1 1 Netzen Solutions Limited 05618617 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is 62090 Digita Accounts Production Advanced 6.30.9574.0 true 05618617 2023-12-01 2024-11-30 05618617 2024-11-30 05618617 core:RetainedEarningsAccumulatedLosses 2024-11-30 05618617 core:RevaluationReserve 2024-11-30 05618617 core:ShareCapital 2024-11-30 05618617 core:CurrentFinancialInstruments 2024-11-30 05618617 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 05618617 core:OtherResidualIntangibleAssets 2024-11-30 05618617 core:AdditionsToInvestments 2024-11-30 05618617 core:CostValuation 2024-11-30 05618617 core:RevaluationsIncreaseDecreaseInInvestments 2024-11-30 05618617 core:OfficeEquipment 2024-11-30 05618617 bus:SmallEntities 2023-12-01 2024-11-30 05618617 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 05618617 bus:FullAccounts 2023-12-01 2024-11-30 05618617 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 05618617 bus:RegisteredOffice 2023-12-01 2024-11-30 05618617 bus:Director1 2023-12-01 2024-11-30 05618617 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 05618617 bus:Agent1 2023-12-01 2024-11-30 05618617 core:IntangibleAssetsOtherThanGoodwill 2023-12-01 2024-11-30 05618617 core:OtherResidualIntangibleAssets 2023-12-01 2024-11-30 05618617 core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 05618617 core:OfficeEquipment 2023-12-01 2024-11-30 05618617 countries:EnglandWales 2023-12-01 2024-11-30 05618617 2023-11-30 05618617 core:OtherResidualIntangibleAssets 2023-11-30 05618617 core:OfficeEquipment 2023-11-30 05618617 2022-12-01 2023-11-30 05618617 2023-11-30 05618617 core:RetainedEarningsAccumulatedLosses 2023-11-30 05618617 core:RevaluationReserve 2023-11-30 05618617 core:ShareCapital 2023-11-30 05618617 core:CurrentFinancialInstruments 2023-11-30 05618617 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 05618617 core:OfficeEquipment 2023-11-30 xbrli:pure iso4217:GBP

Registration number: 05618617

Netzen Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Netzen Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Netzen Solutions Limited

Company Information

Director

Mr Rob Phelps

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Netzen Solutions Limited

(Registration number: 05618617)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,280

1,709

Investments

6

56,311

-

 

58,591

1,709

Current assets

 

Stocks

7

200

200

Debtors

8

280,341

348,814

Cash at bank and in hand

 

283,162

244,180

 

563,703

593,194

Creditors: Amounts falling due within one year

9

(105,883)

(124,567)

Net current assets

 

457,820

468,627

Total assets less current liabilities

 

516,411

470,336

Provisions for liabilities

(1,578)

-

Net assets

 

514,833

470,336

Capital and reserves

 

Called up share capital

2,000

2,000

Revaluation reserve

4,733

-

Retained earnings

508,100

468,336

Shareholders' funds

 

514,833

470,336

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 10 June 2025
 

.........................................
Mr Rob Phelps
Director

   
     
 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 10 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.

Tax

The tax expense for the period comprises current 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.

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:

 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Office equipment

25% Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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

Intangible assets

25% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

15,000

15,000

Disposals

(15,000)

(15,000)

At 30 November 2024

-

-

Amortisation

At 1 December 2023

15,000

15,000

Amortisation eliminated on disposals

(15,000)

(15,000)

At 30 November 2024

-

-

Carrying amount

At 30 November 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

7,720

7,720

Additions

1,843

1,843

Disposals

(655)

(655)

At 30 November 2024

8,908

8,908

Depreciation

At 1 December 2023

6,011

6,011

Charge for the year

1,271

1,271

Eliminated on disposal

(654)

(654)

At 30 November 2024

6,628

6,628

Carrying amount

At 30 November 2024

2,280

2,280

At 30 November 2023

1,709

1,709

 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Investments

2024
£

2023
£

Investments in associates

56,311

-

Associates

£

Cost

Revaluation

6,311

Additions

50,000

At 30 November 2024

56,311

Provision

Carrying amount

At 30 November 2024

56,311

7

Stocks

2024
£

2023
£

Finished goods and goods for resale

200

200

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

173,061

237,763

Amounts owed by related parties

104,199

103,243

Prepayments

 

3,081

7,808

   

280,341

348,814

 

Netzen Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,265

4,667

Taxation and social security

81,577

105,236

Other creditors

22,041

14,664

105,883

124,567