Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activity2022-03-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09424000 2022-03-01 2023-02-28 09424000 2021-03-01 2022-02-28 09424000 2023-02-28 09424000 2022-02-28 09424000 c:Director2 2022-03-01 2023-02-28 09424000 d:PlantMachinery 2022-03-01 2023-02-28 09424000 d:PlantMachinery 2022-02-28 09424000 d:OfficeEquipment 2022-03-01 2023-02-28 09424000 d:OfficeEquipment 2022-02-28 09424000 d:CurrentFinancialInstruments 2023-02-28 09424000 d:CurrentFinancialInstruments 2022-02-28 09424000 d:Non-currentFinancialInstruments 2023-02-28 09424000 d:Non-currentFinancialInstruments 2022-02-28 09424000 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09424000 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 09424000 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 09424000 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 09424000 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 09424000 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 09424000 c:FRS102 2022-03-01 2023-02-28 09424000 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 09424000 c:FullAccounts 2022-03-01 2023-02-28 09424000 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09424000 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 09424000 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 09424000 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 09424000 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 09424000









NETWORK EYE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
NETWORK EYE LIMITED
REGISTERED NUMBER: 09424000

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 6 
34,002
40,002

  
34,002
40,002

Current assets
  

Debtors: amounts falling due within one year
 7 
80,119
80,119

Cash at bank and in hand
  
55
1,035

  
80,174
81,154

Creditors: amounts falling due within one year
 8 
(653,811)
(643,931)

Net current liabilities
  
 
 
(573,637)
 
 
(562,777)

Total assets less current liabilities
  
(539,635)
(522,775)

  

Creditors: amounts falling due after more than one year
 9 
(22,290)
(31,386)

  
(561,925)
(554,161)

Provisions for liabilities
  

Deferred taxation
 11 
(6,460)
(7,601)

  
 
 
(6,460)
 
 
(7,601)

  

Net assets excluding pension asset
  
(568,385)
(561,762)

Net liabilities
  
(568,385)
(561,762)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(568,386)
(561,763)

  
(568,385)
(561,762)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject
Page 1

 
NETWORK EYE LIMITED
REGISTERED NUMBER: 09424000
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2023.




Gary Deegan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


GENERAL INFORMATION

Network Eye Limited is a private company limited by shares, registered in the United Kingdom number 09424000. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP.
During the year, the principal activity of the company continued to be that of security systems service activities.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, Using the applicable method outlined below.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing Balance
Office equipment
-
15%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 4

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

There are no material judgements in applying accounting policies and no material key sources of
estimation uncertainty


4.


TURNOVER

All turnover arose within the United Kingdom.

All turnover arose within the European Union excluding the United Kingdom.

All turnover arose within the rest of the world.


5.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


6.


TANGIBLE FIXED ASSETS





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
36,040
39,010
75,050



At 28 February 2023
36,040
39,010
75,050



Depreciation


At 1 March 2022
18,498
16,550
35,048


Charge for the year on owned assets
2,631
3,369
6,000



At 28 February 2023
21,129
19,919
41,048



Net book value



At 28 February 2023
14,911
19,091
34,002



At 28 February 2022
17,542
22,460
40,002


7.


DEBTORS

2023
2022
£
£


Amounts owed by group undertakings
77,542
77,542

Other debtors
2,577
2,577
Page 5

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.DEBTORS (CONTINUED)


80,119
80,119



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,969
11,160

Trade creditors
2,736
-

Other taxation and social security
176
176

Other creditors
639,018
629,859

Accruals and deferred income
912
2,736

653,811
643,931



9.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,290
31,386

22,290
31,386


Page 6

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,969
11,160


10,969
11,160

Amounts falling due 1-2 years

Bank loans
10,969
11,160


10,969
11,160

Amounts falling due 2-5 years

Bank loans
11,321
20,226


11,321
20,226


33,259
42,546



11.


DEFERRED TAXATION




2023


£






At beginning of year
(7,600)


Charged to profit or loss
1,140



At end of year
(6,460)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,600)
(9,412)

Tax losses carried forward
1,140
1,812

(6,460)
(7,600)

Page 7

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

12.


TRANSACTIONS WITH DIRECTORS

During the year, G Deegan, directors loan account balance of £167,846,was made up of an opening balance of £167,847, and an advance of £1. This balance is represented in other creditors.

Page 8

 
NETWORK EYE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

13.


FIRST TIME ADOPTION OF FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 9