Unaudited Financial Statements

for the Year Ended 31 December 2024

for

The Network Collective Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J J Waterhouse

SECRETARY:

Mrs E Waterhouse

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

05496903 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Intangible assets

4

4,987

-

Tangible assets

5

17,877

27,845

22,864

27,845

CURRENT ASSETS

Stocks

55,717

94,592

Debtors

6

708,034

661,200

Cash at bank and in hand

628,536

586,606

1,392,287

1,342,398

CREDITORS

Amounts falling due within one year

7

1,054,026

821,139

NET CURRENT ASSETS

338,261

521,259

TOTAL ASSETS LESS CURRENT LIABILITIES

361,125

549,104

CREDITORS

Amounts falling due after more than one year

8

(4,409

)

(14,806

)

PROVISIONS FOR LIABILITIES

10

(7,640

)

(7,025

)

NET ASSETS

349,076

527,273

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

348,976

527,173

SHAREHOLDERS' FUNDS

349,076

527,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 20 August 2025 and were signed by:

J J Waterhouse - Director

1.	STATUTORY INFORMATION

The Network Collective Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 which is stated net of value added tax, represents procurement fees for services provided charged in accordance with client contracts. Fees are recognised on an accruals basis, and at project milestone agreements.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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

-

25% on cost

Motor vehicles

-

Straight line over 3 years

Computer equipment

-

Straight line over 3 years

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Work in progress is in relation to work carried out on contracts before revenue is able to be recognised.

Financial instruments

Financial assets:

Basic financial instruments, including trade and other debtors, cash and bank balances are initially recognised at the transaction price.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets are reviewed for evidence of impairment, with any impairment losses recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities:

Basic financial liabilities, including trade and other creditors, and loans are initially recognised at the transaction price and for those not classed as financing transactions, are subsequently measured at amortised cost, being the transaction price less any amounts settled.

Trade creditors are classified as current liabilities where they are due within one year. If they are not, they are classified as non-current liabilities.

Where an arrangement constitutes a financing arrangement, the creditor is initially measured at the present value of future payments discounted at a market rate of interest for a similar instrument, and subsequently measured at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 25 (2023 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

5,249

At 31 December 2024

5,249

AMORTISATION

Charge for year

262

At 31 December 2024

262

NET BOOK VALUE

At 31 December 2024

4,987

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

2,350

15,832

30,400

89,268

137,850

Additions

-

362

-

7,188

7,550

At 31 December 2024

2,350

16,194

30,400

96,456

145,400

DEPRECIATION

At 1 January 2024

587

14,205

30,400

64,813

110,005

Charge for year

587

901

-

16,030

17,518

At 31 December 2024

1,174

15,106

30,400

80,843

127,523

NET BOOK VALUE

At 31 December 2024

1,176

1,088

-

15,613

17,877

At 31 December 2023

1,763

1,627

-

24,455

27,845

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

504,836

442,206

Other debtors

8,166

4,728

Prepayments and accrued income

27,124

214,266

Prepayments

167,908

-

708,034

661,200

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

10,397

10,141

Trade creditors

2,072

34,588

Tax

104,720

151,651

Social security and other taxes

117,912

115,666

VAT

205,020

157,294

Other creditors

5,663

5,617

Directors' current accounts

244

244

Deferred income

140,874

165,517

Accrued expenses

467,124

180,421

1,054,026

821,139

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

4,409

14,806

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

10,397

10,141

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,409

10,397

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

4,409

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

7,640

7,025

Deferred

tax

£

Balance at 1 January 2024

7,025

Provided during year

615

Balance at 31 December 2024

7,640

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

12.	ULTIMATE CONTROLLING PARTY

Throughout the current and preceding year the company was under the control of Mr J and Mrs E Waterhouse.