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Registered number: 11590146
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UK Fibre Networks (York) Ltd
Annual report - filing copy
31 October 2025
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UK Fibre Networks (York) Ltd
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Balance sheet
At 31 October 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2026.
Company registered number: 11590146
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UK Fibre Networks (York) Ltd
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Balance sheet (continued)
At 31 October 2025
The notes on pages 3 to 8 form part of these financial statements.
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
UK Fibre Networks (York) Ltd (‘the company’) specialises in the building, and operating of, fibre broadband networks in areas of national heritage interest, ensuring modern digital connectivity while preserving the historical and cultural integrity of each location.
The company is a private company limited by shares, incorporated in the United Kingdom and registered
in England and Wales. The address of the registered office is given in the company information page of
the annual report.
The financial statements have been prepared in accordance with United Kingdom Accounting Standards,
including Section 1A of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in
the United Kingdom and the Republic of Ireland’ (‘FRS 102’), and the Companies Act 2006.
3.Accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented, unless otherwise stated.
The financial statements are prepared on a going concern basis and under the historical cost convention. They are presented in pounds sterling and rounded to the nearest pound.
The current reporting period of 15 months from 23 July 2024 to 31 October 2025 is longer compared to the prior reporting period of 10 months from 1 October 2023 to 22 July 2024. This is due to the acquisition of the company by Svella Technologies Limited and to align the year end with the group. As such, comparative amounts presented in the financial statements are not directly comparable.
The company’s ultimate parent is Svella Plc. Part of the group’s strategy is to acquire controlling interests in underperforming or distressed businesses and assets and to implement a business improvement strategy by utilising its skills and knowhow to deliver returns for its shareholders.
The company meets its day to day working capital requirements through the financial and other support of its ultimate parent undertaking, the directors of which have confirmed their intention to continue to provide such support, including not seeking repayment of amounts due to it, for at least the next twelve months following approval of these financial statements and thereafter for the foreseeable future, until the company can reasonable afford to do so.
The company’s net liability position at the balance sheet date is driven primarily by amounts owed to its parent undertaking. Excluding this intercompany balance, the company would have a positive net asset position of approximately £1.0m at the balance sheet date. The directors therefore consider that the company’s reported net liabilities should be viewed in the context of the ongoing financial support provided by the wider group and the parent undertaking’s stated intention not to seek repayment of these balances in the foreseeable future.
After making enquiries, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future and, accordingly, continue to adopt the going concern basis of accounting in preparing these financial statements.
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
3.Accounting policies (continued)
Turnover
Turnover comprises revenue recognised in respect of services supplied during the period, net of
discounts and excluding Value Added Tax.
Turnover is recognised as services are provided. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
Short-term benefits
Short-term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the employee’s entitlement to the benefit accrues.
Defined contribution pension plan
The company operates a defined contribution pension plan for its employees. Contributions are recognised as an expense when they fall due. Amounts due but not yet paid are included within creditors on the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price plus any further costs directly attributable to bringing the asset to its working condition for its intended use.
Depreciation is provided on all tangible fixed assets, other than assets under construction, at rates calculated to write off the cost of fixed assets, less estimated residual value over its expected useful life as follows:
Network assets - 35 years straight line
IT development - 3 years straight line
Asset residual values and useful lives are reviewed at the end of each reporting period, and adjusted if appropriate. The effect of any change is accounted for prospectively.
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on intangible assets so as to write off the cost of an asset over its estimated useful life as follows:
Customer contracts - 2 years straight line
Amortisation is included in ‘administrative expenses’ in the profit and loss account.
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
3.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
The taxation expense for the year comprises current and deferred tax and is recognised in the profit and loss account.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, cash and bank balances and amounts owed to and from group undertakings.
Debt instruments due within one year are measured, initially and subsequently at the transaction price. Debt instruments due after one year are measured initially at the transaction price and subsequently at amortised cost using the effective interest method.
At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment charge is recognised in the profit and loss account.
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The average monthly number of employees, including directors, during the period was 2 (2024: 2).
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
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Assets under construction
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Transfers between classes
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Prepayments and accrued income
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7
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UK Fibre Networks (York) Ltd
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Notes to the financial statements
Period ended 31 October 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand. The parent undertaking has confirmed that it does not intend to demand repayment of these balances for at least the next twelve months from the date of approval of these financial statements and thereafter until the company can reasonably afford to do so.
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The company is a subsidiary undertaking of Svella Technologies Limited, Fifteen Montgomery Way, Rosehill Industrial Estate, Carlisle, CA1 2RW.
The smallest and largest group in which the results of the company are consolidated is headed by Svella PLC, a company registered in England and Wales.
The consolidated financial statements of the group are available to the public and may be obtained from its registered address Fifteen Montgomery Way, Rosehill Industrial Estate, Carlisle, CA1 2RW.
These accounts have been subject to audit, however under section 444 of the Companies Act 2006, the
company has chosen not to file a copy of the profit and loss account (and related notes). Therefore, the
audit report on the financial statements has also been removed for filing purposes.
The audit report was signed on 14 July 2026 by Peter Sym (Senior Statutory Auditor), for and on behalf
of UNW LLP, Statutory Auditor, Newcastle upon Tyne. The audit report gave an unqualified opinion.
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