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REGISTERED NUMBER: 03921951 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ATTOCK NETWORK PRODUCTS LIMITED

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ATTOCK NETWORK PRODUCTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTOR: S H Shah





SECRETARY: Mrs N A Shah





REGISTERED OFFICE: Office F4
Junction 7 Business Park
Blackburn Road
Clayton le Moores
Lancashire
BB5 5JW





REGISTERED NUMBER: 03921951 (England and Wales)





ACCOUNTANTS: Hayes & Co
Chartered Accountants
St Andrews House
11 Dalton Ct,Commercial Rd
Blackburn Interchange
Darwen
Lancashire
BB3 0DG

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 19,687 25,684

CURRENT ASSETS
Stocks 268,198 338,181
Debtors 6 369,257 311,984
Cash at bank and in hand 315,679 183,400
953,134 833,565
CREDITORS
Amounts falling due within one year 7 288,541 291,759
NET CURRENT ASSETS 664,593 541,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,280

567,490

CREDITORS
Amounts falling due after more than one
year

8

(24,276

)

(34,520

)

PROVISIONS FOR LIABILITIES (3,712 ) (4,845 )
NET ASSETS 656,292 528,125

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 656,291 528,124
SHAREHOLDERS' FUNDS 656,292 528,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

BALANCE SHEET - continued
31 March 2023


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 director and authorised for issue on 4 November 2023 and were signed by:





S H Shah - Director


ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Attock Network Products Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03921951 and the registered office is Office F4, Junction 7 Business Park, Blackburn Road, Clayton le Moores, Lancashire, BB5 5JW.

2. STATEMENT OF COMPLIANCE

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 presentation currency of the financial statements is Pound Sterling (£).

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared in accordance with FRS 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland (' FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on historical experience that the directors have and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both the current and future periods.

Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade receivable, cash and bank balances are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

The company has no financial instruments that are classified as other financial assets.

Impairment of financial assets

Financial assets, other than those held at fair value through the income statement, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result if one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows have been affected. If an assets is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Basic financial liabilities, including creditors, loans from associated companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

The company has no financial instruments that are classified as other financial liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as report in the income statement because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all the timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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.

Employee benefits
The costs of short- term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with the bank.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 2,722 9,334 33,436 2,614 48,106
Additions - - - 516 516
At 31 March 2023 2,722 9,334 33,436 3,130 48,622
DEPRECIATION
At 1 April 2022 1,798 6,744 11,627 2,253 22,422
Charge for year 139 389 5,452 533 6,513
At 31 March 2023 1,937 7,133 17,079 2,786 28,935
NET BOOK VALUE
At 31 March 2023 785 2,201 16,357 344 19,687
At 31 March 2022 924 2,590 21,809 361 25,684

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 352,902 288,427
Other debtors 3,609 12,411
Prepayments 12,746 11,146
369,257 311,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,890 9,646
Trade creditors 138,955 143,348
Tax 37,008 22,521
Social security and other taxes 4,120 3,023
VAT 42,859 25,409
Other creditors 2,323 81,939
Directors' current accounts 41,326 1,873
Accrued expenses 12,060 4,000
288,541 291,759

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,140 9,890
Bank loans - 2-5 years 14,136 24,630
24,276 34,520

ATTOCK NETWORK PRODUCTS LIMITED (REGISTERED NUMBER: 03921951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. ULTIMATE CONTROLLING PARTY

The controlling party is S H Shah.