117 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2 1 3 3 2 xbrli:pure xbrli:shares iso4217:GBP 06742078 2024-01-01 2024-12-31 06742078 2024-12-31 06742078 2023-12-31 06742078 2023-01-01 2023-12-31 06742078 2023-12-31 06742078 2022-12-31 06742078 core:PlantMachinery 2024-01-01 2024-12-31 06742078 bus:Director1 2024-01-01 2024-12-31 06742078 core:PlantMachinery 2023-12-31 06742078 core:PlantMachinery 2024-12-31 06742078 core:WithinOneYear 2024-12-31 06742078 core:WithinOneYear 2023-12-31 06742078 core:AfterOneYear 2024-12-31 06742078 core:ShareCapital 2024-12-31 06742078 core:ShareCapital 2023-12-31 06742078 core:SharePremium 2024-12-31 06742078 core:SharePremium 2023-12-31 06742078 core:CapitalRedemptionReserve 2024-12-31 06742078 core:CapitalRedemptionReserve 2023-12-31 06742078 core:RetainedEarningsAccumulatedLosses 2024-12-31 06742078 core:RetainedEarningsAccumulatedLosses 2023-12-31 06742078 core:BetweenOneFiveYears 2024-12-31 06742078 core:BetweenOneFiveYears 2023-12-31 06742078 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06742078 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-12-31 06742078 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 06742078 core:Non-currentFinancialInstruments 2024-12-31 06742078 core:Non-currentFinancialInstruments 2023-12-31 06742078 core:PlantMachinery 2023-12-31 06742078 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-12-31 06742078 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-12-31 06742078 bus:SmallEntities 2024-01-01 2024-12-31 06742078 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 06742078 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06742078 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06742078 bus:FullAccounts 2024-01-01 2024-12-31 06742078 core:LeaseholdImprovements 2024-01-01 2024-12-31 06742078 core:FurnitureFittingsToolsEquipment 2023-12-31 06742078 core:LeaseholdImprovements 2023-12-31 06742078 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 06742078 core:FurnitureFittingsToolsEquipment 2024-12-31 06742078 core:LeaseholdImprovements 2024-12-31
COMPANY REGISTRATION NUMBER: 06742078
Netmatters Limited
Unaudited financial statements
31 December 2024
Netmatters Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
258,479
265,038
Investments
6
3
2
---------
---------
258,482
265,040
Current assets
Stocks
56,731
66,560
Debtors
7
527,637
789,798
Cash at bank and in hand
1,237,352
1,489,515
-----------
-----------
1,821,720
2,345,873
Creditors: Amounts falling due within one year
8
( 509,640)
( 1,186,769)
-----------
-----------
Net current assets
1,312,080
1,159,104
-----------
-----------
Total assets less current liabilities
1,570,562
1,424,144
Creditors: Amounts falling due after more than one year
9
( 24,808)
Provisions
Taxation including deferred tax
( 40,908)
( 41,150)
-----------
-----------
Net assets
1,504,846
1,382,994
-----------
-----------
Capital and reserves
Called up share capital
1,195
1,195
Share premium account
89,800
89,800
Capital redemption reserve
25
25
Profit and loss account
1,413,826
1,291,974
-----------
-----------
Shareholders funds
1,504,846
1,382,994
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Netmatters Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
C T Gulliver
Director
Company registration number: 06742078
Netmatters Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Penfold Drive, Wymondham, Norfolk, NR18 0WZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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
Fixtures, fittings and equipment
-
33% straight line & 15% reducing balance
Leasehold property improvements
-
2% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 117 (2023: 113 ).
5. Tangible assets
Plant & machinery
Fixtures, fittings and equipment
L'hold property imp's
Total
£
£
£
£
Cost
At 1 January 2024
36,690
327,418
95,138
459,246
Additions
40,011
61,655
3,309
104,975
Disposals
( 36,690)
( 67,274)
( 103,964)
-------
---------
-------
---------
At 31 December 2024
40,011
321,799
98,447
460,257
-------
---------
-------
---------
Depreciation
At 1 January 2024
20,982
167,640
5,586
194,208
Charge for the year
4,168
79,733
1,959
85,860
Disposals
( 20,982)
( 57,308)
( 78,290)
-------
---------
-------
---------
At 31 December 2024
4,168
190,065
7,545
201,778
-------
---------
-------
---------
Carrying amount
At 31 December 2024
35,843
131,734
90,902
258,479
-------
---------
-------
---------
At 31 December 2023
15,708
159,778
89,552
265,038
-------
---------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant & machinery
£
At 31 December 2024
35,843
-------
At 31 December 2023
14,785
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
2
Additions
1
----
At 31 December 2024
3
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
3
----
At 31 December 2023
2
----
7. Debtors
2024
2023
£
£
Trade debtors
405,490
685,123
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,868
Other debtors
122,147
102,807
---------
---------
527,637
789,798
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
257
Trade creditors
96,109
150,444
Social security and other taxes
353,160
973,511
Other creditors
60,114
62,814
---------
-----------
509,640
1,186,769
---------
-----------
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
24,808
-------
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
72,496
46,006
Later than 1 year and not later than 5 years
45,379
29,618
---------
-------
117,875
75,624
---------
-------
11. Directors' advances, credits and guarantees
Included within other debtors at the year end are interest free directors' loan accounts totalling £648 (2023: £648). The maximum total overdrawn balance during the year was £648.