Node Technologies Limited 10637514 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the provision of telecommunications infrastructure services. Digita Accounts Production Advanced 6.30.9574.0 true true 10637514 2022-07-01 2023-06-30 10637514 2023-06-30 10637514 bus:OrdinaryShareClass1 2023-06-30 10637514 core:CurrentFinancialInstruments 2023-06-30 10637514 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10637514 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10637514 core:FurnitureFittingsToolsEquipment 2023-06-30 10637514 bus:SmallEntities 2022-07-01 2023-06-30 10637514 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10637514 bus:FullAccounts 2022-07-01 2023-06-30 10637514 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10637514 bus:RegisteredOffice 2022-07-01 2023-06-30 10637514 bus:Director2 2022-07-01 2023-06-30 10637514 bus:Director4 2022-07-01 2023-06-30 10637514 bus:Director5 2022-07-01 2023-06-30 10637514 bus:Director6 2022-07-01 2023-06-30 10637514 bus:Director7 2022-07-01 2023-06-30 10637514 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 10637514 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10637514 core:FurnitureFittings 2022-07-01 2023-06-30 10637514 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 10637514 core:OfficeEquipment 2022-07-01 2023-06-30 10637514 countries:EnglandWales 2022-07-01 2023-06-30 10637514 2022-06-30 10637514 core:FurnitureFittingsToolsEquipment 2022-06-30 10637514 2021-07-01 2022-06-30 10637514 2022-06-30 10637514 bus:OrdinaryShareClass1 2022-06-30 10637514 core:CurrentFinancialInstruments 2022-06-30 10637514 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 10637514 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 10637514 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10637514

Node Technologies Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Node Technologies Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Node Technologies Limited

Company Information

Directors

Mr Paul Crookes

Mr David Walker

Mr Christian Anderton

Mr Russell Dobson

Mr Christopher Jackman

Registered office

York House
20 York Street
Manchester
M2 3BB

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Node Technologies Limited

(Registration number: 10637514)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

62,659

3,421

Current assets

 

Debtors

5

490,313

47,545

Cash at bank and in hand

 

19,241

15,534

 

509,554

63,079

Creditors: Amounts falling due within one year

6

(1,465,532)

(585,160)

Net current liabilities

 

(955,978)

(522,081)

Total assets less current liabilities

 

(893,319)

(518,660)

Creditors: Amounts falling due after more than one year

6

(19,262)

(36,164)

Net liabilities

 

(912,581)

(554,824)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(912,681)

(554,924)

Shareholders' deficit

 

(912,581)

(554,824)

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 7 February 2024 and signed on its behalf by:
 

.........................................
Mr Paul Crookes
Director

 

Node Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
York House
20 York Street
Manchester
M2 3BB
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Node Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Fixtures and fittings

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Node Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Node Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 5).

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 July 2022

9,050

9,050

Additions

68,713

68,713

At 30 June 2023

77,763

77,763

Depreciation

At 1 July 2022

5,629

5,629

Charge for the year

9,475

9,475

At 30 June 2023

15,104

15,104

Carrying amount

At 30 June 2023

62,659

62,659

At 30 June 2022

3,421

3,421

5

Debtors

Current

2023
£

2022
£

Trade debtors

194,140

42,606

Prepayments

3,676

4,939

Other debtors

292,497

-

 

490,313

47,545

 

Node Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Due within one year

Note

2023
£

2022
£

Loans and borrowings

17,054

31,489

Trade creditors

 

110,763

71,421

Taxation and social security

 

69,844

8,661

Accruals and deferred income

 

1,037,181

3,609

Other creditors

 

230,690

469,980

 

1,465,532

585,160

Due after more than one year

Note

2023
£

2022
£

Loans and borrowings

19,262

36,164

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £153,142 (2022 - £Nil).