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Registration number: 14638003

UK Networks Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

UK Networks Services Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Notes to the Unaudited Financial Statements

8 to 14

 

UK Networks Services Ltd

Company Information

Directors

Simon Christie Gallagher

Chloe Louise Gallagher

Registered office

Unit 5G, Church End
Little Hadham
Herts
SG11 2DY

Accountants

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop Stortford
Hertfordshire
CM23 3AR

 

UK Networks Services Ltd

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors of the company

The directors who held office during the year were as follows:

Simon Christie Gallagher

Chloe Louise Gallagher (appointed 1 February 2025)

Principal activity

The principal activity of the company is engineering related scientific and technical consulting activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 13 June 2025 and signed on its behalf by:

.........................................
Simon Christie Gallagher
Director

   
     
 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
UK Networks Services Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UK Networks Services Ltd for the year ended 31 March 2025 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of UK Networks Services Ltd, as a body, in accordance with the terms of our engagement letter dated 13 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of UK Networks Services Ltd and state those matters that we have agreed to state to the Board of Directors of UK Networks Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Networks Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that UK Networks Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of UK Networks Services Ltd. You consider that UK Networks Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of UK Networks Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop Stortford
Hertfordshire
CM23 3AR

13 June 2025

 

UK Networks Services Ltd

Profit and Loss Account for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

 

1,334,469

329,421

Cost of sales

 

(513,326)

(64,436)

Gross profit

 

821,143

264,985

Administrative expenses

 

(528,391)

(78,057)

Other operating income

 

33,617

-

Operating profit

 

326,369

186,928

Other interest receivable and similar income

 

4,189

-

Profit before tax

4

330,558

186,928

Tax on profit

 

(87,250)

(39,281)

Profit for the financial year

 

243,308

147,647

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

UK Networks Services Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2025

2025
£

2024
£

Profit for the year

243,308

147,647

Total comprehensive income for the year

243,308

147,647

 

UK Networks Services Ltd

(Registration number: 14638003)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

5

40,948

9,341

Tangible assets

6

40,729

9,104

 

81,677

18,445

Current assets

 

Stocks

7

65,503

-

Debtors

8

310,707

67,517

Cash at bank and in hand

 

412,484

181,390

 

788,694

248,907

Creditors: Amounts falling due within one year

9

(458,895)

(119,605)

Net current assets

 

329,799

129,302

Total assets less current liabilities

 

411,476

147,747

Creditors: Amounts falling due after more than one year

9

(216,400)

-

Provisions for liabilities

(20,419)

-

Net assets

 

174,657

147,747

Capital and reserves

 

Called up share capital

10

102

100

Retained earnings

174,555

147,647

Shareholders' funds

 

174,657

147,747

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

 

UK Networks Services Ltd

(Registration number: 14638003)
Balance Sheet as at 31 March 2025

.........................................
Simon Christie Gallagher
Director

   
     
 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5G, Church End
Little Hadham
Herts
SG11 2DY
England

These financial statements were authorised for issue by the Board on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

3 years straight line

Plant & machinery

3 years straingt line

Fixtures and fittings

3 years straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2024 - 2).

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

12,962

1,426

Amortisation expense

2,530

492

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 April 2024

9,833

9,833

Additions acquired separately

34,137

34,137

At 31 March 2025

43,970

43,970

Amortisation

At 1 April 2024

492

492

Amortisation charge

2,530

2,530

At 31 March 2025

3,022

3,022

Carrying amount

At 31 March 2025

40,948

40,948

At 31 March 2024

9,341

9,341

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

475

5,607

4,448

-

Additions

6,540

2,323

22,676

13,750

Disposals

(475)

(192)

(199)

-

At 31 March 2025

6,540

7,738

26,925

13,750

Depreciation

At 1 April 2024

79

210

1,137

-

Charge for the year

1,225

2,110

6,476

3,151

Eliminated on disposal

(79)

(19)

(66)

-

At 31 March 2025

1,225

2,301

7,547

3,151

Carrying amount

At 31 March 2025

5,315

5,437

19,378

10,599

At 31 March 2024

396

5,397

3,311

-

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Total
£

Cost or valuation

At 1 April 2024

10,530

Additions

45,289

Disposals

(866)

At 31 March 2025

54,953

Depreciation

At 1 April 2024

1,426

Charge for the year

12,962

Eliminated on disposal

(164)

At 31 March 2025

14,224

Carrying amount

At 31 March 2025

40,729

At 31 March 2024

9,104

 

UK Networks Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Stocks

2025
£

2024
£

Other inventories

65,503

-

8

Debtors

Current

2025
£

2024
£

Trade debtors

269,091

43,568

Prepayments

26,741

13,949

Other debtors

14,875

10,000

 

310,707

67,517

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

18,394

4,666

Taxation and social security

149,088

52,895

Accruals and deferred income

223,215

16,063

Other creditors

68,198

45,981

458,895

119,605

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

Other non-current financial liabilities

216,400

-

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary of £1 (2024 - £0) each

1

1

-

-

Ordinary of £1 (2024 - £0) each

1

1

-

-

102

102

100

100