Company registration number 12230065 (England and Wales)
NETZEROGROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NETZEROGROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NETZEROGROUP LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
301
301
Current assets
Debtors
5
56,418
48,719
Cash at bank and in hand
492
31
56,910
48,750
Creditors: amounts falling due within one year
6
(10,872)
(1,606)
Net current assets
46,038
47,144
Net assets
46,339
47,445
Capital and reserves
Called up share capital
7
300
300
Profit and loss reserves
46,039
47,145
Total equity
46,339
47,445

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 February 2025
Mr M S Hammond
Director
Company registration number 12230065 (England and Wales)
NETZEROGROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Netzerogroup Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Centurion House (2.04), 129 Deansgate, Manchester, M3 3WR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result, the director has continued to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

NETZEROGROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Financial instruments

The company has elected to apply 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 provisions 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

Basic financial assets, which include debtors and cash and bank balances, 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.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 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.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
NETZEROGROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
301
301
4
Subsidiaries

Details of the company's subsidiaries at 30 September 2024 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Ioffset Ltd
1
Ordinary
100.00
True Zero Ltd
1
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
Centurion House (2.04), 129 Deansagate, Manchester, Lancashire M3 3WR
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
32,551
Amounts owed by group undertakings
56,418
15,623
Other debtors
-
0
545
56,418
48,719
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
300
Other creditors
10,872
1,306
10,872
1,606

Included within other creditors are amounts due to the director of £9,873 (2024: £56).

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
270
270
270
270
Ordinary 'B' shares of £1 each
30
30
30
30
300
300
300
300
2024-09-302023-10-01falsefalsefalse10 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr M S Hammond122300652023-10-012024-09-30122300652024-09-30122300652023-09-3012230065core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3012230065core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3012230065core:CurrentFinancialInstruments2024-09-3012230065core:CurrentFinancialInstruments2023-09-3012230065core:ShareCapital2024-09-3012230065core:ShareCapital2023-09-3012230065core:RetainedEarningsAccumulatedLosses2024-09-3012230065core:RetainedEarningsAccumulatedLosses2023-09-3012230065core:ShareCapitalOrdinaryShares2024-09-3012230065core:ShareCapitalOrdinaryShares2023-09-3012230065bus:Director12023-10-012024-09-30122300652022-10-012023-09-3012230065core:WithinOneYear2024-09-3012230065core:WithinOneYear2023-09-3012230065bus:PrivateLimitedCompanyLtd2023-10-012024-09-3012230065bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3012230065bus:FRS1022023-10-012024-09-3012230065bus:AuditExemptWithAccountantsReport2023-10-012024-09-3012230065bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP