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REGISTERED NUMBER: 05155980 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Computanet Solutions Limited

Computanet Solutions Limited (Registered number: 05155980)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Computanet Solutions Limited

Company Information
for the year ended 31 August 2024







DIRECTOR: A Lutkin





REGISTERED OFFICE: Unit 7C Priory Tec Park
Saxon Way
Hessle
HU13 9PB





REGISTERED NUMBER: 05155980 (England and Wales)





ACCOUNTANTS: Marshall & Co
Chartered Accountants
& Chartered Tax Advisers
The Bloc
Springfield Way
Anlaby
Kingston upon Hull
East Yorkshire
HU10 6RJ

Computanet Solutions Limited (Registered number: 05155980)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 16,974 19,708
Tangible assets 5 19,148 23,094
36,122 42,802

CURRENT ASSETS
Stocks 3,957 3,487
Debtors 6 86,907 90,808
Cash at bank and in hand 154,548 226,915
245,412 321,210
CREDITORS
Amounts falling due within one year 7 76,061 191,745
NET CURRENT ASSETS 169,351 129,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,473

172,267

PROVISIONS FOR LIABILITIES 3,638 4,388
NET ASSETS 201,835 167,879

CAPITAL AND RESERVES
Called up share capital 30,002 30,002
Retained earnings 171,833 137,877
SHAREHOLDERS' FUNDS 201,835 167,879

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

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

The director acknowledges his 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.

Computanet Solutions Limited (Registered number: 05155980)

Balance Sheet - continued
31 August 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 director and authorised for issue on 14 May 2025 and were signed by:





A Lutkin - Director


Computanet Solutions Limited (Registered number: 05155980)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Computanet Solutions 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 discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty five years.

Patents and licences
Patents and licences, being the amount paid in connection with the acquisition of software licenses, are being amortised over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 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.

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.

Computanet Solutions Limited (Registered number: 05155980)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


2. ACCOUNTING POLICIES - continued

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 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 68,359 50,000 118,359
AMORTISATION
At 1 September 2023 48,651 50,000 98,651
Charge for year 2,734 - 2,734
At 31 August 2024 51,385 50,000 101,385
NET BOOK VALUE
At 31 August 2024 16,974 - 16,974
At 31 August 2023 19,708 - 19,708

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 8,487 76,497 59,690 68,240 212,914
Additions 2,364 319 - - 2,683
At 31 August 2024 10,851 76,816 59,690 68,240 215,597
DEPRECIATION
At 1 September 2023 5,597 64,656 51,922 67,645 189,820
Charge for year 1,207 3,003 1,942 477 6,629
At 31 August 2024 6,804 67,659 53,864 68,122 196,449
NET BOOK VALUE
At 31 August 2024 4,047 9,157 5,826 118 19,148
At 31 August 2023 2,890 11,841 7,768 595 23,094

Computanet Solutions Limited (Registered number: 05155980)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,436 87,765
Other debtors 4,471 3,043
86,907 90,808

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,643 86,729
Taxation and social security 42,436 42,844
Other creditors 10,982 62,172
76,061 191,745