Company Registration No. 08111717 (England and Wales)
OBSIDIAN NETWORKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
OBSIDIAN NETWORKS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
OBSIDIAN NETWORKS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
13,794
10,298
Current assets
Debtors
6
176,868
154,626
Cash at bank and in hand
121,882
155,105
298,750
309,731
Creditors: amounts falling due within one year
7
(129,703)
(112,763)
Net current assets
169,047
196,968
Total assets less current liabilities
182,841
207,266
Creditors: amounts falling due after more than one year
8
(47,000)
(56,999)
Provisions for liabilities
(3,449)
(2,414)
Net assets
132,392
147,853
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
132,292
147,753
Total equity
132,392
147,853
OBSIDIAN NETWORKS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 January 2026
Mr P Munnelly
Director
Company registration number 08111717 (England and Wales)
OBSIDIAN NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Obsidian Networks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Bretton Hall Offices, Chester Road, Bretton, Chester, CH4 0DF.

1.1
Accounting convention

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.

1.2
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 contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.4
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.

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 and fittings
25% reducing balance
Computers
25% straight line
Motor vehicles
20% reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

OBSIDIAN NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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.

1.7
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 balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

OBSIDIAN NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

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

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 profit and loss account, 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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits

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

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

OBSIDIAN NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
3
Employees

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

2025
2024
Number
Number
Total
10
8
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2024 and 30 June 2025
30,000
Amortisation and impairment
At 1 July 2024 and 30 June 2025
30,000
Carrying amount
At 30 June 2025
-
0
At 30 June 2024
-
0
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2024
91,229
Additions
7,722
At 30 June 2025
98,951
Depreciation and impairment
At 1 July 2024
80,931
Depreciation charged in the year
4,226
At 30 June 2025
85,157
Carrying amount
At 30 June 2025
13,794
At 30 June 2024
10,298
OBSIDIAN NETWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
123,104
97,045
Other debtors
53,764
57,581
176,868
154,626
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9,165
10,000
Trade creditors
49,320
39,853
Corporation tax
7,776
9,116
Other taxation and social security
40,800
31,272
Other creditors
22,642
22,522
129,703
112,763
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
9,999
Other creditors
47,000
47,000
47,000
56,999
2025-06-30 2024-07-01 false false false 20 January 2026 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr P Munnelly 08111717 2024-07-01 2025-06-30 08111717 2025-06-30 08111717 2024-06-30 08111717 core:OtherPropertyPlantEquipment 2025-06-30 08111717 core:OtherPropertyPlantEquipment 2024-06-30 08111717 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 08111717 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08111717 core:ShareCapital 2025-06-30 08111717 core:ShareCapital 2024-06-30 08111717 core:RetainedEarningsAccumulatedLosses 2025-06-30 08111717 core:RetainedEarningsAccumulatedLosses 2024-06-30 08111717 bus:Director1 2024-07-01 2025-06-30 08111717 core:Goodwill 2024-07-01 2025-06-30 08111717 core:FurnitureFittings 2024-07-01 2025-06-30 08111717 core:ComputerEquipment 2024-07-01 2025-06-30 08111717 core:MotorVehicles 2024-07-01 2025-06-30 08111717 2023-07-01 2024-06-30 08111717 core:NetGoodwill 2024-06-30 08111717 core:NetGoodwill 2025-06-30 08111717 core:NetGoodwill 2024-06-30 08111717 core:OtherPropertyPlantEquipment 2024-06-30 08111717 core:OtherPropertyPlantEquipment 2024-07-01 2025-06-30 08111717 core:CurrentFinancialInstruments 2025-06-30 08111717 core:CurrentFinancialInstruments 2024-06-30 08111717 core:WithinOneYear 2025-06-30 08111717 core:WithinOneYear 2024-06-30 08111717 core:Non-currentFinancialInstruments 2025-06-30 08111717 core:Non-currentFinancialInstruments 2024-06-30 08111717 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 08111717 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 08111717 bus:FRS102 2024-07-01 2025-06-30 08111717 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 08111717 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP