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REGISTERED NUMBER: 03535327 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

NETWORKING PEOPLE (UK) LIMITED

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NETWORKING PEOPLE (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: Mr S Z Tabassum
Mr R Fiddaman
Ms D Hussey





REGISTERED OFFICE: Part Ground Floor (South)
Broadwalk House
5 Appold Street
London
EC2A 2AG





REGISTERED NUMBER: 03535327 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

BALANCE SHEET
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,358
Tangible assets 5 21,961 89,613
Investments 6 1,011 1,011
22,972 92,982

CURRENT ASSETS
Debtors 7 3,226,069 3,556,379
Cash at bank and in hand 18,492 143,640
3,244,561 3,700,019
CREDITORS
Amounts falling due within one year 8 4,198,235 4,393,596
NET CURRENT LIABILITIES (953,674 ) (693,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(930,702

)

(600,595

)

CREDITORS
Amounts falling due after more than one
year

9

1,634,250

1,271,250
NET LIABILITIES (2,564,952 ) (1,871,845 )

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings (2,664,952 ) (1,971,845 )
(2,564,952 ) (1,871,845 )

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

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

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

BALANCE SHEET - continued
30 September 2023


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 18 November 2024 and were signed on its behalf by:





Mr S Z Tabassum - Director


NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Networking People (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders, the parent undertaking and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 2 years
Plant and machinery - 33% on cost and 25% on cost
Fixtures and fittings - 33% on cost and 25% on cost
Computer equipment - 33% on cost and 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2022 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 October 2022 64,600
Disposals (64,600 )
At 30 September 2023 -
AMORTISATION
At 1 October 2022 62,242
Amortisation for year 2,358
Eliminated on disposal (64,600 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 2,358

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 213,365 38,313 275,475 544,713 1,071,866
Additions - 160 1,397 16,346 17,903
Disposals (213,365 ) - (275,475 ) (527,356 ) (1,016,196 )
At 30 September 2023 - 38,473 1,397 33,703 73,573
DEPRECIATION
At 1 October 2022 144,979 34,781 275,475 527,018 982,253
Charge for year 68,386 1,532 308 15,329 85,555
Eliminated on disposal (213,365 ) - (275,475 ) (527,356 ) (1,016,196 )
At 30 September 2023 - 36,313 308 14,991 51,612
NET BOOK VALUE
At 30 September 2023 - 2,160 1,089 18,712 21,961
At 30 September 2022 68,386 3,532 - 17,695 89,613

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2022
and 30 September 2023 1,011
NET BOOK VALUE
At 30 September 2023 1,011
At 30 September 2022 1,011

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 2,235,757 2,787,419
Amounts owed by group undertakings 761,317 570,130
Other debtors 30,997 40,248
Tax 2,712 2,712
Prepayments 195,286 155,870
3,226,069 3,556,379

NETWORKING PEOPLE (UK) LIMITED (REGISTERED NUMBER: 03535327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 1,203,262 922,688
Hire purchase contracts (see note 10) - 1,175
Trade creditors 1,572,226 1,931,594
Amounts owed to group undertakings 150,197 -
Social security and other taxes 206,340 113,709
Value added tax 172,878 98,742
Other creditors 116,204 302,216
Accruals 777,128 1,023,472
4,198,235 4,393,596

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 47,000 47,000
Bank loans - 2-5 years 35,250 82,250
Loan notes 1,552,000 1,142,000
1,634,250 1,271,250

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year - 1,175

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 154,991 -
Between one and five years 116,243 -
271,234 -