Company registration number 14176552 (England and Wales)
NCN CONSULTANCY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
NCN CONSULTANCY LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
NCN CONSULTANCY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
166,146
57,227
Current assets
Debtors
5
469,773
189,111
Cash at bank and in hand
525,835
351,444
995,608
540,555
Creditors: amounts falling due within one year
6
(546,931)
(254,192)
Net current assets
448,677
286,363
Total assets less current liabilities
614,823
343,590
Creditors: amounts falling due after more than one year
7
(114,406)
(36,271)
Provisions for liabilities
(41,537)
(14,307)
Net assets
458,880
293,012
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
458,780
292,912
Total equity
458,880
293,012

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 February 2026 and are signed on its behalf by:
Mr N Nagar
Director
Company registration number 14176552 (England and Wales)
NCN CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
As restated for the period ended 30 June 2024:
Balance at 1 July 2023
100
67,960
68,060
Effect of transition to FRS 102
-
0
(16,054)
(16,054)
As restated
100
51,906
52,006
Year ended 30 June 2024:
Profit and total comprehensive income
-
272,006
272,006
Dividends
-
(31,000)
(31,000)
Balance at 30 June 2024
100
292,912
293,012
Year ended 30 June 2025:
Profit and total comprehensive income
-
393,868
393,868
Dividends
-
(228,000)
(228,000)
Balance at 30 June 2025
100
458,780
458,880
NCN CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

NCN Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prebend House, 72 London Road, Leicester, LE2 0QR.

2.1
Basis of preparation

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.

These financial statements for the year ended 30 June 2025 are the first financial statements of NCN Consultancy Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2023. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 10.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised on an accruals basis. Services performed during the year but invoiced to the client after the year end is treated as accrued income.

2.3
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.

NCN CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2
Accounting policies
(Continued)
- 4 -

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 & Equipment
25% reducing balance basis.
Motor vehicles
33.33% straight line basis.

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.

2.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2.5
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.

2.6
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 statement of financial position 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 AND LIABILITIES

Basic financial assets and liabilities, which include debtors and creditors with no stated interest rate and receivables or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2.7
Taxation

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

CURRENT TAX

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

NCN CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
2
Accounting policies
(Continued)
- 5 -
DEFERRED TAX

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.9
Leases

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.10
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.

2.11

Restatement of comparatives

The comparative figures in these financial statements have been restated which reflect the impact of transitioning to FRS 102. Further details can be found in note 10.

3
Employees

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

2025
2024
Number
Number
Total
2
2
NCN CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
4
Tangible fixed assets
Fixtures, Fittings & Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2024
7,791
70,235
78,026
Additions
7,398
180,860
188,258
Disposals
-
0
(70,235)
(70,235)
At 30 June 2025
15,189
180,860
196,049
Depreciation and impairment
At 1 July 2024
2,705
18,094
20,799
Depreciation charged in the year
5,245
21,953
27,198
Eliminated in respect of disposals
-
0
(18,094)
(18,094)
At 30 June 2025
7,950
21,953
29,903
Carrying amount
At 30 June 2025
7,239
158,907
166,146
At 30 June 2024
5,086
52,141
57,227
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
403,117
97,363
Other debtors
66,239
91,078
Prepayments and accrued income
417
670
469,773
189,111
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
13,314
10,759
Trade creditors
344,813
138,097
Corporation tax
106,233
94,057
Other taxation and social security
102
2,742
Other creditors
77,245
6,069
Accruals and deferred income
5,224
2,468
546,931
254,192

Hire purchase and finance lease obligations are secured against the assets to which they relate.

NCN CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
114,406
36,271

Hire purchase and finance lease obligations are secured against the assets to which they relate.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
0
100
-
0
100
A Ordinary shares of £1 each
70
0
70
-
0
B Ordinary shares of £1 each
10
0
10
-
0
C Ordinary shares of £1 each
20
0
20
-
0
100
100
100
100

During the year, the Ordinary share capital of £1 each was redesignated into A Ordinary, B Ordinary and C Ordinary shares of £1 each.

9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Dividends totalling £228,000 (2024 - £31,000) were paid in the year in respect of shares held by the company's directors.

Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors' Loan Account
2.63
51,100
194,923
798
(316,269)
(69,448)
51,100
194,923
798
(316,269)
(69,448)
10
Reconciliations on adoption of FRS 102

Reconciliations and descriptions of the effect of the transition to FRS 102 on; (i) equity at the date of transition to FRS 102; (ii) equity at the end of the comparative period; and (iii) profit or loss for the comparative period reported under previous UK GAAP are given below.

NCN CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
10
Reconciliations on adoption of FRS 102
(Continued)
- 8 -
Reconciliation of equity
1 July
30 June
2023
2024
Notes
£
£
Equity as reported under previous UK GAAP
68,060
307,319
Adjustments arising from transition to FRS 102:
Deferred tax
1
(16,054)
(14,307)
Equity reported under FRS 102
52,006
293,012
Reconciliation of profit for the financial period
2024
Notes
£
Profit as reported under previous UK GAAP
270,259
Adjustments arising from transition to FRS 102:
Deferred tax
1
1,747
Profit reported under FRS 102
272,006
Notes to reconciliations on adoption of FRS 102
Deferred Tax

(1) Deferred tax timing differences arising from accelerated capital allowances.

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