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REGISTERED NUMBER: 04127721 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Netlane Limited

Netlane Limited (Registered number: 04127721)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Netlane Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mrs C Fox





SECRETARY: Mrs K L Fox-Churchill





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





REGISTERED NUMBER: 04127721 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Netlane Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Netlane Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Netlane Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Netlane Limited and state those matters that we have agreed to state to the director of Netlane Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Netlane Limited and its director for our work or for this report.

It is your duty to ensure that Netlane Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Netlane Limited. You consider that Netlane Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Netlane Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


9 January 2025

Netlane Limited (Registered number: 04127721)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,158,315 1,130,063

CURRENT ASSETS
Debtors 5 357 319
Cash at bank 3,976 2,292
4,333 2,611
CREDITORS
Amounts falling due within one year 6 127,255 146,431
NET CURRENT LIABILITIES (122,922 ) (143,820 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,035,393

986,243

CREDITORS
Amounts falling due after more than one
year

7

(139,955

)

(141,962

)

PROVISIONS FOR LIABILITIES (117,189 ) (110,126 )
NET ASSETS 778,249 734,155

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 468,649 447,461
Retained earnings 309,500 286,594
SHAREHOLDERS' FUNDS 778,249 734,155

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 9 January 2025 and were signed by:





Mrs C Fox - Director


Netlane Limited (Registered number: 04127721)

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

1. STATUTORY INFORMATION

Netlane 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 as modified by the revaluation of certain assets.

Rental income
Rental income is recognised on a cash basis.

Investment property
Investment properties are revalued annually and any surplus or deficit in fair value is recognised through the profit and loss. No depreciation is provided in respect of investment properties.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Netlane Limited (Registered number: 04127721)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 1,130,063
Revaluations 28,252
At 31 July 2024 1,158,315
NET BOOK VALUE
At 31 July 2024 1,158,315
At 31 July 2023 1,130,063

£   
Valuations 2013-2019 884,999
Valuation in 2020 65,000
Valuation in 2021 100,000
Valuation in 2022 52,500
Valuation in 2023 27,563
Valuation in 2024 28,252
1,158,314

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 357 319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,017 1,965
Taxation and social security 5,373 5,660
Other creditors 119,865 138,806
127,255 146,431

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 139,955 141,962

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 136,500 136,494

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 136,500 136,494

The bank loan is secured against the properties of the Company.

Netlane Limited (Registered number: 04127721)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 August 2023 447,461
Property revaluation 28,251
Deferred tax movement (7,063 )

At 31 July 2024 468,649