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Registration number: 08735583

Netistrar Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Netistrar Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Netistrar Limited

Company Information

Directors

Mr Andrew Graham Bennett

Mrs Emily Elizabeth Gemma Taylor

Mr Lucien Jean Patrice Taylor

Mr Mark Jonathan Robertshaw

Registered office

23A West Street
Swadlincote
Derbyshire
DE11 9DG

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Netistrar Limited

(Registration number: 08735583)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

8,892

11,116

Current assets

 

Debtors

5

44,569

19,141

Cash at bank and in hand

 

34,476

39,559

 

79,045

58,700

Creditors: Amounts falling due within one year

6

(72,741)

(59,511)

Net current assets/(liabilities)

 

6,304

(811)

Total assets less current liabilities

 

15,196

10,305

Creditors: Amounts falling due after more than one year

6

(97,630)

(97,630)

Net liabilities

 

(82,434)

(87,325)

Capital and reserves

 

Called up share capital

1,025

1,025

Share premium reserve

24,950

24,950

Retained earnings

(108,409)

(113,300)

Shareholders' deficit

 

(82,434)

(87,325)

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

 

Netistrar Limited

(Registration number: 08735583)
Balance Sheet as at 30 June 2024

.........................................
Mrs Emily Elizabeth Gemma Taylor
Director

 

Netistrar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
23A West Street
Swadlincote
Derbyshire
DE11 9DG
United Kingdom

These financial statements were authorised for issue by the Board on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properites under construction over their esitamted useful lives, as follows:

 

Netistrar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Internally generated software development costs

20% Reducing balance

Development costs

Research and development expenditure is written off as incurred, except that development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected sales from the related project.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Netistrar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 July 2023

33,923

33,923

At 30 June 2024

33,923

33,923

Amortisation

At 1 July 2023

22,807

22,807

Amortisation charge

2,224

2,224

At 30 June 2024

25,031

25,031

Carrying amount

At 30 June 2024

8,892

8,892

At 30 June 2023

11,116

11,116

5

Debtors

Current

2024
£

2023
£

Trade debtors

44,473

6,917

Other debtors

96

12,224

 

44,569

19,141

 

Netistrar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

18,187

8,932

Amounts owed to group undertakings and undertakings in which the company has a participating interest

38,792

38,792

Taxation and social security

 

14,817

9,897

Accruals and deferred income

 

945

1,890

 

72,741

59,511

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

97,630

97,630

Included within other debtors is the following loan: the loan is unsecured, interest free and repayable on demand.