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Registered number: 08043329
Network Group Events Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08043329
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 29,845 40,255
Tangible Assets 5 14,688 18,903
44,533 59,158
CURRENT ASSETS
Stocks 6 255,852 273,586
Debtors 7 218,600 328,941
Cash at bank and in hand 203,266 421,554
677,718 1,024,081
Creditors: Amounts Falling Due Within One Year 8 (653,960 ) (891,988 )
NET CURRENT ASSETS (LIABILITIES) 23,758 132,093
TOTAL ASSETS LESS CURRENT LIABILITIES 68,291 191,251
Creditors: Amounts Falling Due After More Than One Year 9 (44,780 ) (88,315 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,672 ) (8,871 )
NET ASSETS 19,839 94,065
CAPITAL AND RESERVES
Called up share capital 10 108 108
Profit and Loss Account 19,731 93,957
SHAREHOLDERS' FUNDS 19,839 94,065
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jacob Summerfield
Director
20 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Network Group Events Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08043329 . The registered office is 24 Picton House, Hussar Court, Waterlooville, Hampshire, PO7 7SQ.
The presentation currency of the financial statements is the Pound Sterling (£).
Accounts are rounded to the nearest pound.
The accounts represent the company as an individual entity.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period.  These estimates and assumptions are based on management's best knowledge of the amount, events or actions.  Actual results may differ from those amounts.
Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2023: 39)
32 39
4. Intangible Assets
Other
£
Cost
As at 1 November 2023 146,549
Additions 5,132
As at 31 October 2024 151,681
Amortisation
As at 1 November 2023 106,294
Provided during the period 15,542
As at 31 October 2024 121,836
Net Book Value
As at 31 October 2024 29,845
As at 1 November 2023 40,255
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 2,620 47,003 49,623
Additions - 7,044 7,044
Disposals - (400 ) (400 )
As at 31 October 2024 2,620 53,647 56,267
...CONTINUED
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Page 5
Depreciation
As at 1 November 2023 944 29,776 30,720
Provided during the period 335 10,680 11,015
Disposals - (156 ) (156 )
As at 31 October 2024 1,279 40,300 41,579
Net Book Value
As at 31 October 2024 1,341 13,347 14,688
As at 1 November 2023 1,676 17,227 18,903
6. Stocks
31 October 2024 31 October 2023
£ £
Work in progress 255,852 273,586
7. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Trade debtors 49,604 150,550
Amounts owed by group undertakings 426 -
Other debtors 168,570 178,391
218,600 328,941
8. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Trade creditors 62,795 30,900
Bank loans and overdrafts 311,840 42,289
Amounts owed to participating interests - 291,615
Other creditors 205,780 354,059
Taxation and social security 73,545 173,125
653,960 891,988
9. Creditors: Amounts Falling Due After More Than One Year
31 October 2024 31 October 2023
£ £
Bank loans 44,780 88,315
10. Share Capital
31 October 2024 31 October 2023
£ £
Allotted, Called up and fully paid 108 108
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