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Unaudited Financial Statements |
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for the Year Ended 31 August 2021 |
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for |
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Cambridge Fibre Networks Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 August 2021 |
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for |
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Cambridge Fibre Networks Ltd |
Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Contents of the Financial Statements |
for the year ended 31 August 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Cambridge Fibre Networks Ltd |
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Company Information |
for the year ended 31 August 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Quern House |
Mill Court |
Great Shelford |
Cambridge |
Cambridgeshire |
CB22 5LD |
Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Balance Sheet |
31 August 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium | 10 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Balance Sheet - continued |
31 August 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Notes to the Financial Statements |
for the year ended 31 August 2021 |
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1. | STATUTORY INFORMATION |
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Cambridge Fibre Networks Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Intangible assets |
Intangible assets includes the purchase of IP addresses which are currently be valued at the market rate, with any future revaluation being charged/credited to the profit and loss account. |
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Tangible fixed assets |
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Motor Vehicles | - |
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Plant and machinery | - |
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Civil Construction | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 September 2020 |
and 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' loan accounts | - | 330 |
VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors' loan accounts | 199,785 | 50 |
Accrued expenses |
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8. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 96,962 | 49,987 |
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Deferred |
tax |
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Balance at 1 September 2020 |
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Provided during year |
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Balance at 31 August 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1 | 2 | 2 |
Cambridge Fibre Networks Ltd (Registered number: 10542520) |
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Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
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10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 September 2020 | ( |
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141,348 |
Deficit for the year | ( |
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At 31 August 2021 | ( |
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125,911 |
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11. | RELATED PARTY DISCLOSURES |
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During the year, the company sold services to Netservers Limited, a company wholly controlled by the director Mr McEleney, to the value of £69,912. |
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During the year, the company received services from Netservers Limited, a company wholly controlled by the director Mr McEleney, to the value of £72,121. |
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At the year end, the company owed a net balance of £11,339 to Netservers Limited. |
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At the year end, the company owed a balance to the director, Ms C Mul, of £100,083. |
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At the year end, the company owed a balance to the director, Mr J McEleney, of £99,702. |
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12. | ULTIMATE CONTROLLING PARTY |
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There is believed to be no ultimate controlling party given the 50% shareholding that both Mr McEleney & Ms Mul hold. |