Invoicenet Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 13294847

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	10		10
Cash at bank and in hand		970		4,356

		980		4,366
Creditors: Amounts Falling Due Within One Year	5	(5,079 )		(5,000 )

NET CURRENT ASSETS (LIABILITIES)			(4,099 )		(634 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,099 )		(634 )

NET LIABILITIES			(4,099 )		(634 )

CAPITAL AND RESERVES
Called up share capital	6		10		10
Profit and Loss Account			(4,109 )		(644 )

SHAREHOLDERS' FUNDS			(4,099)		(634)

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr G A Goodwille

Director

22/08/2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Invoicenet Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13294847 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Though the Company is operating at a loss, the Director has a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Director has considered a letter of support from its majority shareholders stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.

2.3. 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 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.

2.4. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.5. Debtors

Basic financial assets, including other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

2.6. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Invoicenet Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2.9. Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other

resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)

4. Debtors

	2024	2023
	£	£
Due within one year
Called up share capital not paid	10	10

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	79	-
Amounts owed to related parties	5,000	5,000

	5,079	5,000

6. Share Capital

	2024	2023
	£	£
Called Up Share Capital not Paid	10	10

Amount of Allotted, Called Up Share Capital	10	10

7. Dividends

There were no dividends paid or proposed in the current or prior year.

8. Related Party Transactions

Agora Holdings Limited

20% shareholder

The company has a loan outstanding from Agora Holdings Limited of £1,000. This loan is repayable on demand, no interest has been charged.

Invoice Club AS

80% shareholder

The company has a loan outstanding from Invoice Club AS of £4,000. This loan is repayable on demand, no interest has been charged.

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Invoicenet Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Controlling Party

The company's controlling party is Invoice Club AS by virtue of their ownership of 80% of the issued share capital in the company.

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