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Company No: 12154118 (England and Wales)

NETLOGIX HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

NETLOGIX HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

NETLOGIX HOLDINGS LIMITED

BALANCE SHEET

As at 31 January 2024
NETLOGIX HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 126,837 126,837
126,837 126,837
Current assets
Debtors 4 1,687 3,103
Cash at bank and in hand 137,112 87,319
138,799 90,422
Creditors: amounts falling due within one year 5 ( 4,851) ( 7,862)
Net current assets 133,948 82,560
Total assets less current liabilities 260,785 209,397
Net assets 260,785 209,397
Capital and reserves
Called-up share capital 6 1,550 1,550
Profit and loss account 259,235 207,847
Total shareholder's funds 260,785 209,397

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Netlogix Holdings Limited (registered number: 12154118) were approved and authorised for issue by the Director on 11 September 2024. They were signed on its behalf by:

Mr S Morris
Director
NETLOGIX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
NETLOGIX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Netlogix Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 30e Forresters Business Park, Estover Close, Plymouth, PL6 7PL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 February 2023 126,837 126,837
At 31 January 2024 126,837 126,837
Accumulated depreciation
At 01 February 2023 0 0
At 31 January 2024 0 0
Net book value
At 31 January 2024 126,837 126,837
At 31 January 2023 126,837 126,837

4. Debtors

2024 2023
£ £
Trade debtors 0 1,440
Other debtors 1,687 1,663
1,687 3,103

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 9
Taxation and social security 2,866 7,224
Other creditors 1,985 629
4,851 7,862

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,425 Ordinary shares of £ 1.00 each 1,425 1,425
75 Ordinary B shares of £ 1.00 each 75 75
1,500 1,500
50 Redeemable preference shares of £ 1.00 each 50 50
1,550 1,550