IRIS Accounts Production v24.3.2.46 13195914 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false false true false Ordinary A 1.00000 Redeemable ordinary 10.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh131959142023-07-31131959142024-07-31131959142023-08-012024-07-31131959142022-07-31131959142022-08-012023-07-31131959142023-07-3113195914ns15:EnglandWales2023-08-012024-07-3113195914ns14:PoundSterling2023-08-012024-07-3113195914ns10:Director12023-08-012024-07-3113195914ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3113195914ns10:SmallEntities2023-08-012024-07-3113195914ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3113195914ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3113195914ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3113195914ns10:FullAccounts2023-08-012024-07-311319591412023-08-012024-07-3113195914ns10:OrdinaryShareClass22023-08-012024-07-3113195914ns10:OrdinaryShareClass12023-08-012024-07-3113195914ns10:Director32023-08-012024-07-3113195914ns10:RegisteredOffice2023-08-012024-07-3113195914ns5:CurrentFinancialInstruments2024-07-3113195914ns5:CurrentFinancialInstruments2023-07-3113195914ns5:ShareCapital2024-07-3113195914ns5:ShareCapital2023-07-3113195914ns5:CapitalRedemptionReserve2024-07-3113195914ns5:CapitalRedemptionReserve2023-07-3113195914ns5:RetainedEarningsAccumulatedLosses2024-07-3113195914ns5:RetainedEarningsAccumulatedLosses2023-07-3113195914ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3113195914ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-012024-07-3113195914ns5:PlantMachinery2023-08-012024-07-3113195914ns5:IntangibleAssetsOtherThanGoodwill2023-07-3113195914ns5:IntangibleAssetsOtherThanGoodwill2024-07-3113195914ns5:IntangibleAssetsOtherThanGoodwill2023-07-3113195914ns5:PlantMachinery2024-07-3113195914ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3113195914ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3113195914ns10:OrdinaryShareClass22024-07-3113195914ns10:OrdinaryShareClass12024-07-31
REGISTERED NUMBER: 13195914 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Netvio Ltd

Netvio Ltd (Registered number: 13195914)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Netvio Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: D Hulbert
J F J Meredith





REGISTERED OFFICE: Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP





REGISTERED NUMBER: 13195914 (England and Wales)





ACCOUNTANTS: Venture
Chartered Accountants
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

Netvio Ltd (Registered number: 13195914)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 316,087 250,819
Tangible assets 5 1,138 -
317,225 250,819

CURRENT ASSETS
Stocks 118,185 13,960
Debtors 6 376,169 215,565
Cash at bank 24,721 59,286
519,075 288,811
CREDITORS
Amounts falling due within one year 7 856,899 514,182
NET CURRENT LIABILITIES (337,824 ) (225,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,599

)

25,448

CAPITAL AND RESERVES
Called up share capital 8 292,001 334,000
Capital redemption reserve 42,000 -
Retained earnings (354,600 ) (308,552 )
SHAREHOLDERS' FUNDS (20,599 ) 25,448

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 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.

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 January 2025 and were signed on its behalf by:



D Hulbert - Director


Netvio Ltd (Registered number: 13195914)

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

1. STATUTORY INFORMATION

Netvio Ltd 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.

Significant judgements and estimates
The directors have revised the amortisation rate of intangible assets. This change is based on their current market knowledge which could change over time. The directors will continue to keep this accounting estimate under review.

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.

Development costs are being amortised evenly over their estimated useful life of forty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 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.

Netvio Ltd (Registered number: 13195914)

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

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023 257,250
Additions 73,538
At 31 July 2024 330,788
AMORTISATION
At 1 August 2023 6,431
Charge for year 8,270
At 31 July 2024 14,701
NET BOOK VALUE
At 31 July 2024 316,087
At 31 July 2023 250,819

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,707
At 31 July 2024 1,707
DEPRECIATION
Charge for year 569
At 31 July 2024 569
NET BOOK VALUE
At 31 July 2024 1,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 310,380 142,735
Other debtors 65,789 72,830
376,169 215,565

Netvio Ltd (Registered number: 13195914)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 746,584 434,088
Taxation and social security 24,026 21,106
Other creditors 86,289 58,988
856,899 514,182

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary A 1 1 -

Allotted and issued:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
29,200 Redeemable shares £10 292,000 334,000

During the year the company purchased and cancelled 4200 ordinary £10 shares. The remaining ordinary £10 shares were converted to redeemable shares.

9. GOING CONCERN

The latest financial results are inline with expectations as Netvio continues to invest in it's core products and software platform. Market share will continue to increase along with expected improvements in all financial criteria. Shareholders fully support Netvio through it's early start-up phase.