Registration number: 03170482

Micronet Technology Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Micronet Technology Limited

Company Information

Director

Mr VJ Migue

Company secretary

Mr VJ Migue

Registered office

8 High Street Heathfield East Sussex TN21 8LS

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Micronet Technology Limited

(Registration number: 03170482)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Other financial assets	5	129,163	129,186
Current assets
Debtors	6	-	926
Cash at bank and in hand		368,535	330,354
		368,535	331,280
Creditors: Amounts falling due within one year	7	(212,299)	(203,973)
Net current assets		156,236	127,307
Net assets		285,399	256,493
Capital and reserves
Called up share capital		100	100
Revaluation reserve		81,954	81,978
Retained earnings		203,345	174,415
Shareholders' funds		285,399	256,493

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2025
 

......................................... Mr VJ Migue Company secretary and director

Micronet Technology Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, Fittings & Equipment	33.33% Straight Line

Micronet Technology Limited

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

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

Micronet Technology Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	9,525	9,525
At 31 March 2025	9,525	9,525
Depreciation
At 1 April 2024	9,525	9,525
At 31 March 2025	9,525	9,525
Carrying amount
At 31 March 2025	-	-

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	129,186	129,186
Fair value adjustments	(23)	(23)
At 31 March 2025	129,163	129,163
Impairment
Carrying amount
At 31 March 2025	129,163	129,163

6

Debtors

	2025 £	2024 £
Taxation and social security	-	926
	-	926

Micronet Technology Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	8	55,200	55,200
Taxation and social security		7,086	-
Accruals and deferred income		800	800
Other creditors		1	11
Director loan account		149,212	147,962
		212,299	203,973

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Other borrowings	55,200	55,200