REGISTERED NUMBER: 08059305 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

SWITCH NETWORKS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bertucci

S Blenkin

REGISTERED OFFICE:

Unit 1b Park Farm Courtyard

Easthorpe

Malton

YO17 6QX

REGISTERED NUMBER:

08059305 (England and Wales)

ACCOUNTANTS:

J S White & Co Limited

25-29 Sandy Way

Yeadon

Leeds

LS19 7EW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

41,875

53,498

41,875

53,498

CURRENT ASSETS

Stocks

24,300

18,800

Debtors

6

96,599

91,176

Prepayments and accrued income

1,654

(1,780

)

Cash at bank

364,278

274,705

486,831

382,901

CREDITORS

Amounts falling due within one year

7

394,710

288,148

NET CURRENT ASSETS

92,121

94,753

TOTAL ASSETS LESS CURRENT LIABILITIES

133,996

148,251

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

133,994

148,249

133,996

148,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

J Bertucci - Director

S Blenkin - Director

1.	STATUTORY INFORMATION

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 NIL (2024 - 10 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

33,000

AMORTISATION

At 1 June 2024

and 31 May 2025

33,000

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2024

36,861

4,725

34,490

24,696

100,772

Additions

484

3,619

-

1,123

5,226

At 31 May 2025

37,345

8,344

34,490

25,819

105,998

DEPRECIATION

At 1 June 2024

14,754

3,834

8,623

20,063

47,274

Charge for year

7,440

1,043

6,466

1,900

16,849

At 31 May 2025

22,194

4,877

15,089

21,963

64,123

NET BOOK VALUE

At 31 May 2025

15,151

3,467

19,401

3,856

41,875

At 31 May 2024

22,107

891

25,867

4,633

53,498

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

96,599

91,176

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

65,610

30,162

Taxation and social security

81,439

44,878

Other creditors

247,661

213,108

394,710

288,148