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REGISTERED NUMBER: 02644536 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Netacost Ltd

Netacost Ltd (Registered number: 02644536)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Netacost Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr N Assar





REGISTERED OFFICE: c/o Ency Associates
Printware Court, Cumberland Business Ctr
Northumberland Road
Portsmouth
Hampshire
PO5 1DS





REGISTERED NUMBER: 02644536 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

Netacost Ltd (Registered number: 02644536)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 157,386 160,814

CURRENT ASSETS
Debtors 5 35,641 37,144
Cash at bank 274 1,290
35,915 38,434
CREDITORS
Amounts falling due within one year 6 27,402 23,047
NET CURRENT ASSETS 8,513 15,387
TOTAL ASSETS LESS CURRENT LIABILITIES 165,899 176,201

CREDITORS
Amounts falling due after more than one
year

7

-

4,167
NET ASSETS 165,899 172,034

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 165,699 171,834
SHAREHOLDERS' FUNDS 165,899 172,034

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Netacost Ltd (Registered number: 02644536)

Balance Sheet - continued
30 September 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 director and authorised for issue on 27 May 2025 and were signed by:





Mr N Assar - Director


Netacost Ltd (Registered number: 02644536)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Netacost Ltd 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.

Turnover
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.
Freehold property - 2% on cost
Fixtures & fittings - 25% on cost
Motor vehicles - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

Netacost Ltd (Registered number: 02644536)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Freehold Fixtures Motor
property & fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 171,048 4,324 9,300 184,672
DEPRECIATION
At 1 October 2023 10,263 4,324 9,271 23,858
Charge for year 3,421 - 7 3,428
At 30 September 2024 13,684 4,324 9,278 27,286
NET BOOK VALUE
At 30 September 2024 157,364 - 22 157,386
At 30 September 2023 160,785 - 29 160,814

5. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Other debtors 1,706 1,609

Amounts falling due after more than one year:
Other debtors 33,935 35,535

Aggregate amounts 35,641 37,144

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 2,500
Trade creditors - 44
Taxation and social security 71 1,862
Other creditors 27,331 18,641
27,402 23,047

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 4,167

Netacost Ltd (Registered number: 02644536)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. RELATED PARTY DISCLOSURES

During the year the freehold property was rented to the director's son for no consideration.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N Assar.