Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr D I Akin 10/07/2020 Mr M J Blood 28/02/2020 Mr M J Carr 16/06/2020 Mr T C Fordyce 01/09/2020 MR S T Jones 16/06/2020 Mr M Perls MBE 16/06/2020 17 April 2025 The principal activity of the company during the year was the development, production, and distribution of IP-owned and branded audio content, primarily in the form of podcasts. 12490027 2024-08-31 12490027 bus:Director1 2024-08-31 12490027 bus:Director2 2024-08-31 12490027 bus:Director3 2024-08-31 12490027 bus:Director4 2024-08-31 12490027 bus:Director5 2024-08-31 12490027 bus:Director6 2024-08-31 12490027 2023-08-31 12490027 core:CurrentFinancialInstruments 2024-08-31 12490027 core:CurrentFinancialInstruments 2023-08-31 12490027 core:Non-currentFinancialInstruments 2024-08-31 12490027 core:Non-currentFinancialInstruments 2023-08-31 12490027 core:ShareCapital 2024-08-31 12490027 core:ShareCapital 2023-08-31 12490027 core:SharePremium 2024-08-31 12490027 core:SharePremium 2023-08-31 12490027 core:RetainedEarningsAccumulatedLosses 2024-08-31 12490027 core:RetainedEarningsAccumulatedLosses 2023-08-31 12490027 core:OtherPropertyPlantEquipment 2023-08-31 12490027 core:OtherPropertyPlantEquipment 2024-08-31 12490027 bus:OrdinaryShareClass1 2024-08-31 12490027 2023-09-01 2024-08-31 12490027 bus:FilletedAccounts 2023-09-01 2024-08-31 12490027 bus:SmallEntities 2023-09-01 2024-08-31 12490027 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12490027 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12490027 bus:Director1 2023-09-01 2024-08-31 12490027 bus:Director2 2023-09-01 2024-08-31 12490027 bus:Director3 2023-09-01 2024-08-31 12490027 bus:Director4 2023-09-01 2024-08-31 12490027 bus:Director5 2023-09-01 2024-08-31 12490027 bus:Director6 2023-09-01 2024-08-31 12490027 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-09-01 2024-08-31 12490027 2022-09-01 2023-08-31 12490027 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 12490027 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 12490027 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12490027 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12490027 (England and Wales)

CROWD NETWORK LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

CROWD NETWORK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

CROWD NETWORK LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
CROWD NETWORK LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
DIRECTORS Mr D I Akin
Mr M J Blood
Mr M J Carr
Mr T C Fordyce
MR S T Jones
Mr M Perls MBE
REGISTERED OFFICE The Boardwalk Floor 3
21 Little Peter Street
Manchester
M15 4PS
United Kingdom
COMPANY NUMBER 12490027 (England and Wales)
ACCOUNTANT MHA
Richard House
9 Winckley Square
Preston
Lancashire
PR1 3HP
CROWD NETWORK LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
CROWD NETWORK LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 17,547 24,864
17,547 24,864
Current assets
Debtors 4 482,788 455,751
Cash at bank and in hand 213,525 351,488
696,313 807,239
Creditors: amounts falling due within one year 5 ( 518,527) ( 495,854)
Net current assets 177,786 311,385
Total assets less current liabilities 195,333 336,249
Creditors: amounts falling due after more than one year 6 ( 1,065,000) ( 833,333)
Net liabilities ( 869,667) ( 497,084)
Capital and reserves
Called-up share capital 7 12 12
Share premium account 1,859,989 1,859,989
Profit and loss account ( 2,729,668 ) ( 2,357,085 )
Total shareholders' deficit ( 869,667) ( 497,084)

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Crowd Network Limited (registered number: 12490027) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

Mr M J Carr
Director
CROWD NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
CROWD NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Crowd Network Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Boardwalk Floor 3, 21 Little Peter Street, Manchester, M15 4PS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements.

The Company has negative shareholder equity due to a long-term loan, which has been refinanced to begin repayments from January 2026. The Company has been profitable since June 2024, and the 24-25 budget is profit-generating. At time of writing, the Company is materially favourable to this budget with regards to both revenue and net profit. The Company is actively securing more equity investment in order to sustainably grow this successful model, and it expects to return to positive shareholder equity within the next 2 years.

The Company has positive net current assets of £177,786, and operates a strict cashflow monitoring and forecasting process. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in
the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

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

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 20

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 39,415 39,415
Additions 708 708
At 31 August 2024 40,123 40,123
Accumulated depreciation
At 01 September 2023 14,551 14,551
Charge for the financial year 8,025 8,025
At 31 August 2024 22,576 22,576
Net book value
At 31 August 2024 17,547 17,547
At 31 August 2023 24,864 24,864

4. Debtors

2024 2023
£ £
Trade debtors 139,998 132,995
Other debtors 342,790 322,756
482,788 455,751

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 128,121 40,166
Other taxation and social security 32,624 39,224
Other creditors 357,782 416,464
518,527 495,854

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 1,065,000 833,333

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,217 Ordinary shares of £ 0.01 each 12 12