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Registration number: 03401551

Network Twentyone Support Systems Limited

Annual Report and Filleted Financial Statements

for the Year Ended 31 December 2023

 

Network Twentyone Support Systems Limited

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 10

 

Network Twentyone Support Systems Limited

Company Information

Directors

Mr J P Neuber

Mr A T Livingston

Registered office

7 Wellington Square
Hastings
East Sussex
TN34 1PD

Auditors

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Network Twentyone Support Systems Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

114,024

111,565

Distribution costs

 

-

10

Administrative expenses

 

(116,162)

(115,175)

Operating loss

 

(2,138)

(3,600)

Loss before tax

(2,138)

(3,600)

Loss for the financial year

 

(2,138)

(3,600)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Network Twentyone Support Systems Limited

(Registration number: 03401551)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

146

728

Current assets

 

Debtors

6

1,183

-

Cash at bank and in hand

 

13,677

15,684

 

14,860

15,684

Creditors: Amounts falling due within one year

7

(3,517)

(2,785)

Net current assets

 

11,343

12,899

Net assets

 

11,489

13,627

Capital and reserves

 

Called up share capital

2

2

Retained earnings

11,487

13,625

Shareholders' funds

 

11,489

13,627

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2024 and signed on its behalf by:
 

.........................................
Mr J P Neuber
Director

 

Network Twentyone Support Systems Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

2

13,625

13,627

Loss for the year

-

(2,138)

(2,138)

At 31 December 2023

2

11,487

11,489

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

2

17,225

17,227

Loss for the year

-

(3,600)

(3,600)

At 31 December 2022

2

13,625

13,627

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
7 Wellington Square
Hastings
East Sussex
TN34 1PD
England

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 presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 8 April 2024 was A.E.J. Staples, who signed for and on behalf of Manningtons.

.........................................

Exemption from preparing group accounts

The financial statements contain information about Network Twentyone Support Systems Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, N21 Holdings Inc, a company incorporated in USA.

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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

Plant & Equipment

25% Reducing balance

Fixtures & Equipment

33.33% Straight Line

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 at the transaction price, 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.

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 at the transaction price.

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.

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Financial instruments

Classification
The company does not hold any financial instruments.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

1,350

1,350

Other accountancy services

Accountancy fees

1,200

950


 

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,908

1,785

3,693

Disposals

(437)

-

(437)

At 31 December 2023

1,471

1,785

3,256

Depreciation

At 1 January 2023

1,180

1,785

2,965

Charge for the year

145

-

145

At 31 December 2023

1,325

1,785

3,110

Carrying amount

At 31 December 2023

146

-

146

At 31 December 2022

728

-

728

6

Debtors

2023
£

2022
£

Other debtors

1,183

-

1,183

-

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,117

585

Accruals and deferred income

2,400

2,200

3,517

2,785

 

Network Twentyone Support Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Summary of transactions with associates

There was £90,024 of income from associates and no purchases.
 

Summary of transactions with other related parties

Ambassasor Marketing UK Ltd a company in which J P Neuber is a director.
 During the period sales of £24,000 were made to Ambassador Marketing UK Ltd.
 

Income and receivables from related parties

2023

Associates
£

Other related parties
£

Receipt of services

90,024

24,000

2022

Associates
£

Other related parties
£

Receipt of services

99,565

12,000

9

Parent and ultimate parent undertaking

The company's immediate parent is N21 Holdings Inc, incorporated in USA.

  These financial statements are available upon request from N21 Holdings Inc, 208 Belleair Shores, Florida 33786 USA