REGISTERED NUMBER: 06690894 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

New Networks Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J A Newton

REGISTERED OFFICE:

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

REGISTERED NUMBER:

06690894 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Tangible assets

4

2,032

-

CURRENT ASSETS

Debtors

5

771,182

227,278

Investments

6

105,173

92,112

Cash at bank

105,597

73,209

981,952

392,599

CREDITORS

Amounts falling due within one year

7

753,087

222,025

NET CURRENT ASSETS

228,865

170,574

TOTAL ASSETS LESS CURRENT LIABILITIES

230,897

170,574

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

8

229,897

169,574

SHAREHOLDERS' FUNDS

230,897

170,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:

J A Newton - Director

1.	STATUTORY INFORMATION

New Networks 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment

- 33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Distributions to equity holders

Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Investments

Investments are measured at fair value and income is accounted for when received.

Share capital

Ordinary shares are classed as equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

2,011

Additions

3,048

Disposals

(2,011

)

At 30 September 2024

3,048

DEPRECIATION

At 1 October 2023

2,011

Charge for year

1,016

Eliminated on disposal

(2,011

)

At 30 September 2024

1,016

NET BOOK VALUE

At 30 September 2024

2,032

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,333

207,652

Other debtors

759,849

19,626

771,182

227,278

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Other investments

105,173

92,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

40,942

30,500

Other creditors

712,145

191,525

753,087

222,025

8.

RESERVES

Retained

earnings

£

At 1 October 2023

169,574

Profit for the year

105,323

Dividends

(45,000

)

At 30 September 2024

229,897

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the director is owed £40,195 (2023: £4,995) which is repayable on demand and attracts no interest.