Modern Networks Limited
03881576
Some Concerns
- No accounts filed in last 18 months (-5)
- Going concern doubt noted in accounts (-10)
- 4 outstanding charges (-8)
Details
Compliance
Accounts
Confirmation statement
Industry
Officers
director · Since 13/11/2024
DIRECTOR
BRITISH · UNITED KINGDOM · Age 54
Also on 8 other boards
director · Since 28/03/2025
CHAIRMAN
BRITISH · UNITED KINGDOM · Age 60
Also on 8 other boards
director · Since 28/10/2025
DIRECTOR
BRITISH · UNITED KINGDOM · Age 54
Also on 9 other boards
Persons with Significant Control
Westgate Bidco Limited
Unit E2 18 Knowl Piece, Wilbury Way, Hitchin, SG4 0TY
Reg: 13127403 · Registrar Of Companies For England And Wales · Private Company Limited By Shares
Notified 01/04/2021
Former PSCs
Masa Capital Limited
Ceased 01/02/2017
Mr Matthew Charles Reeve
Ceased 01/04/2021
Mrs Sally Marianne Reeve
Ceased 01/04/2021
Charges4 outstanding
ELM CORPORATE CREDIT DESIGNATED ACTIVITY COMPANY AS SECURITY TRUSTEE FOR THE SECURED PARTIES
ELM CORPORATE CREDIT DESIGNATED ACTIVITY COMPANY AS SECURITY TRUSTEE FOR THE SECURED PARTIES
ELM CORPORATE CREDIT DESIGNATED ACTIVITY COMPANY AS SECURITY TRUSTEE FOR THE SECURED PARTIES
HORIZON CAPITAL LLP
HSBC BANK PLC
HSBC INVOICE FINANCE (UK) LTD ("THE SECURITY HOLDER")
HSBC BANK PLC
CLOSE INVOICE FINANCE LIMITED
HSBC BANK PLC
CompanyRankvs 2470+ SIC 62090 peers66
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How is this score calculated?
Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.
Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.
Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.
One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.
Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.
Risk deductions
Going concern doubt: -10 pts
Outstanding charges: -10 pts
Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.
Going Concern Doubt
we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are d
Key FinancialsYear ending 31/03/2021
Turnover
£13.2M
Annual revenue
Net Worth
£3.6M
Balance sheet strength
Cash
£2.6M
Cash in the bank
Profit Before Tax
£2.5M
Bottom line earnings
Net Current Assets
£2.6M
Working capital
Current Assets
£7.4M
Current Liabilities
£4.8M
Fixed Assets
£1.2M
Debtors
£4.7M
Cost of Sales
£8.0M
Gross Profit
£5.2M
Admin Expenses
£2.1M
Operating Profit
£2.5M
Profit After Tax
£2.1M
Tax at Year End
People Costs
Balance Sheet
EstimatesDerived
| Year | Current Ratio | Implied Profit |
|---|---|---|
| 2021 | 1.55 | +£1.4M |
| 2020 | 1.31 | +£1.2M |
| 2019 | 1.13 | — |
Derived from filed accounts. Not audited figures.