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REGISTERED NUMBER: 06777778 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Health Net Connections Limited

Health Net Connections Limited (Registered number: 06777778)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Balance Sheet 1

Notes to the Financial Statements 2


Health Net Connections Limited (Registered number: 06777778)

Balance Sheet
31 March 2025

2025 2024
as restated
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 4,309
Tangible assets 5 63,136 105,642
Investments 6 2,113 2,113
65,249 112,064

CURRENT ASSETS
Debtors 7 2,155,091 3,969,414
Cash at bank and in hand 1,393,130 884,967
3,548,221 4,854,381
CREDITORS
Amounts falling due within one year 8 (3,579,419 ) (4,676,063 )
NET CURRENT (LIABILITIES)/ASSETS (31,198 ) 178,318
TOTAL ASSETS LESS CURRENT LIABILITIES 34,051 290,382

CAPITAL AND RESERVES
Called up share capital 210 210
Retained earnings 33,841 290,172
SHAREHOLDERS' FUNDS 34,051 290,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2025 and were signed on its behalf by:





J Raife - Director


Health Net Connections Limited (Registered number: 06777778)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Health Net Connections Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06777778

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Preparation of consolidated financial statements
The financial statements contain information about Health Net Connections Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 4 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Health Net Connections Limited (Registered number: 06777778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Share-based payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become
unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

Share-based payment transactions in which the company receives goods or services by incurring a liability to
transfer cash or other assets that is based on the price of the company's equity instruments are accounted for as cash-settled share-based payments. The fair value of the amount payable to employees is recognised as an expense, with a corresponding increase in liabilities, over the period in which the employees become
unconditionally entitled to payment. The liability is remeasured at each balance sheet date and at settlement date. Any changes in the fair value of the liability are recognised as personnel expense in profit or loss.

Shares issued in exchange for goods or services are recorded at the fair value of the goods or services received from the supplier.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2024 5,026
Disposals (5,026 )
At 31 March 2025 -
AMORTISATION
At 1 April 2024 717
Eliminated on disposal (717 )
At 31 March 2025 -
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 4,309

Health Net Connections Limited (Registered number: 06777778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2024 18,529 59,822 93,367
Additions - 6,369 -
Disposals - (57,154 ) (40,742 )
Exchange differences - - -
At 31 March 2025 18,529 9,037 52,625
DEPRECIATION
At 1 April 2024 11,870 48,051 77,792
Charge for year 3,329 2,260 5,247
Eliminated on disposal - (46,856 ) (36,802 )
Exchange differences - - -
At 31 March 2025 15,199 3,455 46,237
NET BOOK VALUE
At 31 March 2025 3,330 5,582 6,388
At 31 March 2024 6,659 11,771 15,575

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2024 55,516 75,713 302,947
Additions - 3,996 10,365
Disposals - (13,462 ) (111,358 )
Exchange differences (1,232 ) - (1,232 )
At 31 March 2025 54,284 66,247 200,722
DEPRECIATION
At 1 April 2024 22,399 37,193 197,305
Charge for year 8,714 12,812 32,362
Eliminated on disposal - (7,880 ) (91,538 )
Exchange differences (543 ) - (543 )
At 31 March 2025 30,570 42,125 137,586
NET BOOK VALUE
At 31 March 2025 23,714 24,122 63,136
At 31 March 2024 33,117 38,520 105,642

Health Net Connections Limited (Registered number: 06777778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2024
and 31 March 2025 10,502
DEPRECIATION
At 1 April 2024
and 31 March 2025 7,300
NET BOOK VALUE
At 31 March 2025 3,202
At 31 March 2024 3,202

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2024
and 31 March 2025 2,113
NET BOOK VALUE
At 31 March 2025 2,113
At 31 March 2024 2,113

Cost or valuation at 31 March 2025 is represented by:

Shares in
group
undertakings
£   
Cost 2,113

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
as restated
£    £   
Trade debtors 1,083,071 2,105,486
Amounts owed by related party 252,113 1,569,124
Other debtors 819,907 294,804
2,155,091 3,969,414

Health Net Connections Limited (Registered number: 06777778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
as restated
£    £   
Trade creditors 122,400 287,290
Amounts owed to related party - 2,113
Taxation and social security 347,427 503,939
Other creditors 3,109,592 3,882,721
3,579,419 4,676,063

9. OTHER FINANCIAL COMMITMENTS

Minimum lease payments under non-cancellable operating leases are £374,589 (2024: £61,358).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 31 March 2025 and 31 March 2024:

20252024
£   £   

Director 1
Amounts advanced20,36145,399
Amounts repaid(28,293)(61,148)

Director 2
Amounts advanced613,673553,421
Amounts repaid(62,500)(556,000)

The loan to the directors are repayable on demand. Interest is charged on loans at the official rate set by HMRC.