REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2021 |
for |
NETWORKSUK LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
NETWORKSUK LTD (REGISTERED NUMBER: 02899817) |
Notes to the Financial Statements |
for the year ended 31 December 2021 |
1. | STATUTORY INFORMATION |
NetworksUK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
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 |
Additions |
At 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
Amortisation for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
6. | DEBTORS |
2021 | 2020 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
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 |
Tax |
Social security and other taxes |
VAT | 27,065 | 20,102 |
Other creditors |
Directors' current accounts | 7,687 | - |
Accruals and deferred income |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |