest was not charged on the loan (2020 - £nil)

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £20,004 were paid to the directors .

During the year sales of £366,763 (2020 - £304,682) were made to, and purchases of £1,439 (2020 - £4,007) were made from related companies. At the balance sheet date an amount of £87,655 (2020 - £62,904) was due from and £nil (2020 - £3,180) due to related parties.

At the balance sheet date an amount of £70,000 (2020 - £70,000) in respect of a loan, was due from related parties.

During the year rent of £10,000 (2020 - £10,000) was paid to the directors.

10. ULTIMATE CONTROLLING PARTY

Ultimate control of the company rests with Mr A J Hobbs and Mrs E J Hobbs.