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REGISTERED NUMBER: 13050952 (England and Wales)















Directors' Report and

Unaudited Financial Statements for the Year Ended 30 November 2023

for

Simwood Networks Limited

Simwood Networks Limited (Registered number: 13050952)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Directors' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Simwood Networks Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: S P Woodhead
C R Chance
Simwood Group PLC





REGISTERED OFFICE: Simwood House
Cube M4 Business Park
Bristol
BS16 1FX





REGISTERED NUMBER: 13050952 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Simwood Networks Limited (Registered number: 13050952)

Directors' Report
for the Year Ended 30 November 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
Simwood Networks Limited ("the Company") is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The address of the Company's registered office is as shown on page 1.

The Company is wholly owned by Simwood Group PLC.

The collective group ("Simwood", "we", or "us") provides vertically integrated telecommunication services from carrier, through reseller, to end-user.

REVIEW OF BUSINESS
Simwood predominantly sells a complete range of telephony services, including telephone numbers, the ability to complete calls and associated infrastructure as a service, such as hosting telephone numbers for other Network Operators. It derives revenue either from service charges for those services or from call charges. Where calls are involved, revenue and/or cost of sales can be derived from both customers and market counterparties (such as British Telecommunications plc ("BT")) depending on the particular nature of the particular call concerned.

Simwood also operates as an Internet Service Provider utilising its own extensive network not only to convey its own traffic, but also to provide Internet access to customers at all levels. Simwood Networks was incorporated to obtain Code Powers and hold associated fibre-optic assets.

PERFORMANCE
Your attention is drawn to the full accounts for Simwood Group PLC, and in particular the Strategic Report therein.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

S P Woodhead
C R Chance
Simwood Group PLC

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Director


21 August 2024

Simwood Networks Limited (Registered number: 13050952)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,586 29,586

CURRENT ASSETS
Debtors 5 10,163 10,194
Cash at bank 541 10
10,704 10,204
CREDITORS
Amounts falling due within one year 6 4,000 -
NET CURRENT ASSETS 6,704 10,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,290

39,790

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 36,290 38,790
SHAREHOLDERS' FUNDS 37,290 39,790

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 21 August 2024 and were signed on its behalf by:





S P Woodhead - Director


Simwood Networks Limited (Registered number: 13050952)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Simwood 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
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.

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 - 15% on cost

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

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

Simwood Networks Limited (Registered number: 13050952)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2022 33,439
Additions 1,000
At 30 November 2023 34,439
DEPRECIATION
At 1 December 2022
and 30 November 2023 3,853
NET BOOK VALUE
At 30 November 2023 30,586
At 30 November 2022 29,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,012 10,012
Other debtors 151 182
10,163 10,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 4,000 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000