Registrar

Registration number: 03199465

Net 5 Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Net 5 Limited

Company Information

Directors

K A Hancock S J Hancock

Company secretary

S J Hancock

Registered office

500 Avenue West Skyline 120 Braintree Essex CM77 7AA

Accountants

Lambert Chapman LLP Chartered Accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

Net 5 Limited

(Registration number: 03199465)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	322,217	365,317
Current assets
Livestock - Horses	5	2,853,880	2,598,880
Debtors	6	1,252,888	1,156,339
Cash at bank and in hand		45,734	303,784
		4,152,502	4,059,003
Creditors: Amounts falling due within one year	7	(2,433,587)	(2,385,193)
Net current assets		1,718,915	1,673,810
Total assets less current liabilities		2,041,132	2,039,127
Creditors: Amounts falling due after more than one year	7	(398,144)	(478,512)
Provisions for liabilities		(82,838)	(91,329)
Net assets		1,560,150	1,469,286
Capital and reserves
Called up share capital	8	100	100
Retained earnings		1,560,050	1,469,186
Shareholders' funds		1,560,150	1,469,286

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

K A Hancock
Director

Net 5 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 500 Avenue West, Skyline 120, Braintree, Essex, CM77 7AA.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of warranties, rebates receivable and purchase, training and development of show jumping horses for future sale in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	25% Reducing Balance
Plant and machinery	25% Reducing Balance

Net 5 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stock comprises of Horses. These are valued based on original cost plus an element of training and veterinary costs that the Directors feel are appropriate to increase the value of the horse. The values are considered each to ensure that the value has not impaired, where there is an impairment loss this is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Net 5 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Fixtures and Fittings  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	26,088	585,258	611,346
Additions	53,783	-	53,783
At 31 March 2025	79,871	585,258	665,129
Depreciation
At 1 April 2024	20,498	225,531	246,029
Charge for the year	6,952	89,931	96,883
At 31 March 2025	27,450	315,462	342,912
Carrying amount
At 31 March 2025	52,421	269,796	322,217
At 31 March 2024	5,590	359,727	365,317

5

Stocks

	2025 £	2024 £
Livestock - Horses	2,853,880	2,598,880

6

Debtors

	Note	2025 £	2024 £
Trade debtors		145,825	30,147
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10	479,986	480,220
Other debtors		627,077	645,972
		1,252,888	1,156,339

Net 5 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	80,368	63,067
Trade creditors		3,401	4,988
Taxation and social security		257,700	206,594
Accruals and deferred income		7,045	2,450
Other creditors		2,085,073	2,108,094
		2,433,587	2,385,193

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	398,144	478,512

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	51,051	45,620
Finance lease liabilities	29,317	17,447
	80,368	63,067

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	18,223	69,274
Finance lease liabilities	379,921	409,238
	398,144	478,512

Net 5 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10	Related party transactions

2025	At 1 April 2024 £	Repayments by director £	At 31 March 2025 £
	480,220	(234)	479,986

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
	466,064	23,598	(9,442)	480,220