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REGISTERED NUMBER: 04119344 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 March 2024

for

ON2NET (UK) LIMITED

ON2NET (UK) LIMITED (REGISTERED NUMBER: 04119344)






Contents of the Financial Statements
for the Year Ended 30 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ON2NET (UK) LIMITED

Company Information
for the Year Ended 30 March 2024







DIRECTORS: J Georgiou
H J Boys



SECRETARY: Mrs A Georgiou



REGISTERED OFFICE: 573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



REGISTERED NUMBER: 04119344 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: Barclays Bank PLC
Market Square
Stafford
ST16 2BE

ON2NET (UK) LIMITED (REGISTERED NUMBER: 04119344)

Statement of Financial Position
30 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 110,000 120,000
Tangible assets 5 4,639 6,185
114,639 126,185

CURRENT ASSETS
Stocks 7,988 7,054
Debtors 6 414,815 407,256
Cash at bank 467,430 385,221
890,233 799,531
CREDITORS
Amounts falling due within one year 7 142,664 135,197
NET CURRENT ASSETS 747,569 664,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

862,208

790,519

CREDITORS
Amounts falling due after more than one
year

8

11,667

21,667
NET ASSETS 850,541 768,852

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 849,541 767,852
SHAREHOLDERS' FUNDS 850,541 768,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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.

ON2NET (UK) LIMITED (REGISTERED NUMBER: 04119344)

Statement of Financial Position - continued
30 March 2024


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 Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





J Georgiou - Director


ON2NET (UK) LIMITED (REGISTERED NUMBER: 04119344)

Notes to the Financial Statements
for the Year Ended 30 March 2024

1. STATUTORY INFORMATION

On2Net (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.

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 represents net invoiced sales of goods & services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 March 2023
and 30 March 2024 200,000
AMORTISATION
At 31 March 2023 80,000
Amortisation for year 10,000
At 30 March 2024 90,000
NET BOOK VALUE
At 30 March 2024 110,000
At 30 March 2023 120,000

ON2NET (UK) LIMITED (REGISTERED NUMBER: 04119344)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 31 March 2023
and 30 March 2024 27,600 11,402 39,002
DEPRECIATION
At 31 March 2023 22,102 10,715 32,817
Charge for year 1,375 171 1,546
At 30 March 2024 23,477 10,886 34,363
NET BOOK VALUE
At 30 March 2024 4,123 516 4,639
At 30 March 2023 5,498 687 6,185

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,061 101,304
Other debtors 303,754 305,952
414,815 407,256

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,200 7,942
Taxation and social security 26,810 20,098
Other creditors 99,654 107,157
142,664 135,197

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 11,667 21,667

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Georgiou.