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REGISTERED NUMBER: 10221953 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

INK NETWORKS LIMITED

INK NETWORKS LIMITED (REGISTERED NUMBER: 10221953)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


INK NETWORKS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTORS: J Hayward
E Onditi





REGISTERED OFFICE: Unit 10
394 Camden Road
London
N7 0SJ





REGISTERED NUMBER: 10221953 (England and Wales)

INK NETWORKS LIMITED (REGISTERED NUMBER: 10221953)

ABRIDGED BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,960 21,328
11,960 21,328

CURRENT ASSETS
Debtors 31,800 37,119
Cash at bank 45,652 52,544
77,452 89,663
CREDITORS
Amounts falling due within one year 83,941 97,758
NET CURRENT LIABILITIES (6,489 ) (8,095 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,471

13,233

PROVISIONS FOR LIABILITIES 2,350 4,052
NET ASSETS 3,121 9,181

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,119 9,179
SHAREHOLDERS' FUNDS 3,121 9,181

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 directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2024 and were signed on its behalf by:




J Hayward - Director


INK NETWORKS LIMITED (REGISTERED NUMBER: 10221953)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023


1. STATUTORY INFORMATION

INK Networks 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
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Turnover
Turnover represents sales of IT consultancy services, excluding value added tax, performed during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-33.33% on cost
Leasehold improvements-20% on cost

Government grants
Government grants are recognised in the profit or loss over the period in which the entity recognises related costs for which the grants are intended to compensate.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods.

Current and deferred tax assets and liabilities are not discounted and are 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.

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.

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

INK NETWORKS LIMITED (REGISTERED NUMBER: 10221953)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 1,500
AMORTISATION
At 1 July 2022
and 30 June 2023 1,500
NET BOOK VALUE

At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 34,383
Additions 602
At 30 June 2023 34,985
DEPRECIATION
At 1 July 2022 13,055
Charge for year 9,970
At 30 June 2023 23,025
NET BOOK VALUE
At 30 June 2023 11,960
At 30 June 2022 21,328