IRIS Accounts Production v25.1.3.33 07722061 director 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077220612023-08-31077220612024-08-31077220612023-09-012024-08-31077220612022-08-31077220612022-09-012023-08-31077220612023-08-3107722061ns15:EnglandWales2023-09-012024-08-3107722061ns14:PoundSterling2023-09-012024-08-3107722061ns10:Director12023-09-012024-08-3107722061ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3107722061ns10:SmallEntities2023-09-012024-08-3107722061ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3107722061ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3107722061ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3107722061ns10:FullAccounts2023-09-012024-08-3107722061ns10:OrdinaryShareClass12023-09-012024-08-3107722061ns10:RegisteredOffice2023-09-012024-08-3107722061ns5:CurrentFinancialInstruments2024-08-3107722061ns5:CurrentFinancialInstruments2023-08-3107722061ns5:ShareCapital2024-08-3107722061ns5:ShareCapital2023-08-3107722061ns5:RetainedEarningsAccumulatedLosses2024-08-3107722061ns5:RetainedEarningsAccumulatedLosses2023-08-3107722061ns5:ComputerEquipment2023-09-012024-08-3107722061ns5:ComputerEquipment2023-08-3107722061ns5:ComputerEquipment2024-08-3107722061ns5:ComputerEquipment2023-08-3107722061ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3107722061ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3107722061ns10:OrdinaryShareClass12024-08-3107722061ns5:RetainedEarningsAccumulatedLosses2023-08-3107722061ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-31
REGISTERED NUMBER: 07722061 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

IPNET LTD

IPNET LTD (REGISTERED NUMBER: 07722061)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IPNET LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: A Burgin





REGISTERED OFFICE: Offices 3 & 4 The Meadows
Church Road
Dodleston
Chester
Cheshire
CH4 9NG





REGISTERED NUMBER: 07722061 (England and Wales)





ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT

IPNET LTD (REGISTERED NUMBER: 07722061)

BALANCE SHEET
31ST AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,664 4,595

CURRENT ASSETS
Debtors 5 2,185 12,337
Cash at bank 73,837 159,533
76,022 171,870
CREDITORS
Amounts falling due within one year 6 35,664 129,585
NET CURRENT ASSETS 40,358 42,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,022

46,880

CAPITAL AND RESERVES
Called up share capital 7 500 500
Retained earnings 8 43,522 46,380
SHAREHOLDERS' FUNDS 44,022 46,880

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th May 2025 and were signed by:





A Burgin - Director


IPNET LTD (REGISTERED NUMBER: 07722061)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

IPNET 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 1 (2023 - 1 ) .

IPNET LTD (REGISTERED NUMBER: 07722061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st September 2023 10,154
Additions 291
At 31st August 2024 10,445
DEPRECIATION
At 1st September 2023 5,559
Charge for year 1,222
At 31st August 2024 6,781
NET BOOK VALUE
At 31st August 2024 3,664
At 31st August 2023 4,595

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors - 4,800
Other debtors 2,185 3,556
Directors' current accounts - 3,981
2,185 12,337

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 502 -
Tax 24,180 127,648
VAT 9,523 -
Other creditors - 837
Directors' current accounts 159 -
Accrued expenses 1,300 1,100
35,664 129,585

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
500 Ordinary £1 500 500

IPNET LTD (REGISTERED NUMBER: 07722061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

8. RESERVES
Retained
earnings
£   

At 1st September 2023 46,380
Profit for the year 80,142
Dividends (83,000 )
At 31st August 2024 43,522

9. CAPITAL COMMITMENTS
31.8.24 31.8.23
£    £   
Contracted but not provided for in the
financial statements - -

10. ULTIMATE CONTROLLING PARTY

The controlling party is A Burgin.