2022-03-012023-02-282023-02-28false07514616GENEVA NETWORK 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GENEVA NETWORK LIMITED

Registered Number
07514616
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

GENEVA NETWORK LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

STEVENS, Deborah Louise
STEVENS, Philip Roger Lloyd

Registered Address

4 Glasshouse Studios Fryern Court Road
Burgate
Fordingbridge
SP6 1QX

Registered Number

07514616 (England and Wales)
GENEVA NETWORK LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,0171,847
4,0171,847
Current assets
Debtors618,567411,070
Cash at bank and on hand186,138175,070
804,705586,140
Creditors amounts falling due within one year8(141,867)(64,713)
Net current assets (liabilities)662,838521,427
Total assets less current liabilities666,855523,274
Net assets666,855523,274
Capital and reserves
Called up share capital100100
Profit and loss account666,755523,174
Shareholders' funds666,855523,274
The financial statements were approved and authorised for issue by the Board of Directors on 8 November 2023, and are signed on its behalf by:
STEVENS, Deborah Louise
Director
STEVENS, Philip Roger Lloyd
Director

Registered Company No. 07514616
GENEVA NETWORK LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-33
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 225,63211,66817,300
Additions-1,9821,982
At 28 February 235,63213,65019,282
Depreciation and impairment
At 01 March 224,07411,37915,453
Charge for year390(578)(188)
At 28 February 234,46410,80115,265
Net book value
At 28 February 231,1682,8494,017
At 28 February 221,5582891,847
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
STEVENS, Philip Roger Lloyd311,824226,271110,607427,488
311,824226,271110,607427,488
7.Debtors within one year

2023

2022

££
Trade debtors / trade receivables618,555411,059
Other debtors1211
Total618,567411,070
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables51,9753,735
Taxation and social security89,89260,978
Total141,86764,713
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.