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REGISTERED NUMBER: 14854597 (England and Wales)


















NET FACILITIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

8 MAY 2023 TO 31 MAY 2024






NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 MAY 2023 TO 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NET FACILITIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 8 MAY 2023 TO 31 MAY 2024







DIRECTORS: K L D Maher Esq
J L Williams Esq
Diversity Network Holdings Ltd





REGISTERED OFFICE: Holyhead Road
BANGOR
Wales
LL57 2HQ





REGISTERED NUMBER: 14854597 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 91,465

CURRENT ASSETS
Debtors 5 91,328
Cash at bank and in hand 59,259
150,587
CREDITORS
Amounts falling due within one year 6 50,749
NET CURRENT ASSETS 99,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,303

CREDITORS
Amounts falling due after more than one year 7 (156,944 )

PROVISIONS FOR LIABILITIES 8 (8,910 )
NET ASSETS 25,449

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings 25,349
SHAREHOLDERS' FUNDS 25,449

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

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

NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:




K L D Maher Esq - Director



J L Williams Esq - Director


NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 MAY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

NET Facilities Limited 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments
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.

Trade and other debtors
Trade and other debtors are initially recognised at their transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 8 MAY 2023 TO 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Trade and other creditors
Trade and other creditors are initially recognised at their transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
Additions 5,704 5,142 109,662 120,508
At 31 May 2024 5,704 5,142 109,662 120,508
DEPRECIATION
Charge for period 856 771 27,416 29,043
At 31 May 2024 856 771 27,416 29,043
NET BOOK VALUE
At 31 May 2024 4,848 4,371 82,246 91,465

5. DEBTORS
£   
Amounts falling due within one year:
Trade debtors 7,650
Other debtors 15,075
22,725

Amounts falling due after more than one year:
Amounts owed by related parties 68,603

Aggregate amounts 91,328

NET FACILITIES LIMITED (REGISTERED NUMBER: 14854597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 8 MAY 2023 TO 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 27,041
Social security and other taxes 11,706
Accruals 12,002
50,749

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Directors' loan accounts 156,944

8. PROVISIONS FOR LIABILITIES
£   
Deferred tax 8,910

Deferred
tax
£   
Accelerated capital allowances 8,910
Balance at 31 May 2024 8,910

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.