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REGISTERED NUMBER: 05127651 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Net Coverage Solutions Ltd

Net Coverage Solutions Ltd (Registered number: 05127651)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Net Coverage Solutions Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr T P Ashworth
Mr G Duke
Mr M R D Gant
Mr A N Hutchins
Mr P P Morrell-Brown
Mrs H A Sammon





REGISTERED OFFICE: Craven Court
Stanhope Road
Camberley
Surrey
GU15 3BS





REGISTERED NUMBER: 05127651 (England and Wales)





ACCOUNTANTS: KKVMS LLP
Chartered Certified Accountants
Capital Tower
91 Waterloo Road
London
SE1 8RT

Net Coverage Solutions Ltd (Registered number: 05127651)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,363 185,132
Investments 5 100 100
245,463 185,232

CURRENT ASSETS
Stocks 60,465 95,040
Debtors 6 3,564,572 5,748,982
Cash at bank 91,511 72,588
3,716,548 5,916,610
CREDITORS
Amounts falling due within one year 7 2,432,982 3,521,229
NET CURRENT ASSETS 1,283,566 2,395,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,529,029

2,580,613

PROVISIONS FOR LIABILITIES 86,478 37,004
NET ASSETS 1,442,551 2,543,609

CAPITAL AND RESERVES
Called up share capital 8 424,001 424,001
Retained earnings 1,018,550 2,119,608
SHAREHOLDERS' FUNDS 1,442,551 2,543,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Net Coverage Solutions Ltd (Registered number: 05127651)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





Mr P P Morrell-Brown - Director


Net Coverage Solutions Ltd (Registered number: 05127651)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Net Coverage Solutions Ltd 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 to the company's pension scheme are charged to profit or loss in the period to which they relate.

Turnover
Turnover represents revenue from contracted project work for the provision of mobiletelecommunications planning, design, construction and installation services and related lease rentalincome, exclusive of VAT.

Turnover on services provided is recognised on a stage of completion basis, where milestones per the contract have been met. Turnover for lease agreements is recognised on a straight-line basis over the period of the lease.

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed
with reasonable certainty.

The profit included is calculated on a basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts arerecognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year which they are first foreseen.

Net Coverage Solutions Ltd (Registered number: 05127651)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Going concern
The Directors have prepared forecasts for the next 12 months which show that the existing cash reserves
and invoice discounting facility are sufficient to enable the company to continue trading without the
requirement for any additional facilities.

If there is strong demand for new company owned infrastructure coverage sites, the funding for those assets would need to be sourced separately.

The directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 617,719
Additions 129,751
Disposals (29,997 )
At 31 March 2024 717,473
DEPRECIATION
At 1 April 2023 432,587
Charge for year 69,520
Eliminated on disposal (29,997 )
At 31 March 2024 472,110
NET BOOK VALUE
At 31 March 2024 245,363
At 31 March 2023 185,132

Net Coverage Solutions Ltd (Registered number: 05127651)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,578,420 1,975,949
Amounts owed by group undertakings 420,231 1,152,275
Other debtors 1,565,921 2,620,758
3,564,572 5,748,982

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,786 92,803
Trade creditors 671,046 1,221,879
Taxation and social security 376,684 407,524
Other creditors 1,348,466 1,799,023
2,432,982 3,521,229

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
424,001 Ordinary £1 424,001 424,001

9. ULTIMATE CONTROLLING PARTY

The controlling party is Net Holdings Group Limited.