REGISTERED NUMBER: 04950488 (England and Wales)

NETRING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R Gray

Mrs D E M Gray

SECRETARY:

D R Gray

REGISTERED OFFICE:

Unit 3

Parc Tanygroes

Cardigan

SA43 2JP

REGISTERED NUMBER:

04950488 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

4

39,850

31,500

Tangible assets

5

167,220

132,152

207,070

163,652

CURRENT ASSETS

Stocks

48,830

20,693

Debtors

6

59,584

63,357

Cash at bank and in hand

40,532

32,195

148,946

116,245

CREDITORS

Amounts falling due within one year

7

135,427

80,484

NET CURRENT ASSETS

13,519

35,761

TOTAL ASSETS LESS CURRENT LIABILITIES

220,589

199,413

PROVISIONS FOR LIABILITIES

9,772

18,723

NET ASSETS

210,817

180,690

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

210,815

180,688

SHAREHOLDERS' FUNDS

210,817

180,690

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 15 December 2025 and were signed on its behalf by:

D R Gray - Director

1.	STATUTORY INFORMATION

Netring 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.

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 2005, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery etc

-

33% on reducing balance and 20% on reducing balance

Stocks

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

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.

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 14 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

95,000

Additions

15,000

At 31 March 2025

110,000

AMORTISATION

At 1 April 2024

63,500

Charge for year

6,650

At 31 March 2025

70,150

NET BOOK VALUE

At 31 March 2025

39,850

At 31 March 2024

31,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2024

26,986

214,462

8,062

Additions

-

28,547

-

At 31 March 2025

26,986

243,009

8,062

DEPRECIATION

At 1 April 2024

-

119,746

7,464

Charge for year

-

22,775

90

At 31 March 2025

-

142,521

7,554

NET BOOK VALUE

At 31 March 2025

26,986

100,488

508

At 31 March 2024

26,986

94,716

598

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

12,998

29,595

292,103

Additions

17,995

44,030

90,572

At 31 March 2025

30,993

73,625

382,675

DEPRECIATION

At 1 April 2024

11,065

21,676

159,951

Charge for year

5,499

27,140

55,504

At 31 March 2025

16,564

48,816

215,455

NET BOOK VALUE

At 31 March 2025

14,429

24,809

167,220

At 31 March 2024

1,933

7,919

132,152

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

52,574

62,482

Other debtors

7,010

875

59,584

63,357

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

7,474

-

Trade creditors

37,736

-

Taxation and social security

13,699

16,160

Other creditors

76,518

64,324

135,427

80,484

8.	RELATED PARTY DISCLOSURES

According to the directors there were no other material related party transactions during the year.

9.	ULTIMATE CONTROLLING PARTY

Ultimate control of the company is exercised by Mr RE Gray and Mr DR Gray, the directors and shareholders of the company.