IRIS Accounts Production v25.3.0.601 10508381 Board of Directors 1.4.24 31.3.25 31.3.25 15.10.25 false true false false true false Auditors Opinion Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10508381 2024-03-31 10508381 2025-03-31 10508381 2024-04-01 2025-03-31 10508381 2023-03-31 10508381 2023-04-01 2024-03-31 10508381 2024-03-31 10508381 ns15:EnglandWales 2024-04-01 2025-03-31 10508381 ns14:PoundSterling 2024-04-01 2025-03-31 10508381 ns10:Director1 2024-04-01 2025-03-31 10508381 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10508381 ns10:SmallEntities 2024-04-01 2025-03-31 10508381 ns10:Audited 2024-04-01 2025-03-31 10508381 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 10508381 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10508381 ns10:FullAccounts 2024-04-01 2025-03-31 10508381 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 10508381 ns10:OrdinaryShareClass2 2024-04-01 2025-03-31 10508381 ns10:OrdinaryShareClass3 2024-04-01 2025-03-31 10508381 ns10:Director2 2024-04-01 2025-03-31 10508381 ns10:CompanySecretary1 2024-04-01 2025-03-31 10508381 ns10:RegisteredOffice 2024-04-01 2025-03-31 10508381 ns5:CurrentFinancialInstruments 2025-03-31 10508381 ns5:CurrentFinancialInstruments 2024-03-31 10508381 ns5:ShareCapital 2025-03-31 10508381 ns5:ShareCapital 2024-03-31 10508381 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 10508381 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 10508381 ns5:PlantMachinery 2024-04-01 2025-03-31 10508381 ns5:PlantMachinery 2024-03-31 10508381 ns5:PlantMachinery 2025-03-31 10508381 ns5:PlantMachinery 2024-03-31 10508381 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 10508381 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 10508381 ns10:OrdinaryShareClass1 2025-03-31 10508381 ns10:OrdinaryShareClass2 2025-03-31 10508381 ns10:OrdinaryShareClass3 2025-03-31

REGISTERED NUMBER: 10508381 (England and Wales)

| Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Networx Utilities Limited |

| Networx Utilities Limited (Registered number: 10508381) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Networx Utilities Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | J N E Breheny

| S Aziz

| SECRETARY: | S Aziz

| REGISTERED OFFICE: | Flordon Road

| Creeting St Mary

| Ipswich

| Suffolk

| IP6 8NH

| REGISTERED NUMBER: | 10508381 (England and Wales)

| AUDITORS: | Wright Vigar Limited

| Statutory Auditors

| Chartered Accountants & Business Advisers

| 15 Newland

| Lincoln

| Lincolnshire

| LN1 1XG

| Networx Utilities Limited (Registered number: 10508381) |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 20,405 |  | 25,821 |  |

CURRENT ASSETS

Debtors | 5 | 4,490,335 |  | 4,380,849 |  |

Cash at bank | 161,442 |  | 258,703 |  |

4,651,777 |  | 4,639,552 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,173,882 |  | 5,423,108 |  |

NET CURRENT LIABILITIES | (522,105 | ) | (783,556 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (501,700 | ) | (757,735 | ) |

PROVISIONS FOR LIABILITIES | 5,101 |  | - |  |

NET LIABILITIES | (506,801 | ) | (757,735 | ) |

CAPITAL AND RESERVES

Called up share capital | 7 | 100 |  | 100 |  |

Retained earnings | (506,901 | ) | (757,835 | ) |

SHAREHOLDERS' FUNDS | (506,801 | ) | (757,735 | ) |

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 15 October 2025 and were signed on its behalf by:

J N E Breheny - Director

| Networx Utilities Limited (Registered number: 10508381) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Networx Utilities 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.

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.

| At the year end net liabilities exceeded net assets by £506,801 (2024: £757,735). The company has the continued support of its parent company and on this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| 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

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

| Plant and machinery | - | 25% on reducing balance

| Financial instruments

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

| 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.

| Networx Utilities Limited (Registered number: 10508381) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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 5 (2024 - 4 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 April 2024 | 25,821 |  |

| Additions | 21,311 |  |

| Disposals | (25,821 | ) |

| At 31 March 2025 | 21,311 |  |

| DEPRECIATION

| Charge for year | 4,198 |  |

| Eliminated on disposal | (3,292 | ) |

| At 31 March 2025 | 906 |  |

| NET BOOK VALUE

| At 31 March 2025 | 20,405 |  |

| At 31 March 2024 | 25,821 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 586,564 |  | 447,194 |  |

| Amounts owed by group undertakings | 3,557,160 |  | 3,543,045 |  |

| Amounts recoverable on contracts | 259,748 |  | 289,461 |  |

| Other debtors | 86,863 |  | 101,149 |  |

4,490,335 |  | 4,380,849 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Provision for future costs | 4,759,046 |  | 5,137,734 |  |

| Trade creditors | 225,854 |  | 205,680 |  |

| Taxation and social security | 135,076 |  | 57,313 |  |

| Other creditors | 53,906 |  | 22,381 |  |

5,173,882 |  | 5,423,108 |  |

| Networx Utilities Limited (Registered number: 10508381) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 78 | Ordinary | £1 | 78 |  | 78 |  |

| 15 | B Ordinary | £1 | 15 |  | 15 |  |

| 7 | C Ordinary | £1 | 7 |  | 7 |  |

100 |  | 100 |  |

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Kevin Shaw Bsc FCA (Senior Statutory Auditor)

| for and on behalf of Wright Vigar Limited

9. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 34,170 |  | - |  |

10. | OTHER FINANCIAL COMMITMENTS

| The company is party to an intercompany guarantee agreement, with an unlimited guarantee given by Breheny Group Limited, all subsidiaries within the Breheny Group, and by Breheny Group Plant Limited, Redbourne Homes (Epworth) Limited and Redbourne Homes (Warboys) Limited. This is supported by debentures by Breheny Group Limited, by all subsidiaries within the Breheny Group, and by Breheny Group Plant Limited, Redbourne Homes (Epworth) Limited and Redbourne Homes (Warboys) Limited.

11. | ULTIMATE CONTROLLING PARTY

| The Parent Company is Breheny Group Ltd. The company's registered office is as follows:

| Flordon Road

| Creeting St Mary

| Needham Market

| Ipswich

| Suffolk

| IP6 8NH