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Registered number: 02606505 LINE NETWORKS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
LINE NETWORKS LIMITED
COMPANY INFORMATION
Director | Victor Geoffrey Wilson
Registered number | 02606505
Registered office | 40 Chamberlayne Road
| London
| NW10 3JE
Accountants | Simmons Gainsford Professional Services Limited
| Chartered Accountants
| 14th Floor
| 33 Cavendish Square
| London
| W1G 0PW
Bankers | National Westminster
| PO Box 2162
| 20 Dean Street
| London
| W1A 1SX
LINE NETWORKS LIMITED
CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 7
LINE NETWORKS LIMITED REGISTERED NUMBER:02606505
BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 353 |  | 529
|  |  | 353 |  | 529
Current assets |  |  |  |  |
Stocks |  | 640 |  | 640 |
Debtors | 5 | 42,874 |  | 20,652 |
Cash at bank and in hand |  | 57,593 |  | 43,789 |
|  | 101,107 |  | 65,081 |
Creditors: amounts falling due within one year | 6 | (39,218) |  | (32,342) |
Net current assets |  |  | 61,889 |  | 32,739
Total assets less current liabilities |  |  | 62,242 |  | 33,268
Net assets |  |  | 62,242 |  | 33,268
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 150 |  | 150
Profit and loss account |  |  | 62,092 |  | 33,118
|  |  | 62,242 |  | 33,268
Page 1
LINE NETWORKS LIMITED REGISTERED NUMBER:02606505
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.
___________________________ Victor Geoffrey Wilson
Director
Page 2
LINE NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Line Networks Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Chamberlayne Road, London, NW10 3JE. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
| 2.2 | 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.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% | straight line
|  |  |  | Computer equipment | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads. Page 3
LINE NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
Page 4
LINE NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 7,273 | 6,500 | 755 | 14,528
| At 31 December 2024 | 7,273 | 6,500 | 755 | 14,528
| Depreciation |  |  |  |
| At 1 January 2024 | 7,273 | 6,500 | 226 | 13,999
| Charge for the year on owned assets | - | - | 176 | 176
| At 31 December 2024 | 7,273 | 6,500 | 402 | 14,175
| Net book value |  |  |  |
| At 31 December 2024 | - | - | 353 | 353
| At 31 December 2023 | - | - | 529 | 529
Page 5
LINE NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 40,682 | 17,495
| Other debtors | - | 3,157
| Prepayments | 2,192 | -
|  | 42,874 | 20,652
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Company credit card | 494 | 752
| Trade creditors | - | 2,533
| Corporation tax | 4,772 | -
| Other taxation and social security | 9,195 | 10,758
| Other creditors | 12,319 | 7,809
| Accruals | 12,438 | 10,490
|  | 39,218 | 32,342
7. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 150 Ordinary shares of £1 each | 150 | 150
8. | Profit and loss reserves
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Profit and loss account brought forward at the beginning of the year | 33,118 | 32,712
| Profit/ (Loss) | 28,974 | 406
|  | 62,092 | 33,118
Page 6
LINE NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Post balance sheet events
There were no events since the year end which materially affected the company.
10. | Controlling party
David George Cook, Esq. who holds majority of the shares in Line Networks Limited, is the ultimate controller.
Page 7