Netcoms.co.uk (Holdings) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09146819 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Netcoms.co.uk (Holdings) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr S L J Grainger

SECRETARY:

Mrs J R Grainger

REGISTERED OFFICE:

Turners House Dunston Court

Dunston Road

Chesterfield

South Yorkshire

S41 8NL

REGISTERED NUMBER:

09146819 (England and Wales)

ACCOUNTANTS:

Langricks (Holmfirth) Limited

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Netcoms.co.uk (Holdings) Ltd for the year ended 31 December 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Netcoms.co.uk (Holdings) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Netcoms.co.uk (Holdings) Ltd and state those matters that we have agreed to state to the director of Netcoms.co.uk (Holdings) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Netcoms.co.uk (Holdings) Ltd and its director for our work or for this report.

It is your duty to ensure that Netcoms.co.uk (Holdings) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Netcoms.co.uk (Holdings) Ltd. You consider that Netcoms.co.uk (Holdings) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Netcoms.co.uk (Holdings) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Langricks (Holmfirth) Limited

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

28 September 2022

FIXED ASSETS

Tangible assets

4

3,616

4,821

Investments

5

120

120

3,736

4,941

CURRENT ASSETS

Debtors

6

241,821

251,668

Cash at bank and in hand

114,455

150,252

356,276

401,920

CREDITORS

Amounts falling due within one year

7

150,365

157,426

NET CURRENT ASSETS

205,911

244,494

TOTAL ASSETS LESS CURRENT LIABILITIES

209,647

249,435

CREDITORS

Amounts falling due after more than one year

8

41,817

45,833

NET ASSETS

167,830

203,602

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

167,710

203,482

167,830

203,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2022 and were signed by:

Mr S L J Grainger - Director

1.	STATUTORY INFORMATION

Netcoms.co.uk (Holdings) Ltd 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.

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

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing arrangement, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2021

and 31 December 2021

10,851

DEPRECIATION

At 1 January 2021

6,030

Charge for year

1,205

At 31 December 2021

7,235

NET BOOK VALUE

At 31 December 2021

3,616

At 31 December 2020

4,821

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2021

and 31 December 2021

120

NET BOOK VALUE

At 31 December 2021

120

At 31 December 2020

120

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

131,278

132,229

Amounts owed by group undertakings

105,317

86,474

Other debtors

5,226

32,965

241,821

251,668

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

5,612

4,167

Trade creditors

29,503

25,503

Taxation and social security

44,285

51,713

Other creditors

70,965

76,043

150,365

157,426

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

41,817

45,833

Amounts falling due in more than five years:

Repayable by instalments

Bank loans payable after 5 yrs

17,908

-

9.	RELATED PARTY DISCLOSURES

The company is related to the director and during the year the director withdrew £25,084.

At 31 December 2021 the company owed £23,589 (2020: £48,673) and is included within creditors.

The company has provided loans to entities in which the director has an interest, and at 31 December 2021 £100 (2020: £20,100) is owed to the company, and included within debtors.

The company has applied the exemption from disclosure of transactions with 100% owed companies as permitted by FRS102.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S L J Grainger.