1 September 2022 v2023.25.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP061332042022-09-012023-05-31061332042023-05-31061332042022-08-3106133204core:WithinOneYear2023-05-3106133204core:WithinOneYear2022-08-3106133204core:ShareCapital2023-05-3106133204core:ShareCapital2022-08-3106133204core:RetainedEarningsAccumulatedLosses2023-05-3106133204core:RetainedEarningsAccumulatedLosses2022-08-3106133204bus:Director12022-09-012023-05-3106133204bus:RegisteredOffice2022-09-012023-05-3106133204core:FurnitureFittingsToolsEquipment2022-09-012023-05-3106133204core:MotorVehicles2022-09-012023-05-31061332042021-09-012022-08-3106133204core:PlantMachinery2022-09-0106133204core:PlantMachinery2022-09-012023-05-3106133204core:PlantMachinery2023-05-3106133204core:PlantMachinery2022-08-310613320412022-09-012023-05-3106133204countries:EnglandWales2022-09-012023-05-3106133204bus:AuditExemptWithAccountantsReport2022-09-012023-05-3106133204bus:PrivateLimitedCompanyLtd2022-09-012023-05-3106133204bus:SmallEntities2022-09-012023-05-3106133204bus:FullAccounts2022-09-012023-05-31
Company registration number:
06133204
NGC Network Services Limited
Unaudited Filleted Financial Statements for the period ended
31 May 2023
NGC Network Services Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of NGC Network Services Limited
Period ended
31 May 2023
As described on the statement of financial position, the Board of Directors of
NGC Network Services Limited
are responsible for the preparation of the
financial statements
for the period ended
31 May 2023
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
M J Foulkes
3 Englefield Close
Stanford in the Vale
Faringdon
Oxfordshire
SN7 8FT
United Kingdom
Date:
7 November 2023
NGC Network Services Limited
Statement of Financial Position
31 May 2023
31 May 202331 Aug 2022
Note££
Fixed assets    
Tangible assets 5
11,389
 
126,356
 
Current assets    
Stocks
356
 
343
 
Debtors 6
469,443
 
660,306
 
Cash at bank and in hand
992,003
 
817,723
 
1,461,802
 
1,478,372
 
Creditors: amounts falling due within one year 7
(823,829
)
(691,045
)
Net current assets
637,973
 
787,327
 
Total assets less current liabilities 649,362   913,683  
Capital and reserves    
Called up share capital
3
 
3
 
Profit and loss account
649,359
 
913,680
 
Shareholders funds
649,362
 
913,683
 
For the period ending
31 May 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
7 November 2023
, and are signed on behalf of the board by:
N Reed
Director
Company registration number:
06133204
NGC Network Services Limited
Notes to the Financial Statements
Period ended
31 May 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
2 Navigation Court
,
Calder Park
,
Wakefield
,
West Yorkshire
,
WF2 7BJ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% straight line
Motor vehicles
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the period was
20
(2022:
20.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 September 2022
164,215
 
Additions
1,372
 
Disposals
(116,270
)
At
31 May 2023
49,317
 
Depreciation  
At
1 September 2022
37,859
 
Charge
23,323
 
Disposals
(23,254
)
At
31 May 2023
37,928
 
Carrying amount  
At
31 May 2023
11,389
 
At 31 August 2022
126,356
 

6 Debtors

31 May 202331 Aug 2022
££
Trade debtors
117,371
 
92,029
 
Other debtors
352,072
 
568,277
 
469,443
 
660,306
 

7 Creditors: amounts falling due within one year

31 May 202331 Aug 2022
££
Trade creditors
325,045
 
292,117
 
Taxation and social security
267,088
 
232,357
 
Other creditors
231,696
 
166,571
 
823,829
 
691,045
 

9 Controlling party

The Company is a wholly owned subsidiary of NGC Networks Group Ltd.
100% of the share capital of the parent company NGC Networks Group Limited was acquired by CloudClevr Investments Limited on 25th May 2023.