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REGISTERED NUMBER: 11222704 (England and Wales)














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: Mr M P Carver
Mr D G Hennell
Mrs L Carver





Registered office: 3 Phoenix Park
Apsley Way
London
NW2 7LN





Registered number: 11222704 (England and Wales)





Auditors: Cooper Parry Group Limited
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 4 834 3,334
Tangible assets 5 3,315 3,273
4,149 6,607

Current assets
Stocks 39,825 6,140
Debtors 6 10,486 10,464
Cash at bank 147,746 167,492
198,057 184,096
Creditors
Amounts falling due within one year 7 199,124 205,050
Net current liabilities (1,067 ) (20,954 )
Total assets less current liabilities 3,082 (14,347 )

Provisions for liabilities 8 405 622
Net assets/(liabilities) 2,677 (14,969 )

Capital and reserves
Called up share capital 9 150,000 150,000
Retained earnings (147,323 ) (164,969 )
Shareholders' funds 2,677 (14,969 )

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 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 21 August 2024 and were signed on its behalf by:





Mr M P Carver - Director


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 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 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

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 8 (2023 - 8 ) .

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 23,846
Amortisation
At 1 April 2023 20,512
Amortisation for year 2,500
At 31 March 2024 23,012
Net book value
At 31 March 2024 834
At 31 March 2023 3,334

5. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 April 2023 6,525
Additions 1,184
At 31 March 2024 7,709
Depreciation
At 1 April 2023 3,252
Charge for year 1,142
At 31 March 2024 4,394
Net book value
At 31 March 2024 3,315
At 31 March 2023 3,273

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 525 1,853
Other debtors 9,961 8,611
10,486 10,464

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 149,582 155,111
Amounts owed to group undertakings - 484
Taxation and social security 39,000 37,597
Other creditors 10,542 11,858
199,124 205,050

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 622
Provided during year (217 )
Balance at 31 March 2024 405

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
98,250 Ordinary A Shares 1 98,250 98,250
33,375 Ordinary B Shares 1 33,375 33,375
18,375 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.

Andrew Cross (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

11. Ultimate controlling party

The ultimate controlling party is Mr Abbas Arbab-Zadeh.

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.