1 September 2022 v2023.25.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwaretruetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP140221492022-09-012023-05-31140221492023-05-31140221492022-08-3114022149core:ShareCapital2023-05-3114022149core:ShareCapital2022-08-3114022149bus:Director12022-09-012023-05-3114022149bus:RegisteredOffice2022-09-012023-05-3114022149core:CostValuation2022-09-0114022149core:CostValuation2023-05-311402214912022-09-012023-05-3114022149countries:EnglandWales2022-09-012023-05-3114022149bus:AuditExemptWithAccountantsReport2022-09-012023-05-3114022149bus:PrivateLimitedCompanyLtd2022-09-012023-05-3114022149bus:SmallEntities2022-09-012023-05-3114022149bus:FullAccounts2022-09-012023-05-31
Company registration number:
14022149
NGC Networks Group Limited
Unaudited Filleted Financial Statements for the period ended
31 May 2023
NGC Networks Group Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of NGC Networks Group Limited
Period ended
31 May 2023
As described on the statement of financial position, the Board of Directors of
NGC Networks Group Limited
are responsible for the preparation of the
financial statements
for the period ended
31 May 2023
, which comprise the income statement, statement of financial position, statement of changes in equity 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 Networks Group Limited
Statement of Financial Position
31 May 2023
31 May 202331 Aug 2022
Note££
Fixed assets    
Investments 4
816
 
816
 
Total assets less current liabilities 816   816  
Capital and reserves    
Called up share capital
816
 
816
 
Profit and loss account -   -  
Shareholders funds
816
 
816
 
No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current period or comparative period.
For the period ending
31 May 2023
, the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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:
14022149
NGC Networks Group 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.

Income Statement

The company is dormant as defined in section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current period or comparative period.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

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.

4 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 September 2022
816
 
At
31 May 2023
816
 
Impairment  
At
1 September 2022
and
31 May 2023
-  
Carrying amount  
At
31 May 2023
816
 
At 31 August 2022
816
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
31 May 202331 Aug 2022
Shares in group undertakings and participating interestsShares in group undertakings and participating interests
££
Aggregate historical cost 816   816  
Carrying amount 816   816  

5 Controlling party

The Company acquired the whole of the share capital of NGC Networks Ltd and NGC Network Services Ltd on 5 April 2022.
No Consolidated accounts have been produced as the Group is small.
100% of the share capital of NGC Networks Group Limited was acquired by CloudClevr Investments Limited on 25th May 2023.