IP NETWORKS (EUROPE) LIMITED

Company Registration Number:
06258960 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

IP NETWORKS (EUROPE) LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

IP NETWORKS (EUROPE) LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 11,739 15,653
Total fixed assets: 11,739 15,653
Current assets
Stocks: 5,310 2,612
Debtors:   188,923 250,789
Cash at bank and in hand: 79,944 37,020
Total current assets: 274,177 290,421
Creditors: amounts falling due within one year:   (53,767) (91,471)
Net current assets (liabilities): 220,410 198,950
Total assets less current liabilities: 232,149 214,603
Total net assets (liabilities): 232,149 214,603
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 232,049 214,503
Shareholders funds: 232,149 214,603

The notes form part of these financial statements

IP NETWORKS (EUROPE) LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 November 2024
and signed on behalf of the board by:

Name: James Lyons
Status: Director

The notes form part of these financial statements

IP NETWORKS (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery - 25% reducing balance Fittings, fixtures and equipment - 25% reducing balance Motor vehicles - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

IP NETWORKS (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 2 3

IP NETWORKS (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 53,834
At 31 May 2024 53,834
Depreciation
At 01 June 2023 38,181
Charge for year 3,914
At 31 May 2024 42,095
Net book value
At 31 May 2024 11,739
At 31 May 2023 15,653