REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
NATIONAL BROADBAND LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
NATIONAL BROADBAND LIMITED |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
NATIONAL BROADBAND LIMITED |
Company Information |
for the year ended 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Provisions for liabilities | 8 |
Net assets/(liabilities) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
National Broadband Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
The presentation currency of the financial statements is the Pound Sterling (£). |
Going concern |
Although the financial performance of the company has been improving the company continues to retain a net current liability position on the Balance Sheet, therefore the going concern assessment has been based on the fact that continued support is available for the company from their majority shareholder, Neem Holdings Limited and a letter of support has been provided to confirm this. As a result the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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. |
Tangible fixed assets |
Computer equipment | - |
Stock |
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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 |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | Intangible fixed assets |
Computer |
software |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Amortisation |
At 1 April 2023 |
Amortisation for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
NATIONAL BROADBAND LIMITED (REGISTERED NUMBER: 11222704) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
8. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 405 | 622 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year | ( |
) |
Balance at 31 March 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A Shares | 1 | 98,250 | 98,250 |
Ordinary B Shares | 1 | 33,375 | 33,375 |
Ordinary C Shares | 1 | 18,375 | 18,375 |
150,000 | 150,000 |
10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | Ultimate controlling party |
The ultimate controlling party is |
Ultimate parent company |
NEEM Holdings Limited (incorporated in United Kingdom) is regarded by the directors as being the company's ultimate parent company. |
NEEM Holdings Limited is the parent of the smallest and largest group into which the results and financial position of this company are consolidated. Copies of the financial statements of NEEM Holdings Limited are available to the public and may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. |