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REGISTERED NUMBER: 03863441 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NETWORK INSTALLATION SOLUTIONS LIMITED

NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

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


NETWORK INSTALLATION SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C J Sandison
F Wainwright
D M Wainwright





SECRETARY: D M Wainwright





REGISTERED OFFICE: Cable House
40 Westgate
Skelmersdale
Lancashire
WN8 8AZ





REGISTERED NUMBER: 03863441 (England and Wales)





ACCOUNTANTS: Coburn McKenna - Chartered Accountants
81-83a Allerton Road
Liverpool
Merseyside
L18 2DA

NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 199,194 154,284
199,194 154,284

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 6 2,031,137 1,506,424
Cash at bank and in hand 535,094 743,996
2,611,231 2,295,420
CREDITORS
Amounts falling due within one year 7 769,358 617,299
NET CURRENT ASSETS 1,841,873 1,678,121
TOTAL ASSETS LESS CURRENT LIABILITIES 2,041,067 1,832,405

PROVISIONS FOR LIABILITIES 48,523 36,909
NET ASSETS 1,992,544 1,795,496

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 1,992,454 1,795,406
1,992,544 1,795,496

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.

NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

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 20 November 2024 and were signed on its behalf by:




F Wainwright - Director D M Wainwright - Director




C J Sandison - Director


NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Network Installation Solutions 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£ £ £ £
COST
At 1 April 2023 67,297 96,213 255,451 418,961
Additions 40,637 1,578 51,934 94,149
Disposals - - (13,907 ) (13,907 )
At 31 March 2024 107,934 97,791 293,478 499,203
DEPRECIATION
At 1 April 2023 58,741 73,557 132,379 264,677
Charge for year 6,144 5,894 36,418 48,456
Eliminated on disposal - - (13,124 ) (13,124 )
At 31 March 2024 64,885 79,451 155,673 300,009
NET BOOK VALUE
At 31 March 2024 43,049 18,340 137,805 199,194
At 31 March 2023 8,556 22,656 123,072 154,284

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 April 2023 37,372
Transfer to ownership (37,372 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 28,503
Charge for year 2,217
Transfer to ownership (30,720 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 8,869

NETWORK INSTALLATION SOLUTIONS LIMITED (REGISTERED NUMBER: 03863441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,139,894 413,126
Amounts recoverable on contract - 202,730
Other debtors 891,243 890,568
2,031,137 1,506,424

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts - 623
Trade creditors 183,311 296,833
Taxation and social security 491,653 236,631
Other creditors 94,394 83,212
769,358 617,299

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts - 623

Hire purchase contracts are secured on the assets financed.

9. OTHER FINANCIAL COMMITMENTS

As at the balance sheet date the company had obligations under non-cancellable operating leases of £13,104 (2023: £38,627). All obligations were due within five years of the balance sheet date.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £55,432 (2023: £54,212) in respect of a loan, by Network Investment Service, a partnership in which F Wainwright, D Wainwright and C Sandison are partners. Interest was charged at 2.25% per annum.

At the balance sheet date, the company was owed £710,858 (2023: £710,419) in respect of a loan to a company under the common control of the directors. This loan was interest-free and repayable on demand.

At the balance sheet date, the company was owed £61,667 in respect of advances to the company directors (2023: £59,982). Interest was charged at 2.25% per annum.