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REGISTERED NUMBER: 12124738 (England and Wales)















Financial Statements

for the Period 1 April 2022 to 30 March 2023

for

NETWORK PLUS GROUP LIMITED

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

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 GROUP LIMITED

Company Information
for the period 1 April 2022 to 30 March 2023







Directors: D L Holland
M Porter
K A Fowlie





Registered office: Chaddock Lane
Worsley
Greater Manchester
M28 1XW





Registered number: 12124738 (England and Wales)





Auditors: Haines Watts
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Balance Sheet
30 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 5 103,351,560 103,351,560

Current assets
Debtors 6 25,935,024 22,767,748
Cash at bank 251,375 71,421
26,186,399 22,839,169
Creditors
Amounts falling due within one year 7 99,804,372 13,325,371
Net current (liabilities)/assets (73,617,973 ) 9,513,798
Total assets less current liabilities 29,733,587 112,865,358

Creditors
Amounts falling due after more than one
year

8

36,558,000

111,558,000
Net (liabilities)/assets (6,824,413 ) 1,307,358

Capital and reserves
Called up share capital 9 23 23
Other reserves 2,040 2,040
Retained earnings (6,826,476 ) 1,305,295
Shareholders' funds (6,824,413 ) 1,307,358

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





D L Holland - Director


NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements
for the period 1 April 2022 to 30 March 2023


1. Statutory information

Network Plus Group 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company had net liabilities as at the year end and so is dependent on the support of other group companies. The group has confirmed that this support will be made available if required.

The financial statements have therefore been prepared on a going concern basis.

The company has taken advantage of the exemption available under the Companies Act 2006 not to prepare consolidated financial statements because it is included in the consolidated financial statement of Nyetimber Finco Limited, which are publicly available on Companies House.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


4. Employees and directors

The average number of employees during the period was 15 (2022 - 15 ) .

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2022
and 30 March 2023 103,351,560
Net book value
At 30 March 2023 103,351,560
At 31 March 2022 103,351,560

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Network Plus Topco Limited
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Holding company
%
Class of shares: holding
A - I Ordinary 100.00

Network Plus Consulting Limited*
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Dormant
%
Class of shares: holding
A Ordinary 100.00
B Ordinary 100.00

Network Plus Utility Services Limited*
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Network Plus Services Limited**
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Civil engineering
%
Class of shares: holding
Ordinary 100.00

Go Traffic Management Limited**
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Traffic management
%
Class of shares: holding
Ordinary 100.00

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


5. Fixed asset investments - continued

Network Plus Plant Hire Limited**
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Overlec Limited***
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Civil engineering
%
Class of shares: holding
Ordinary 100.00

Network Plus Multi Utility Limited***
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Civil engineering
%
Class of shares: holding
Ordinary 100.00

EOS Contracting Limited***
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Tree felling
%
Class of shares: holding
Ordinary 100.00

Capital Traffic Management Limited****
Registered office: Chaddock Lane, Worsley, Manchester M28 1XW
Nature of business: Traffic management
%
Class of shares: holding
Ordinary 100.00

* Shares held by Network Plus Topco Limited.
** Shares held by Network Plus Utility Services Limited.
*** Shares held by Network Plus Services Limited
**** Shares held by Go Traffic Management Limited.

6. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 21,368,640 21,368,640
Other debtors 4,566,384 1,399,108
25,935,024 22,767,748

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 423 413
Amounts owed to group undertakings 97,636,934 7,742,658
Social security and other taxes 123,380 111,797
Other creditors 21,661 -
Accruals and deferred income 2,021,974 5,470,503
99,804,372 13,325,371

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loan - 2-5 yrs - 75,000,000
Preference shares 36,558,000 36,558,000
36,558,000 111,558,000

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


9. Called up share capital

Allotted, issued and
fully paid:

2023 2022
Number: Class: Nominal value £ £

584 B Ordinary 0.1p 1 1
584 C Ordinary 0.1p 1 1
385 D Ordinary 0.1p 1 1
385 E Ordinary 0.1p 1 1
268 F Ordinary 0.1p 1 1
46 F2 Ordinary 0.1p - -
268 G Ordinary 0.1p 1 1
46 G2 Ordinary 0.1p - -
268 H Ordinary 0.1p 1 1
46 H2 Ordinary 0.1p - -
105 I Ordinary 0.1p - -
105 J Ordinary 0.1p - -
105 K Ordinary 0.1p - -
105 L Ordinary 0.1p - -
105 M Ordinary 0.1p - -
58 N Ordinary 0.1p - -
70 O Ordinary 0.1p - -
70 P Ordinary 0.1p - -
1,118,600 X Ordinary 0.0001p 1 1
4,474,400 Y Ordinary 0.0001p 4 4
10,771,200 Z Deferred Ordinary 0.0001p 11 11
58,874 Z1 Ordinary 0.0001p - -
23 23

All shares are entitled to dividends as declared for each class but only the X and Y ordinary shares have voting rights.

In the event of a winding up the W shares are entitled to the first £36,558,000 at £10 per share.
Any excess over £50m is payable as follows:

B Shares 2.5%
C Shares 2.5%
D Shares 1.65%
E Shares 1.65%
F Shares 1.15%
F2 Shares 0.2%
G Shares 1.15%
G2 shares 0.2%
H Shares 1.15%
H2 Shares 0.2%
I Shares 0.45%
J Shares 0.45%
K Shares 0.45%
L Shares 0.45%
M Shares 0.45%
N Shares 0.25%
O shares 0.3%
P Shares 0.3%
X Shares 19.8%
Z1 Shares 1.0%

The Y shares are entitled to any remaining assets.
The Z shares are entitled to a return of nominal value only.

NETWORK PLUS GROUP LIMITED (REGISTERED NUMBER: 12124738)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

David Fort FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts

11. Ultimate controlling party

The immediate parent company, by virtue of its 100% shareholding, is Nyetimber Bidco 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.