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S-NET.CO.UK LIMITED

Unaudited Financial Statements

for the Year Ended 30th November 2023






S-NET.CO.UK LIMITED (REGISTERED NUMBER: 04923073)






Contents of the Financial Statements
for the year ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S-NET.CO.UK LIMITED

Company Information
for the year ended 30th November 2023







DIRECTOR: P E Potter-Hayes





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 04923073 (England and Wales)






S-NET.CO.UK LIMITED (REGISTERED NUMBER: 04923073)

Balance Sheet
30th November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 194,361 194,361
Tangible assets 5 255 461
Investments 6 1,330 1,330
195,946 196,152

CURRENT ASSETS
Debtors 7 - 80

CREDITORS
Amounts falling due within one year 8 135,528 133,002
NET CURRENT LIABILITIES (135,528 ) (132,922 )
TOTAL ASSETS LESS CURRENT LIABILITIES 60,418 63,230

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings (9,582 ) (6,770 )
SHAREHOLDERS' FUNDS 60,418 63,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th August 2024 and were signed by:



P E Potter-Hayes - Director


S-NET.CO.UK LIMITED (REGISTERED NUMBER: 04923073)

Notes to the Financial Statements
for the year ended 30th November 2023

1. STATUTORY INFORMATION

S-Net.Co.Uk Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

- Useful economic life and residual value of tangible fixed assets.
- Useful economic life of intangible fixed assets.

Intangible assets
Intangible assets are recognised at fair value and have been amortised over 10 years. At 30 November 2017, the director has assessed the useful economic life of the asset and considers there to still be 9 years useful economic life remaining and as such, no amortisation has been recognised in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

S-NET.CO.UK LIMITED (REGISTERED NUMBER: 04923073)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of loans from banks and other third parties.

Finance costs
Finance costs are charged to the income statement and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these accounts. The director has reasonable expectation that the company can continue to meet it's liabilities as they fall due. Based on the above, the director believes it is appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st December 2022
and 30th November 2023 215,957
AMORTISATION
At 1st December 2022
and 30th November 2023 21,596
NET BOOK VALUE
At 30th November 2023 194,361
At 30th November 2022 194,361

S-NET.CO.UK LIMITED (REGISTERED NUMBER: 04923073)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2022
and 30th November 2023 5,324 30,539 35,863
DEPRECIATION
At 1st December 2022 5,226 30,176 35,402
Charge for year 25 181 206
At 30th November 2023 5,251 30,357 35,608
NET BOOK VALUE
At 30th November 2023 73 182 255
At 30th November 2022 98 363 461

6. FIXED ASSET INVESTMENTS
Loans to
joint
ventures
£   
At 1st December 2022
and 30th November 2023 1,330

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 80

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,852 4,509
Trade creditors 146 83
Other creditors 130,530 128,410
135,528 133,002

9. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £128,387 (2022 - £126,267) owed to Mrs P E Potter-Hayes, a director of the business.