Company No: 04280176 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	215,401		221,043
		215,401		221,043
Current assets
Debtors	4	172,486		374,975
Cash at bank and in hand	5	13,712		40,847
		186,198		415,822
Creditors: amounts falling due within one year	6	( 216,541)		( 354,615)
Net current (liabilities)/assets		(30,343)		61,207
Total assets less current liabilities		185,058		282,250
Creditors: amounts falling due after more than one year	7	( 15,776)		( 25,705)
Provision for liabilities	8	( 2,516)		( 2,959)
Net assets		166,766		253,586
Capital and reserves
Called-up share capital	10	50		50
Capital redemption reserve		50		50
Profit and loss account		166,666		253,486
Total shareholders' funds		166,766		253,586

For the financial year ending 31 March 2024 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Netec Global Consulting Limited (registered number: 04280176) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

I M Doctors Director

03 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Netec Global Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	3		3

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2023	248,683		61,541		310,224
Additions	0		1,601		1,601
At 31 March 2024	248,683		63,142		311,825
Accumulated depreciation
At 01 April 2023	39,730		49,451		89,181
Charge for the financial year	3,973		3,270		7,243
At 31 March 2024	43,703		52,721		96,424
Net book value
At 31 March 2024	204,980		10,421		215,401
At 31 March 2023	208,953		12,090		221,043

4. Debtors

	2024		2023
	£		£
Trade debtors	47,440		141,891
Other debtors	125,046		233,084
	172,486		374,975

Included in other debtors is £79,027 (2023: £191,667) owed by the directors. This balance is unsecured and repayable on demand. Interest has been charged at the official rate.

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	13,712		40,847

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	7,500		7,500
Trade creditors	100,205		209,668
Taxation and social security	77,231		106,406
Other creditors	31,605		31,041
	216,541		354,615

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	15,776		25,705

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 2,959)		( 1,024)
Credited/(charged) to the Statement of Income and Retained Earnings	443		( 1,935)
At the end of financial year	( 2,516)		( 2,959)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 2,604)		( 3,022)
Other timing differences	88		63
	( 2,516)		( 2,959)

9. Financial instruments

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each	50		50

11. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	354		254