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REGISTERED NUMBER: 05390640 (England and Wales)












Internet For Everything Limited

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2024






Internet For Everything Limited (Registered number: 05390640)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company information 1

Report of the directors 2

Income statement 4

Balance sheet 5

Statement of changes in equity 7

Notes to the financial statements 8


Internet For Everything Limited

Company Information
for the Year Ended 31 December 2024







Directors: K Pritchard
C A Smith





Secretary: C A Smith





Registered office: Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ





Registered number: 05390640 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Internet For Everything Limited (Registered number: 05390640)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Principal activity
The principal activity of the company in the year under review was that of the provision of Cloud Services to businesses and organisations.

Review of business
I am pleased to present the financial statements for Internet for Everything Limited for the year ended 31 December 2024. This year marks a significant turning point for our business as we transitioned from a challenging 2023 into a year of strong financial recovery, operational improvements, and strategic progress.

Financial Performance

The company achieved a solid revenue growth of 8.9%, with turnover increasing to £1.56 million, compared to £1.43 million in the prior year. This growth was driven by our ongoing efforts to migrate customers to a new cloud-based platform, enabling us to enhance our service offerings and build a more scalable business model.

One of the most notable achievements this year has been the substantial improvement in profitability. In 2023, the company reported a loss of £62,665. However, through a combination of strategic cost reductions, improved gross margins, and stronger recurring revenue, we have successfully delivered a profit of £199,963 in 2024. Our gross profit margin increased to 27.8% (from 22.8% in 2023), reflecting the benefits of our pricing adjustments and operational efficiencies.

Operational Highlights

Throughout 2024, we focused on improving our cost structure while investing in future growth:

- Successfully transitioned to the Microsoft Cloud, reducing infrastructure costs and increasing service agility.
- Strengthened our sales pipeline through enhanced marketing efforts and a revitalised sales team.
- Continued investment in automation and upskilling, ensuring our team remains at the forefront of technological advancements.
- Improved cash flow management, reducing debtor days to 95 days and creditor days to 72 days, demonstrating better working capital efficiency.

Financial Strength and Stability

Our liquidity position remains strong, with a current ratio of 3.6 (vs. 2.7 in 2023), indicating a robust ability to meet short-term obligations. The company's debt-to-equity ratio improved to 0.38 (down from 0.58 in 2023), showcasing reduced financial risk and a more stable capital structure. These improvements provide a solid foundation for sustainable growth in the coming years.

Looking Ahead

As we move into 2025, our focus remains on:

- Expanding our managed services offerings to drive higher-value customer contracts.
- Leveraging cloud-based solutions to enhance operational efficiencies and scalability.
- Further improving profitability, with an emphasis on increasing average revenue per customer.

The progress we have made this year positions Internet for Everything Limited for continued success. I would like to extend my sincere gratitude to our employees, customers, and stakeholders for their dedication and support.


Internet For Everything Limited (Registered number: 05390640)

Report of the Directors
for the Year Ended 31 December 2024

With a strengthened financial position and a clear strategic vision, I am confident that we are on the right path to sustained growth and long-term v

Directors
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

K Pritchard
C A Smith

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





C A Smith - Director


7 March 2025

Internet For Everything Limited (Registered number: 05390640)

Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

Turnover 3 1,559,844 1,432,944

Cost of sales 1,126,006 1,106,887
Gross profit 433,838 326,057

Administrative expenses 287,714 386,207
146,124 (60,150 )

Other operating income 57,907 -
Operating profit/(loss) 5 204,031 (60,150 )

Interest receivable and similar income 1,383 4,232
205,414 (55,918 )

Interest payable and similar expenses 2,997 6,747
Profit/(loss) before taxation 202,417 (62,665 )

Tax on profit/(loss) 6 2,454 -
Profit/(loss) for the financial year 199,963 (62,665 )

Internet For Everything Limited (Registered number: 05390640)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
Fixed assets
Tangible assets 7 6,648 1,424

Current assets
Debtors 8 846,150 838,477
Cash at bank 208,673 162,526
1,054,823 1,001,003
Creditors
Amounts falling due within one year 9 293,350 366,269
Net current assets 761,473 634,734
Total assets less current liabilities 768,121 636,158

Capital and reserves
Called up share capital 10 25,000 25,000
Share premium 5,000 5,000
Retained earnings 738,121 606,158
Shareholders' funds 768,121 636,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Internet For Everything Limited (Registered number: 05390640)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





C A Smith - Director


Internet For Everything Limited (Registered number: 05390640)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 January 2023 25,000 847,443 5,000 877,443

Changes in equity
Dividends - (178,620 ) - (178,620 )
Total comprehensive income - (62,665 ) - (62,665 )
Balance at 31 December 2023 25,000 606,158 5,000 636,158

Changes in equity
Dividends - (68,000 ) - (68,000 )
Total comprehensive income - 199,963 - 199,963
Balance at 31 December 2024 25,000 738,121 5,000 768,121

Internet For Everything Limited (Registered number: 05390640)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. Statutory information

Internet For Everything 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - at varying rates on cost

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Turnover

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

4. Employees and directors

The average number of employees during the year was 10 (2023 - 15 ) .

31.12.24 31.12.23
£    £   
Directors' remuneration 25,140 25,140

Internet For Everything Limited (Registered number: 05390640)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. Operating profit/(loss)

The operating profit (2023 - operating loss) is stated after charging:

31.12.24 31.12.23
£    £   
Depreciation - owned assets 4,353 2,157

6. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 2,454 -
Tax on profit/(loss) 2,454 -

7. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 January 2024 1,004,322
Additions 9,577
At 31 December 2024 1,013,899
Depreciation
At 1 January 2024 1,002,898
Charge for year 4,353
At 31 December 2024 1,007,251
Net book value
At 31 December 2024 6,648
At 31 December 2023 1,424

Internet For Everything Limited (Registered number: 05390640)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. Debtors: amounts falling due within one year
31.12.24 31.12.23
£    £   
Trade debtors 406,058 400,377
Amounts owed by group
undertakings 437,500 437,500
Other debtors - 600
Prepayments 2,592 -
846,150 838,477

9. Creditors: amounts falling due within one year
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 25,665 34,723
Trade creditors 220,609 264,966
Corporation tax 2,454 -
Social security and other taxes 16,210 7,494
Other creditors 1,593 1,961
Accruals and deferred income 26,819 57,125
293,350 366,269

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10,000 Ordinary "A" £1 10,000 10,000
10,000 Ordinary "B" £1 10,000 10,000
5,000 Ordinary "C" £1 5,000 5,000
25,000 25,000

11. Ultimate controlling party

The controlling party is IFE Hosting Limited.