Acorah Software Products - Accounts Production 16.4.675 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09114084 Mr Seh-Kwe Tonye Tembunde iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09114084 2023-07-31 09114084 2024-07-31 09114084 2023-08-01 2024-07-31 09114084 frs-core:CurrentFinancialInstruments 2024-07-31 09114084 frs-core:Non-currentFinancialInstruments 2024-07-31 09114084 frs-core:FurnitureFittings 2024-07-31 09114084 frs-core:FurnitureFittings 2023-08-01 2024-07-31 09114084 frs-core:FurnitureFittings 2023-07-31 09114084 frs-core:ShareCapital 2024-07-31 09114084 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09114084 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09114084 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09114084 frs-bus:SmallEntities 2023-08-01 2024-07-31 09114084 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09114084 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09114084 frs-bus:Director1 2023-08-01 2024-07-31 09114084 frs-countries:EnglandWales 2023-08-01 2024-07-31 09114084 2022-07-31 09114084 2023-07-31 09114084 2022-08-01 2023-07-31 09114084 frs-core:CurrentFinancialInstruments 2023-07-31 09114084 frs-core:Non-currentFinancialInstruments 2023-07-31 09114084 frs-core:ShareCapital 2023-07-31 09114084 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 09114084
Network Guarantee Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 09114084
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,647 8,482
14,647 8,482
CURRENT ASSETS
Debtors 5 57,777 57,687
Cash at bank and in hand - 24,805
57,777 82,492
Creditors: Amounts Falling Due Within One Year 6 (60,146 ) (73,302 )
NET CURRENT ASSETS (LIABILITIES) (2,369 ) 9,190
TOTAL ASSETS LESS CURRENT LIABILITIES 12,278 17,672
Creditors: Amounts Falling Due After More Than One Year 7 (9,407 ) (17,578 )
NET ASSETS 2,871 94
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 2,870 93
SHAREHOLDERS' FUNDS 2,871 94
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Seh-Kwe Tonye Tembunde
Director
29/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Network Guarantee Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09114084 . The registered office is 54 South Park Road, Ilford, Essex, IG1 1SS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance basis
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2023 28,855
Additions 8,750
As at 31 July 2024 37,605
Depreciation
As at 1 August 2023 20,373
Provided during the period 2,585
As at 31 July 2024 22,958
Net Book Value
As at 31 July 2024 14,647
As at 1 August 2023 8,482
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 57,777 57,687
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 32,832 10,140
Corporation tax 6,486 17,589
VAT 18,428 39,093
Accruals and deferred income 2,400 6,480
60,146 73,302
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans > 1 year 9,407 17,578
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 20,000 67,500
10. Related Party Transactions
The related party transaction represents an amount owed by the director of £57,777 as at 2024 (2023: £57,687). Interest has been charged at a rate of 3.5%.
Page 3