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REGISTERED NUMBER: 12413696 (England and Wales)















Unaudited Financial Statements

for the Period 1 February 2024 to 31 March 2025

for

ALTNET LTD

ALTNET LTD (REGISTERED NUMBER: 12413696)






Contents of the Financial Statements
for the period 1 February 2024 to 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALTNET LTD

Company Information
for the period 1 February 2024 to 31 March 2025







DIRECTOR: C J Tagg





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 12413696 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

ALTNET LTD (REGISTERED NUMBER: 12413696)

Balance Sheet
31 March 2025

2025 2024
Notes £ £
FIXED ASSETS
Intangible assets 4 743 405
Tangible assets 5 4,906 9,564
5,649 9,969

CURRENT ASSETS
Debtors 6 - 2,086
Cash at bank - 11,073
- 13,159
CREDITORS
Amounts falling due within one year 7 (5,648 ) (1,203 )
NET CURRENT (LIABILITIES)/ASSETS (5,648 ) 11,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

21,925

PROVISIONS FOR LIABILITIES 8 - (1,817 )
NET ASSETS 1 20,108

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings - 20,107
SHAREHOLDERS' FUNDS 1 20,108

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

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

ALTNET LTD (REGISTERED NUMBER: 12413696)

Balance Sheet - continued
31 March 2025


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 6 August 2025 and were signed by:





C J Tagg - Director


ALTNET LTD (REGISTERED NUMBER: 12413696)

Notes to the Financial Statements
for the period 1 February 2024 to 31 March 2025

1. STATUTORY INFORMATION

Altnet 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 represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of IT consultancy services is recognised at the point of sale.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark& Patents are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment33% on cost

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the period 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.


ALTNET LTD (REGISTERED NUMBER: 12413696)

Notes to the Financial Statements - continued
for the period 1 February 2024 to 31 March 2025

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 period 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.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern policy
The accounts are prepared on a basis other than that of a going concern. This is because the company has ceased trading on the 31st of March 2025.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 February 2024 440
Additions 440
At 31 March 2025 880
AMORTISATION
At 1 February 2024 35
Charge for period 102
At 31 March 2025 137
NET BOOK VALUE
At 31 March 2025 743
At 31 January 2024 405

ALTNET LTD (REGISTERED NUMBER: 12413696)

Notes to the Financial Statements - continued
for the period 1 February 2024 to 31 March 2025

5. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 February 2024
and 31 March 2025 14,668
DEPRECIATION
At 1 February 2024 5,104
Charge for period 4,658
At 31 March 2025 9,762
NET BOOK VALUE
At 31 March 2025 4,906
At 31 January 2024 9,564

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Other debtors - 2,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Taxation and social security 238 -
Other creditors 5,410 1,203
5,648 1,203

8. PROVISIONS FOR LIABILITIES
2025 2024
£ £
Deferred tax - 1,817

Deferred tax
£
Balance at 1 February 2024 1,817
Accelerated capital allowances
Balance at 31 March 2025 1,817

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
1 Ordinary £1 1 1