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REGISTERED NUMBER: 03785182 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 December 2021

for

Net Technical Solutions Ltd

Net Technical Solutions Ltd (Registered number: 03785182)






Contents of the Financial Statements
For The Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Net Technical Solutions Ltd

Company Information
For The Year Ended 31 December 2021







DIRECTORS: A J Mackenzie
B E Stupples
R J Brain





SECRETARY: A K Mackenzie





REGISTERED OFFICE: 90 High Street
Sandhurst
Berkshire
GU47 8EE





REGISTERED NUMBER: 03785182 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Net Technical Solutions Ltd (Registered number: 03785182)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 582,932 619,365
Tangible assets 5 118,059 57,911
700,991 677,276

CURRENT ASSETS
Stocks 12,836 14,882
Debtors 6 252,709 135,287
Cash at bank and in hand 225,694 370,699
491,239 520,868
CREDITORS
Amounts falling due within one year 7 420,001 577,788
NET CURRENT ASSETS/(LIABILITIES) 71,238 (56,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

772,229

620,356

CREDITORS
Amounts falling due after more than one
year

8

(56,780

)

-

PROVISIONS FOR LIABILITIES (22,431 ) (11,003 )
NET ASSETS 693,018 609,353

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 643,018 559,353
SHAREHOLDERS' FUNDS 693,018 609,353

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.

Net Technical Solutions Ltd (Registered number: 03785182)

Balance Sheet - continued
31 December 2021


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 13 September 2022 and were signed on its behalf by:





A J Mackenzie - Director


Net Technical Solutions Ltd (Registered number: 03785182)

Notes to the Financial Statements
For The Year Ended 31 December 2021

1. STATUTORY INFORMATION

Net Technical Solutions 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 and is recognised as services are provided. Where invoices are issued which cover a period which extends beyond the year end, the relevant proportion is credited to the income statement for the period and the amount in advance is carried forward in creditors.

Goodwill
Goodwill arising on the acquisition of businesses is being amortised over its estimated useful life which the directors consider to be 20 years. This is subject to annual review and a review of any perceived impairment.

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 equipment - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Net Technical Solutions Ltd (Registered number: 03785182)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2020 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 728,664
AMORTISATION
At 1 January 2021 109,299
Charge for year 36,433
At 31 December 2021 145,732
NET BOOK VALUE
At 31 December 2021 582,932
At 31 December 2020 619,365

Net Technical Solutions Ltd (Registered number: 03785182)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 192,830 41,588 53,373 2,860 290,651
Additions 12,267 - 69,318 - 81,585
At 31 December 2021 205,097 41,588 122,691 2,860 372,236
DEPRECIATION
At 1 January 2021 170,963 39,552 19,365 2,860 232,740
Charge for year 14,938 808 5,691 - 21,437
At 31 December 2021 185,901 40,360 25,056 2,860 254,177
NET BOOK VALUE
At 31 December 2021 19,196 1,228 97,635 - 118,059
At 31 December 2020 21,867 2,036 34,008 - 57,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 153,132 98,012
Other debtors 28,086 28,431
Prepayments and accrued income 71,491 8,844
252,709 135,287

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 82,139 126,943
Corporation tax 75,491 67,987
Social security and other taxes 39,479 45,429
VAT 107,056 215,545
Other creditors 55,852 32,193
Amount due to group
undertakings - 2,091
Hire purchase 10,813 -
Directors' loan accounts 37,061 57,500
Accrued expenses 12,110 30,100
420,001 577,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Hire purchase 56,780 -