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REGISTERED NUMBER: 03129603 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Easy Networks Ltd

Easy Networks Ltd (Registered number: 03129603)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Easy Networks Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: R Gwilliam
R White





REGISTERED OFFICE: Unit 1.1 Central Point
Kirpal Road
Portsmouth
Hampshire
PO3 6FH





REGISTERED NUMBER: 03129603 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Easy Networks Ltd (Registered number: 03129603)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,691 30,658
Tangible assets 5 395,910 272,405
Investments 6 200,000 200,000
618,601 503,063

CURRENT ASSETS
Stocks 7 39,512 44,238
Debtors 8 641,924 420,160
Investments 9 228,843 223,061
Cash at bank 75,108 398,576
985,387 1,086,035
CREDITORS
Amounts falling due within one year 10 404,203 389,915
NET CURRENT ASSETS 581,184 696,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,199,785

1,199,183

CREDITORS
Amounts falling due after more than one
year

11

(14,375

)

(49,713

)

PROVISIONS FOR LIABILITIES (75,211 ) (65,428 )
NET ASSETS 1,110,199 1,084,042

CAPITAL AND RESERVES
Called up share capital 102 102
Share premium 119,998 119,998
Retained earnings 990,099 963,942
SHAREHOLDERS' FUNDS 1,110,199 1,084,042

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Easy Networks Ltd (Registered number: 03129603)

Balance Sheet - continued
31 October 2024


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 7 February 2025 and were signed on its behalf by:





R White - Director


Easy Networks Ltd (Registered number: 03129603)

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

1. STATUTORY INFORMATION

Easy Networks 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2017 & 2018, is being amortised evenly over their estimated useful lives of ten years. The director considers this period to be appropriate given the past history of customer retention of the business acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Easy Networks Ltd (Registered number: 03129603)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has considered and applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, cash and bank balances and loans to fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted as at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt Instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 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.

Easy Networks Ltd (Registered number: 03129603)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Current asset investments
Current asset investments are measured at fair value through the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 79,662
AMORTISATION
At 1 November 2023 49,004
Charge for year 7,967
At 31 October 2024 56,971
NET BOOK VALUE
At 31 October 2024 22,691
At 31 October 2023 30,658

Easy Networks Ltd (Registered number: 03129603)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 609,591
Additions 232,725
Disposals (28,503 )
At 31 October 2024 813,813
DEPRECIATION
At 1 November 2023 337,186
Charge for year 102,669
Eliminated on disposal (21,952 )
At 31 October 2024 417,903
NET BOOK VALUE
At 31 October 2024 395,910
At 31 October 2023 272,405

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 160,550
DEPRECIATION
At 1 November 2023 58,560
Charge for year 25,497
At 31 October 2024 84,057
NET BOOK VALUE
At 31 October 2024 76,493
At 31 October 2023 101,990

Easy Networks Ltd (Registered number: 03129603)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 200,000
NET BOOK VALUE
At 31 October 2024 200,000
At 31 October 2023 200,000

7. STOCKS
31.10.24 31.10.23
£    £   
Stocks 39,512 44,238

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 475,198 274,417
Amounts owed by group undertakings 1,332 4,852
Other debtors 165,394 140,891
641,924 420,160

9. CURRENT ASSET INVESTMENTS
31.10.24 31.10.23
£    £   
Other 228,843 223,061

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 35,338 33,611
Trade creditors 239,720 157,647
Taxation and social security 22,559 72,796
Other creditors 106,586 125,861
404,203 389,915

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 14,375 49,713

Easy Networks Ltd (Registered number: 03129603)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 49,713 83,324

The hire purchase debt is secured against the asset concerned.