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Company No: 06868075 (England and Wales)

EX NETWORKS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

EX NETWORKS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

EX NETWORKS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
EX NETWORKS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS Stephanie Laura Dil
Volkan Sabri Ahmet Dil
SECRETARY Stephanie Laura Dil
REGISTERED OFFICE Fuel Tank - A107 8-12 Creekside
London
SE8 3LE
United Kingdom
COMPANY NUMBER 06868075 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
EX NETWORKS LIMITED

BALANCE SHEET

As at 30 September 2024
EX NETWORKS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 314,136 280,397
Investments 5 87,849 46,112
401,985 326,509
Current assets
Debtors 6 357,370 173,393
Cash at bank and in hand 7 760,825 785,120
1,118,195 958,513
Creditors: amounts falling due within one year 8 ( 426,099) ( 386,868)
Net current assets 692,096 571,645
Total assets less current liabilities 1,094,081 898,154
Creditors: amounts falling due after more than one year 9 ( 16,034) 0
Provision for liabilities 10, 11 ( 78,533) ( 61,715)
Net assets 999,514 836,439
Capital and reserves
Called-up share capital 12 1,000 1,000
Capital redemption reserve 100 100
Profit and loss account 998,414 835,339
Total shareholders' funds 999,514 836,439

For the financial year ending 30 September 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 Ex Networks Limited (registered number: 06868075) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Volkan Sabri Ahmet Dil
Director
EX NETWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
EX NETWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Ex Networks 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 Fuel Tank - A107 8-12 Creekside, London, SE8 3LE, 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 £.

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 Statement of Income and Retained Earnings 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 goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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:

Vehicles 8 years straight line
Fixtures and fittings 3 - 6 years straight line
Computer equipment 3 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2023 5,000 5,000
At 30 September 2024 5,000 5,000
Accumulated amortisation
At 01 October 2023 5,000 5,000
At 30 September 2024 5,000 5,000
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 October 2023 67,681 13,302 753,308 834,291
Additions 55,380 1,812 69,928 127,120
Disposals ( 28,607) 0 0 ( 28,607)
At 30 September 2024 94,454 15,114 823,236 932,804
Accumulated depreciation
At 01 October 2023 30,068 9,740 514,086 553,894
Charge for the financial year 10,133 1,936 69,094 81,163
Disposals ( 16,389) 0 0 ( 16,389)
At 30 September 2024 23,812 11,676 583,180 618,668
Net book value
At 30 September 2024 70,642 3,438 240,056 314,136
At 30 September 2023 37,613 3,562 239,222 280,397

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 46,112 46,112
Movement in fair value 41,737 41,737
At 30 September 2024 87,849 87,849
Carrying value at 30 September 2024 87,849 87,849
Carrying value at 30 September 2023 46,112 46,112

Other investments comprise listed investments at fair value and other investments at cost less impairment.

6. Debtors

2024 2023
£ £
Trade debtors 320,840 155,352
Other debtors 36,530 18,041
357,370 173,393

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 760,825 785,120

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 276,296 263,870
Taxation and social security 127,991 113,779
Obligations under finance leases and hire purchase contracts 10,127 0
Other creditors 11,685 9,219
426,099 386,868

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 16,034 0

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

10. Provision for liabilities

2024 2023
£ £
Deferred tax 78,533 61,715
Deferred taxation Total
£ £
At 01 October 2023 61,715 61,715
Charged to the Statement of Income and Retained Earnings 16,818 16,818
At 30 September 2024 78,533 78,533

Deferred tax

2024 2023
£ £
Accelerated capital allowances 78,533 61,715
Provision for deferred tax 78,533 61,715

11. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 61,715) ( 63,712)
(Charged)/credited to the Statement of Income and Retained Earnings ( 16,818) 1,997
At the end of financial year ( 78,533) ( 61,715)

12. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000