NETWORK DISTRIBUTING LIMITED

NETWORK DISTRIBUTING LIMITED - Company Information

2021-04-012022-03-312022-03-31false01476436NETWORK DISTRIBUTING LIMITED2023-03-31iso4217:GBPxbrli:pure014764362021-04-01014764362022-03-31014764362021-04-012022-03-31014764362020-04-01014764362021-03-31014764362020-04-012021-03-3101476436bus:SmallEntities2021-04-012022-03-3101476436bus:AuditExempt-NoAccountantsReport2021-04-012022-03-3101476436bus:FullAccounts2021-04-012022-03-3101476436bus:PrivateLimitedCompanyLtd2021-04-012022-03-3101476436core:WithinOneYear2022-03-3101476436core:AfterOneYear2022-03-3101476436core:WithinOneYear2021-03-3101476436core:AfterOneYear2021-03-3101476436core:ShareCapital2022-03-3101476436core:SharePremium2022-03-3101476436core:RevaluationReserve2022-03-3101476436core:OtherReservesSubtotal2022-03-3101476436core:RetainedEarningsAccumulatedLosses2022-03-3101476436core:ShareCapital2021-03-3101476436core:SharePremium2021-03-3101476436core:RevaluationReserve2021-03-3101476436core:OtherReservesSubtotal2021-03-3101476436core:RetainedEarningsAccumulatedLosses2021-03-3101476436core:LandBuildings2022-03-3101476436core:PlantMachinery2022-03-3101476436core:Vehicles2022-03-3101476436core:FurnitureFittings2022-03-3101476436core:OfficeEquipment2022-03-3101476436core:NetGoodwill2022-03-3101476436core:IntangibleAssetsOtherThanGoodwill2022-03-3101476436core:ListedExchangeTraded2022-03-3101476436core:UnlistedNon-exchangeTraded2022-03-3101476436core:LandBuildings2021-03-3101476436core:PlantMachinery2021-03-3101476436core:Vehicles2021-03-3101476436core:FurnitureFittings2021-03-3101476436core:OfficeEquipment2021-03-3101476436core:NetGoodwill2021-03-3101476436core:IntangibleAssetsOtherThanGoodwill2021-03-3101476436core:ListedExchangeTraded2021-03-3101476436core:UnlistedNon-exchangeTraded2021-03-3101476436core:LandBuildings2021-04-012022-03-3101476436core:PlantMachinery2021-04-012022-03-3101476436core:Vehicles2021-04-012022-03-3101476436core:FurnitureFittings2021-04-012022-03-3101476436core:OfficeEquipment2021-04-012022-03-3101476436core:NetGoodwill2021-04-012022-03-3101476436core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3101476436core:ListedExchangeTraded2021-04-012022-03-3101476436core:UnlistedNon-exchangeTraded2021-04-012022-03-3101476436core:MoreThanFiveYears2021-04-012022-03-3101476436core:Non-currentFinancialInstruments2022-03-3101476436core:Non-currentFinancialInstruments2021-03-3101476436dpl:CostSales2021-04-012022-03-3101476436dpl:DistributionCosts2021-04-012022-03-3101476436dpl:AdministrativeExpenses2021-04-012022-03-3101476436core:LandBuildings2021-04-012022-03-3101476436core:PlantMachinery2021-04-012022-03-3101476436core:Vehicles2021-04-012022-03-3101476436core:FurnitureFittings2021-04-012022-03-3101476436core:OfficeEquipment2021-04-012022-03-3101476436core:NetGoodwill2021-04-012022-03-3101476436core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3101476436dpl:GroupUndertakings2021-04-012022-03-3101476436dpl:ParticipatingInterests2021-04-012022-03-3101476436dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3101476436core:ListedExchangeTraded2021-04-012022-03-3101476436dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3101476436core:UnlistedNon-exchangeTraded2021-04-012022-03-3101476436dpl:CostSales2020-04-012021-03-3101476436dpl:DistributionCosts2020-04-012021-03-3101476436dpl:AdministrativeExpenses2020-04-012021-03-3101476436core:LandBuildings2020-04-012021-03-3101476436core:PlantMachinery2020-04-012021-03-3101476436core:Vehicles2020-04-012021-03-3101476436core:FurnitureFittings2020-04-012021-03-3101476436core:OfficeEquipment2020-04-012021-03-3101476436core:NetGoodwill2020-04-012021-03-3101476436core:IntangibleAssetsOtherThanGoodwill2020-04-012021-03-3101476436dpl:GroupUndertakings2020-04-012021-03-3101476436dpl:ParticipatingInterests2020-04-012021-03-3101476436dpl:GroupUndertakingscore:ListedExchangeTraded2020-04-012021-03-3101476436core:ListedExchangeTraded2020-04-012021-03-3101476436dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-04-012021-03-3101476436core:UnlistedNon-exchangeTraded2020-04-012021-03-3101476436core:NetGoodwill2022-03-3101476436core:IntangibleAssetsOtherThanGoodwill2022-03-3101476436core:LandBuildings2022-03-3101476436core:PlantMachinery2022-03-3101476436core:Vehicles2022-03-3101476436core:FurnitureFittings2022-03-3101476436core:OfficeEquipment2022-03-3101476436core:AfterOneYear2022-03-3101476436core:WithinOneYear2022-03-3101476436core:ListedExchangeTraded2022-03-3101476436core:UnlistedNon-exchangeTraded2022-03-3101476436core:ShareCapital2022-03-3101476436core:SharePremium2022-03-3101476436core:RevaluationReserve2022-03-3101476436core:OtherReservesSubtotal2022-03-3101476436core:RetainedEarningsAccumulatedLosses2022-03-3101476436core:NetGoodwill2021-03-3101476436core:IntangibleAssetsOtherThanGoodwill2021-03-3101476436core:LandBuildings2021-03-3101476436core:PlantMachinery2021-03-3101476436core:Vehicles2021-03-3101476436core:FurnitureFittings2021-03-3101476436core:OfficeEquipment2021-03-3101476436core:AfterOneYear2021-03-3101476436core:WithinOneYear2021-03-3101476436core:ListedExch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Registered Number
01476436
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

NETWORK DISTRIBUTING LIMITED

Company Information
for the year from 1 April 2021 to 31 March 2022


Directors	LACK, Jonathan Anthony James
	VELOZA VARGAS, Juan


Registered Address	Unit 20 Berghem Mews
	Blythe Road
	London
	W14 0HN


Registered Number	01476436 (England and Wales)

NETWORK DISTRIBUTING LIMITED

Balance Sheet as at
31 March 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Intangible assets	6		50,721		75,494
Tangible assets	7		129,039		123,644
Investments	8		525,293		250,000
			705,053		449,138
Current assets
Stocks	9	2,960,248		3,005,761
Debtors	10	4,082,134		4,447,588
Cash at bank and on hand		39,151		147,618
		7,081,533		7,600,967
Creditors amounts falling due within one year	11	(3,544,781)		(3,049,429)
Net current assets (liabilities)			3,536,752		4,551,538
Total assets less current liabilities			4,241,805		5,000,676
Creditors amounts falling due after one year	12		(35,000)		(450,000)
Net assets			4,206,805		4,550,676
Capital and reserves
Called up share capital			410,001		410,001
Share premium			7,494,282		7,494,282
Profit and loss account			(3,697,478)		(3,353,607)
Shareholders' funds			4,206,805		4,550,676

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 31 March 2023, and are signed on its behalf by:

LACK, Jonathan Anthony James
Director
Registered Company No. 01476436

NETWORK DISTRIBUTING LIMITED

Notes to the Financial Statements
for the year ended 31 March 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principle activity of the company is DVD authoring and wholesaling.

4.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	5

	Intangible assets policy
	Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

5.	Employee information


		2022		2021
	Average number of employees during the year	20		20

6.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 21	213,978	213,978
Additions	1,290	1,290
At 31 March 22	215,268	215,268
Amortisation and impairment
At 01 April 21	138,484	138,484
Charge for year	26,063	26,063
At 31 March 22	164,547	164,547
Net book value
At 31 March 22	50,721	50,721
At 31 March 21	75,494	75,494

7.	Property, plant and equipment

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 21	284,916	467,103	735,931	1,487,950
Additions	-	-	75,055	75,055
At 31 March 22	284,916	467,103	810,986	1,563,005
Depreciation and impairment
At 01 April 21	270,010	450,845	643,451	1,364,306
Charge for year	14,906	13,788	40,966	69,660
At 31 March 22	284,916	464,633	684,417	1,433,966
Net book value
At 31 March 22	-	2,470	126,569	129,039
At 31 March 21	14,906	16,258	92,480	123,644

8.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 21	250,000	250,000
Additions	275,293	275,293
At 31 March 22	525,293	525,293
Net book value
At 31 March 22	525,293	525,293
At 31 March 21	250,000	250,000

	Notes
	¹Other investments other than loans

9.	Stocks

	2022	2021
	£	£
Other stocks	2,960,248	3,005,761
Total	2,960,248	3,005,761

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	659,319	673,867
Other debtors	89,457	50,972
Prepayments and accrued income	3,333,358	3,722,749
Total	4,082,134	4,447,588


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	974,489	980,692
Bank borrowings and overdrafts	458,329	30,443
Taxation and social security	686,805	625,001
Finance lease and HP contracts	8,357	5,104
Cumulative preference share dividends unpaid	700,000	700,000
Other creditors	527,123	582,313
Accrued liabilities and deferred income	189,678	125,876
Total	3,544,781	3,049,429


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

12.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	35,000	450,000
Total	35,000	450,000