Company No:
Contents
| 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 |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 17,547 | 24,864 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 696,313 | 807,239 | |||
| Creditors: amounts falling due within one year | 5 | (
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| 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 | (
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Share premium account |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Crowd Network Limited (registered number:
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Mr M J Carr
Director |
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.
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 £.
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.
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.
the normal course of business, and is shown net of VAT and other sales related taxes.
| Plant and machinery etc. |
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| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 September 2023 |
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| Additions |
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| At 31 August 2024 |
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| Accumulated depreciation | |||
| At 01 September 2023 |
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| Charge for the financial year |
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| At 31 August 2024 |
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| Net book value | |||
| At 31 August 2024 |
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| At 31 August 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Other taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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