NETWORK TREASURY SERVICES LIMITED

Company number

06424065

Status

Active

Incorporation

2007-11-12

Last accounts made up

2025-03-31

Account category

FULL

Primary SIC

64999

Hubs

UK Fintech

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period"). The Board has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future (being a period of at least twelve months after the date on which the Report and financial statements are signed). Loans from the parent undertaking will not be recalled in the foreseeable future, a letter of support has been received from Sovereign Network Group stating that further financial and any other support will be provided for the foreseeable future. For this reason, it continues to adopt the going concern basis in the financial statements.”

Significant events

• “On 31 March 2025 a Transfer of Engagements, conducted under section 110 of the Co-operative and Community Benefit Societies Act 2014, took place resulting in the statutory vesting of all the assets and liabilities of Sovereign Network Homes into Sovereign Housing Association Limited trading as Sovereign Network Group.”
• “On 1 April 2025 Sovereign Housing Association Limited legally changed its name to Sovereign Network Group.”
• “A gift aid distribution to the Intermediate parent undertaking of £127k was provided for this financial year (2024: £31k).”
• “As at 31 March 2025, four subsidiaries of SNG had net liabilities totalling £4.3m, representing -0.15% of SNG net assets. Loan agreements with two lenders include a clause noting that subsidiary entities should not have net liabilities. In order to address any potential risk the Company has after the balance sheet date obtained waivers from those two lenders which state that the lenders waive any breach that has or may have occurred or that may occur and therefore cannot be called in relation to the net liabilities now or in the future.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers