Nettworx3 Ltd
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Enter data in the white spaces Enter numbers as + unless indicated Current year Comparative
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Company registration number NI623031
Date
Approval date of the accounts by the board 10/11/2023
Date
Date of signing on the audit/accountants report 10/11/2023
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Mr Conor Lavery
Or, name of secretary
Name of director signing balance sheet Mr Conor Lavery
Address of registered office:
Address line 1 38a Drumkeeragh Road
Address line 2 Ballynahinch
City or town Co.Down
County or region
Postcode BT24 8QU
Name of senior statutory auditor
Name of auditors/accountants Roisin Mc Avoy
Type of firm (eg Chartered Accountants) Chartered Accountant & Registered Auditor
Address of auditors/accountants
Address line 1 4 Millvale Road
Address line 2 Annaclone
City or town Banbridge
County or region
Postcode BT32 5AG
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 0 0
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
NI623031
Nettworx3 Ltd
Filleted Accounts
28 February 2023
Nettworx3 Ltd
Registered number: NI623031
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 182,625 203,532
Current assets
Debtors 3 2,562 2,562
Investments held as current assets 4 402,000 402,000
Cash at bank and in hand 45,370 13,192
449,932 417,754
Creditors: amounts falling due within one year 5 (85,160) (113,143)
Net current assets 364,772 304,611
Net assets 547,397 508,143
Capital and reserves
Called up share capital 2 2
Profit and loss account 547,395 508,141
Shareholders' funds 547,397 508,143
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Conor Lavery
Director
Approved by the board on 10 November 2023
Nettworx3 Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 37,615 289,747 65,000 392,362
Additions - - (6,500) (6,500)
At 28 February 2023 37,615 289,747 58,500 385,862
Depreciation
At 1 March 2022 - 178,330 10,500 188,830
Charge for the year - 14,407 - 14,407
At 28 February 2023 - 192,737 10,500 203,237
Net book value
At 28 February 2023 37,615 97,010 48,000 182,625
At 28 February 2022 37,615 111,417 54,500 203,532
3 Debtors 2023 2022
£ £
Other debtors 2,560 2,560
Other debtors 2 2
2,562 2,562
4 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 402,000 402,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 81,530 109,432
Taxation and social security costs 3,600 2,762
Other creditors 30 949
85,160 113,143
6 Other information
Nettworx3 Ltd is a private company limited by shares and incorporated in Northern Ireland Its registered office is:
38a Drumkeeragh Road
Ballynahinch
Co.Down
BT24 8QU
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