REGISTERED NUMBER: |
Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
for |
NETWORK PLUS CONSULTING LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
for |
NETWORK PLUS CONSULTING LIMITED |
NETWORK PLUS CONSULTING LIMITED (REGISTERED NUMBER: 11246453) |
Contents of the Financial Statements |
for the period 1 April 2022 to 30 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NETWORK PLUS CONSULTING LIMITED |
Company Information |
for the period 1 April 2022 to 30 March 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
NETWORK PLUS CONSULTING LIMITED (REGISTERED NUMBER: 11246453) |
Balance Sheet |
30 March 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
NETWORK PLUS CONSULTING LIMITED (REGISTERED NUMBER: 11246453) |
Notes to the Financial Statements |
for the period 1 April 2022 to 30 March 2023 |
1. | Statutory information |
Network Plus Consulting Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
The company does not trade. It is not, therefore, appropriate to prepare the financial statements on the going concern basis. However, no adjustments are required to the figures in the financial statements as a result of having ceased to trade. |
The company has net liabilities and so is dependent on the support of other group companies. |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
There are no assets which are initially measured at fair value. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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 payment is due within one year or less. If not, they are presented as non-current liabilities. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
NETWORK PLUS CONSULTING LIMITED (REGISTERED NUMBER: 11246453) |
Notes to the Financial Statements - continued |
for the period 1 April 2022 to 30 March 2023 |
3. | Accounting policies - continued |
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 period 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. |
4. | Employees and directors |
The average number of employees during the period was NIL (2022 - NIL). |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Accrued expenses |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | £1 | 160 | 160 |
B Ordinary | £1 | 40 | 40 |
200 | 200 |
8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | Contingent liabilities |
The company has guaranteed the bank loans and overdrafts of its parent and subsidiary undertakings. At 30 March 2023 the indebtedness of these companies was £nil (2022 - £75,000,000). |
NETWORK PLUS CONSULTING LIMITED (REGISTERED NUMBER: 11246453) |
Notes to the Financial Statements - continued |
for the period 1 April 2022 to 30 March 2023 |
10. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | Ultimate controlling party |
The immediate parent company, by virtue of its 100% shareholding, is Network Plus Topco Limited, a company registered in the United Kingdom. |
Nyetimber Finco Limited, a company registered in the United Kingdom, is the parent undertaking of the smallest group of undertakings to consolidate these financial statements. OMERS Administration Corporation is the beneficial owner of Nyetimber Finco Limited. |