Company registration number 06515580 (England and Wales)
IDENTIFY NETWORKS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
IDENTIFY NETWORKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
IDENTIFY NETWORKS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
1,517,311
1,079,919
Cash at bank and in hand
419,277
81,235
1,936,588
1,161,154
Creditors: amounts falling due within one year
5
(1,758,537)
(1,077,020)
Net current assets
178,051
84,134
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
177,951
84,034
Total equity
178,051
84,134

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 12 September 2025
Mr P R Roebuck
Director
Company registration number 06515580 (England and Wales)
IDENTIFY NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Identify Networks Limited is a private company limited by shares incorporated in England and Wales. The registered office is B2 Building (4th Floor), Bear Brook Business Park, Walton Street, Aylesbury, Buckinghamshire, HP21 7QW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
25% - 50% straight line

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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

IDENTIFY NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Short term trade debtors are measured at transaction price, less any impairment. Other debtors are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost, less any impairment.

Basic financial liabilities

Short term trade creditors are measured at transaction price. Other financial liabilities are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
IDENTIFY NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
61,894
Disposals
(61,894)
At 31 December 2024
-
0
Depreciation and impairment
At 1 January 2024
61,894
Eliminated in respect of disposals
(61,894)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,191,193
638,362
Amounts owed by group undertakings
208,602
239,398
Prepayments and accrued income
117,516
202,159
1,517,311
1,079,919
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
61,253
-
0
Trade creditors
433,508
477,747
Amounts owed to group undertakings
353,982
167,886
Corporation tax
16,420
-
0
Other creditors
893,374
431,387
1,758,537
1,077,020

Included within other creditors is an amount of £893,374 in respect of invoice discounting (2023 - £431,387) which is secured by way of a fixed and floating charge over the assets of the company.

IDENTIFY NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.001p each
10,000,000
10,000,000
100
100
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Robert Kempson ACA
Statutory Auditor:
Edwards
Date of audit report:
17 September 2025
8
Financial commitments, guarantees and contingent liabilities

Identify Networks Limited is party to a cross guarantee securing overdraft facilities for Shirley Parsons Professional Services Limited and Shirley Parsons Limited. At 31 December 2024, the overdrafts under the arrangement totalled £302,793 (2023 - £Nil) and the overall net banking position under the arrangement was £261,336 (2023 - £504,414).

9
Related party transactions

The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.

10
Controlling party

Shirley Parsons Professional Services Limited is the immediate parent undertaking of the company.

Shirley Parsons Holdings Limited is the largest and smallest group for which group financial statements are prepared. The group financial statements are available to the public and may be obtained from Companies House.

The ultimate controlling party is deemed to be the Roebuck family due to their majority ownership of the company.

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