Company No: 03155221 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Andrew James Bentinck

REGISTERED OFFICE	6 King William House
	The Causeway Burwell
	Cambridge
	CB25 0DU
	United Kingdom

COMPANY NUMBER

03155221 (England and Wales)

CHARTERED ACCOUNTANTS	Gascoynes
	Gascoyne House
	Moseleys Farm Business Centre
	Fornham All Saints
	Bury St Edmunds
	Suffolk
	IP28 6JY

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	729		916
Tangible assets	4	190,344		186,962
		191,073		187,878
Current assets
Debtors	5	468,631		654,623
Cash at bank and in hand		24,782		79,383
		493,413		734,006
Creditors: amounts falling due within one year	6	( 275,468)		( 324,772)
Net current assets		217,945		409,234
Total assets less current liabilities		409,018		597,112
Creditors: amounts falling due after more than one year	7	( 29,166)		( 79,167)
Net assets		379,852		517,945
Capital and reserves
Called-up share capital	8	11,652		11,652
Share premium account		76,930		76,930
Profit and loss account		291,270		429,363
Total shareholders' funds		379,852		517,945

For the financial 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.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Flynet Limited (registered number: 03155221) were approved and authorised for issue by the Director on 29 September 2025. They were signed on its behalf by:

Andrew James Bentinck Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Flynet Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 King William House, The Causeway Burwell, Cambridge, CB25 0DU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Vehicles	4 years straight line
Fixtures and fittings	3 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	9		9

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	1,876		1,876
At 31 December 2024	1,876		1,876
Accumulated amortisation
At 01 January 2024	960		960
Charge for the financial year	187		187
At 31 December 2024	1,147		1,147
Net book value
At 31 December 2024	729		729
At 31 December 2023	916		916

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	182,472		38,974		31,244		127,400		380,090
Additions	0		0		1,105		6,354		7,459
At 31 December 2024	182,472		38,974		32,349		133,754		387,549
Accumulated depreciation
At 01 January 2024	0		38,974		30,778		123,376		193,128
Charge for the financial year	0		0		598		3,479		4,077
At 31 December 2024	0		38,974		31,376		126,855		197,205
Net book value
At 31 December 2024	182,472		0		973		6,899		190,344
At 31 December 2023	182,472		0		466		4,024		186,962

5. Debtors

	2024		2023
	£		£
Trade debtors	206,674		326,170
Amounts owed by Group undertakings	34,000		40,000
Deferred tax asset	74,907		49,855
Corporation tax	46,649		96,361
Other debtors	106,401		142,237
	468,631		654,623

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	50,000		50,000
Other taxation and social security	10,118		17,873
Other creditors	215,350		256,899
	275,468		324,772

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	29,166		79,167

There are 2 charges held over the companies fixed and floating assets .

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100,000,000 A ordinary shares of £ 0.0001 each	10,000		10,000
6,850,000 C ordinary shares of £ 0.0001 each	685		685
9,012,250 B ordinary shares of £ 0.0001 each	901		901
656,600 D ordinary shares of £ 0.0001 each	66		66
	11,652		11,652

9. Related party transactions

Transactions with the entity's director

At the year end the directors loan account was overdrawn by £30,999.31 and this was repaid by dividend within 9 months of the year end.