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REGISTERED NUMBER: 01569885 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

NET SUPPLY CO. LIMITED

NET SUPPLY CO. LIMITED (REGISTERED NUMBER: 01569885)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NET SUPPLY CO. LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTOR: Mr J R Howard





SECRETARY: Mr J R Howard





REGISTERED OFFICE: 17 St Peters Place
Fleetwood
Lancashire
FY7 6EB





REGISTERED NUMBER: 01569885 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
Chartered Accountants
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

NET SUPPLY CO. LIMITED (REGISTERED NUMBER: 01569885)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 50,696 50,696

CURRENT ASSETS
Debtors 5 177,159 255,130
Cash at bank 850,604 712,211
1,027,763 967,341
CREDITORS
Amounts falling due within one year 6 (429,013 ) (370,114 )
NET CURRENT ASSETS 598,750 597,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,446

647,923

CAPITAL AND RESERVES
Called up share capital 90 90
Capital redemption reserve 30 30
Retained earnings 649,326 647,803
SHAREHOLDERS' FUNDS 649,446 647,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:





Mr J R Howard - Director


NET SUPPLY CO. LIMITED (REGISTERED NUMBER: 01569885)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Net Supply Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Grants
During the year the company received government support in the form of the Coronavirus Job Retention Scheme and local authority support in the form of a small business grant. These have been recognised under the accruals model and included in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

NET SUPPLY CO. LIMITED (REGISTERED NUMBER: 01569885)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 50,696 57,874 2,066 110,636
DEPRECIATION
At 1 July 2022
and 30 June 2023 - 57,874 2,066 59,940
NET BOOK VALUE
At 30 June 2023 50,696 - - 50,696
At 30 June 2022 50,696 - - 50,696

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 166,504 246,584
Other debtors 8,000 8,000
Prepayments 2,655 546
177,159 255,130

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 284,649 313,402
Tax 592 8,637
Social security and other taxes 3,062 3,111
VAT 7,405 11,740
Other creditors 100,000 1,531
Directors' current accounts 8,219 9,232
Accruals and deferred income 25,086 22,461
429,013 370,114

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,000 were paid to the directors .