IRIS Accounts Production v24.3.2.46 02726872 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027268722023-06-30027268722024-06-30027268722023-07-012024-06-30027268722022-06-30027268722022-07-012023-06-30027268722023-06-3002726872ns15:EnglandWales2023-07-012024-06-3002726872ns14:PoundSterling2023-07-012024-06-3002726872ns10:Director12023-07-012024-06-3002726872ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002726872ns10:SmallEntities2023-07-012024-06-3002726872ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002726872ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002726872ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002726872ns10:AbridgedAccounts2023-07-012024-06-300272687212023-07-012024-06-3002726872ns10:Director22023-07-012024-06-3002726872ns10:CompanySecretary12023-07-012024-06-3002726872ns10:RegisteredOffice2023-07-012024-06-3002726872ns5:CurrentFinancialInstruments2024-06-3002726872ns5:CurrentFinancialInstruments2023-06-3002726872ns5:ShareCapital2024-06-3002726872ns5:ShareCapital2023-06-3002726872ns5:RetainedEarningsAccumulatedLosses2024-06-3002726872ns5:RetainedEarningsAccumulatedLosses2023-06-3002726872ns5:NetGoodwill2023-07-012024-06-3002726872ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3002726872ns5:LandBuildings2023-07-012024-06-3002726872ns5:PlantMachinery2023-07-012024-06-3002726872ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-06-3002726872ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-06-30027268721ns10:Director12023-06-30027268721ns10:Director12022-06-30027268721ns10:Director12023-07-012024-06-30027268721ns10:Director12022-07-012023-06-30027268721ns10:Director12024-06-30027268721ns10:Director12023-06-30
REGISTERED NUMBER: 02726872 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

NETWORK CONNECT LIMITED

NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NETWORK CONNECT LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: M Maden
R A Heys





SECRETARY: Mrs C Maden





REGISTERED OFFICE: Egret Mill
162 Old Street
Ashton-under-Lyne
Lancashire
OL6 7ST





REGISTERED NUMBER: 02726872 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Booth Street Chambers
Booth Street
Ashton-under-Lyne
Lancashire
OL6 7LQ

NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)

ABRIDGED BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 663,883 659,568
Investments 6 1,164,781 1,043,629
1,828,664 1,703,197

CURRENT ASSETS
Debtors 7 633,971 867,483
Cash at bank 1,282,470 520,200
1,916,441 1,387,683
CREDITORS
Amounts falling due within one year 709,681 758,425
NET CURRENT ASSETS 1,206,760 629,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,035,424

2,332,455

PROVISIONS FOR LIABILITIES 13,418 -
NET ASSETS 3,022,006 2,332,455

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 3,017,006 2,327,455
3,022,006 2,332,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)

ABRIDGED BALANCE SHEET - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 March 2025 and were signed on its behalf by:





M Maden - Director


NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Network Connect 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 210,000
AMORTISATION
At 1 July 2023
and 30 June 2024 210,000
NET BOOK VALUE

At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 809,675
Additions 13,860
At 30 June 2024 823,535
DEPRECIATION
At 1 July 2023 150,107
Charge for year 9,545
At 30 June 2024 159,652
NET BOOK VALUE
At 30 June 2024 663,883
At 30 June 2023 659,568

NETWORK CONNECT LIMITED (REGISTERED NUMBER: 02726872)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 July 2023 1,043,629
Revaluations 121,152
At 30 June 2024 1,164,781
NET BOOK VALUE
At 30 June 2024 1,164,781
At 30 June 2023 1,043,629

Cost or valuation at 30 June 2024 is represented by:
Totals
£   
Valuation in 2024 1,164,781

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 225,000 225,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
M Maden
Balance outstanding at start of year 127,728 -
Amounts advanced - 127,728
Amounts repaid (127,728 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 127,728

Interest is charged at the official rate of interest on this loan. The loan was repaid in January 2024.