2024-02-162025-02-282025-02-28false15494062WI-NET CONNECT 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WI-NET CONNECT LTD

Registered Number
15494062
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2025

WI-NET CONNECT LTD
Company Information
for the period from 16 February 2024 to 28 February 2025

Directors

GALL, Brittany
MCDONNELL, Simon

Registered Address

85 Great Portland Street
First Floor
London
W1W 7LT

Registered Number

15494062 (England and Wales)
WI-NET CONNECT LTD
Balance Sheet as at
28 February 2025

Notes

2025

£

£

Fixed assets
Intangible assets44,223
Tangible assets56,986
11,209
Current assets
Debtors6,653
Cash at bank and on hand25,690
32,343
Creditors amounts falling due within one year6(16,239)
Net current assets (liabilities)16,104
Total assets less current liabilities27,313
Provisions for liabilities7(2,130)
Net assets25,183
Capital and reserves
Called up share capital90
Profit and loss account25,093
Shareholders' funds25,183
The financial statements were approved and authorised for issue by the Board of Directors on 7 April 2025, and are signed on its behalf by:
MCDONNELL, Simon
Director
Registered Company No. 15494062
WI-NET CONNECT LTD
Notes to the Financial Statements
for the period ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment20
2.Average number of employees

2025
Average number of employees during the year1
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets

Other

Total

££
Cost or valuation
Additions5,3355,335
At 28 February 255,3355,335
Amortisation and impairment
Charge for year1,1121,112
At 28 February 251,1121,112
Net book value
At 28 February 254,2234,223
At 15 February 24--
5.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
Additions-7,9847,984
At 28 February 25-7,9847,984
Depreciation and impairment
Charge for year998-998
At 28 February 25998-998
Net book value
At 28 February 25(998)7,9846,986
At 15 February 24---
6.Creditors: amounts due within one year

2025

£
Bank borrowings and overdrafts19
Taxation and social security16,220
Total16,239
7.Provisions for liabilities

2025

£
Net deferred tax liability (asset)2,130
Total2,130