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Registration number: 03909819

Net Resource Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Net Resource Services Limited

Contents

Company Information

1

Statement of Financial position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Net Resource Services Limited

Company Information

Directors

Mr Frank Peter Coppard

Mrs Gaynor Coppard

Registered office

White Lodge
Lodge Farm Close
Bramhall
Stockport
SK7 3BZ

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Altrincham Business Park
Altrincham
WA14 5GL

 

Net Resource Services Limited

(Registration number: 03909819)
Statement of Financial position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

450

1,308

Current assets

 

Debtors

5

10,975

7,275

Cash at bank and in hand

 

44,226

36,281

 

55,201

43,556

Creditors: Amounts falling due within one year

6

(21,880)

(23,958)

Net current assets

 

33,321

19,598

Net assets

 

33,771

20,906

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

33,671

20,806

Shareholders' funds

 

33,771

20,906

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 29 August 2024 and signed on its behalf by:
 

.........................................
Mr Frank Peter Coppard
Director

 

Net Resource Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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:
White Lodge
Lodge Farm Close
Bramhall
Stockport
SK7 3BZ

These financial statements were authorised for issue by the Board on 29 August 2024.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

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

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Net Resource Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Computer Equipment

@ 25% SLM

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Net Resource Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

5,567

5,567

At 30 June 2024

5,567

5,567

Depreciation

At 1 July 2023

4,259

4,259

Charge for the year

858

858

At 30 June 2024

5,117

5,117

Carrying amount

At 30 June 2024

450

450

At 30 June 2023

1,308

1,308

5

Debtors

Current

2024
£

2023
£

Trade debtors

10,975

7,275

 

10,975

7,275

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

9,900

8,278

Accruals and deferred income

674

674

Other creditors

11,306

15,006

21,880

23,958

7

Share capital

Allotted, called up and fully paid shares

 

Net Resource Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100