5 8 January 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 14313646 2023-08-01 2024-07-31 14313646 2024-07-31 14313646 2023-07-31 14313646 2022-08-23 2023-07-31 14313646 2023-07-31 14313646 2022-08-22 14313646 bus:Director1 2023-08-01 2024-07-31 14313646 core:WithinOneYear 2024-07-31 14313646 core:WithinOneYear 2023-07-31 14313646 core:ShareCapital 2024-07-31 14313646 core:ShareCapital 2023-07-31 14313646 core:RetainedEarningsAccumulatedLosses 2024-07-31 14313646 bus:SmallEntities 2023-08-01 2024-07-31 14313646 bus:Audited 2023-08-01 2024-07-31 14313646 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 14313646 bus:EntityHasNeverTraded 2023-08-01 2024-07-31 14313646 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14313646 bus:FullAccounts 2023-08-01 2024-07-31 14313646 core:Associate1 2023-08-01 2024-07-31 14313646 core:Associate1 2024-07-31
COMPANY REGISTRATION NUMBER: 14313646
i3NetZero Ltd
Filleted Financial Statements
For the year ended
31 July 2024
i3NetZero Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Current assets
Debtors
5
138,864
1,645
Cash at bank and in hand
6,672
49
---------
-------
145,536
1,694
Creditors: amounts falling due within one year
6
149,603
1,594
---------
-------
Net current (liabilities)/assets
( 4,067)
100
-------
----
Total assets less current liabilities
( 4,067)
100
-------
----
Net (liabilities)/assets
( 4,067)
100
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,167)
-------
----
Shareholders (deficit)/funds
( 4,067)
100
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
B W L Ames
Director
Company registration number: 14313646
i3NetZero Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Queen Square, Bristol, BS1 4JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: Nil).
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
117,319
51
Other debtors
21,545
1,594
---------
-------
138,864
1,645
---------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
129,310
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,594
Social security and other taxes
5,699
Other creditors
14,594
---------
-------
149,603
1,594
---------
-------
7. Summary audit opinion
The auditor's report dated 8 January 2025 was unqualified .
The senior statutory auditor was Andrew B Wilson BA CA , for and on behalf of Nelson Gilmour Smith .
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
i3Works Limited
( 9,510)
( 12,042)
-------
----
--------
----
Control:- The company was under the control of the directors throughout the period under review. Transactions:- During the year, in the normal course of business, the company received management services and advances from i3Works Ltd, an associated company, totalling £275,490 (2023: £nil) and provided management services of £285,000 (2023: £nil). The balance outstanding at the statement of financial position date was £12,042 (2023: £nil).
9. Controlling party
The company's ultimate parent undertaking is i3Capital Ltd , a company incorporated in England. The company's ultimate controlling party is G I Cameron, a director of the parent company, and majority shareholder of i3Capital Ltd.