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REGISTERED NUMBER: 06681996 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Technet Services Ltd

Technet Services Ltd (Registered number: 06681996)

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


Technet Services Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr S Dhillon





REGISTERED OFFICE: 28 Aster Way
Walsall
WS5 4RX





REGISTERED NUMBER: 06681996 (England and Wales)






Technet Services Ltd (Registered number: 06681996)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 624 833

CURRENT ASSETS
Debtors 5 - 2,700
Cash at bank 280,775 240,167
280,775 242,867
CREDITORS
Amounts falling due within one year 6 (39,262 ) (32,378 )
NET CURRENT ASSETS 241,513 210,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,137

211,322

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 242,037 211,222
SHAREHOLDERS' FUNDS 242,137 211,322

Technet Services Ltd (Registered number: 06681996)

Balance Sheet - continued
31 August 2024


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.

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 22 May 2025 and were signed by:





Mr S Dhillon - Director


Technet Services Ltd (Registered number: 06681996)

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


1. STATUTORY INFORMATION

Technet Services Ltd 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery 25 % reducing balance

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.


Technet Services Ltd (Registered number: 06681996)

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


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 6,523
DEPRECIATION
At 1 September 2023 5,690
Charge for year 209
At 31 August 2024 5,899
NET BOOK VALUE
At 31 August 2024 624
At 31 August 2023 833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors - 2,700

Technet Services Ltd (Registered number: 06681996)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Tax 19,965 19,418
Social security and other taxes (1,157 ) -
VAT 5,137 4,839
Directors' current accounts 14,717 7,396
Accrued expenses 600 725
39,262 32,378

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary 1 100 100