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REGISTERED NUMBER: 05218805 (England and Wales)












FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

N2 LIMITED

N2 LIMITED (REGISTERED NUMBER: 05218805)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


N2 LIMITED (REGISTERED NUMBER: 05218805)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,294 3,374

CURRENT ASSETS
Debtors 5 46,108 158,923
Cash at bank 320,481 251,583
366,589 410,506
CREDITORS
Amounts falling due within one year 6 70,294 92,031
NET CURRENT ASSETS 296,295 318,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

301,589

321,849


PROVISIONS FOR LIABILITIES 1,324 -

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 300,165 321,749
SHAREHOLDER FUNDS 300,265 321,849
301,589 321,849

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

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

N2 LIMITED (REGISTERED NUMBER: 05218805)

BALANCE SHEET - continued
30TH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2nd June 2025 and were signed by:





T B Nall - Director


N2 LIMITED (REGISTERED NUMBER: 05218805)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

N2 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05218805

Registered office: 57 Cleveland Road
North Shields
Newcastle
NE29 0NW

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.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 3 (2023 - 3 ) .

N2 LIMITED (REGISTERED NUMBER: 05218805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st October 2023 5,879 20,522 26,401
Additions - 5,860 5,860
At 30th September 2024 5,879 26,382 32,261
DEPRECIATION
At 1st October 2023 5,547 17,480 23,027
Charge for year 167 3,773 3,940
At 30th September 2024 5,714 21,253 26,967
NET BOOK VALUE
At 30th September 2024 165 5,129 5,294
At 30th September 2023 332 3,042 3,374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,010 147,699
Other debtors - 11,126
Called up share capital not paid 98 98
46,108 158,923

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,502 23,505
Corporation tax 16,542 26,276
Social security and other taxes 1,615 17,998
Directors' current accounts 1,000 1,421
Accruals and deferred income 25,635 22,831
70,294 92,031

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 A Ordinary shares £1 51 51
39 B Ordinary shares £1 39 39
10 C Ordinary shares £1 10 10
100 100

N2 LIMITED (REGISTERED NUMBER: 05218805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. CALLED UP SHARE CAPITAL - continued

The issues share capital of the Company was reclassified.
The reclassification took place on 30 July 2018 and now comprises:
51 "A" Ordinary shares of £1 each.
39 "B" Ordinary shares of £1 each.
10 "C" Ordinary shares.of £1 each.
In each case the shares carry the rights and obligations set out in the new articles of association of the Company as adopted by special resolution on 30 July 2018.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There is a small amount included in creditors due within one year, which relates to Mr T Nall of £1,000 (2023 £1,421).

9. ULTIMATE CONTROLLING PARTY

The controlling party is T B Nall.