Salesnet Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03448845

Salesnet Limited

Filleted Unaudited Financial Statements

30 April 2025

Salesnet Limited

Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	639,237	476,312

Current assets

Debtors	5	33,653	1,360

Creditors: amounts falling due within one year	6	12,490	17,961
		--------	--------
Net current assets/(liabilities)		21,163	( 16,601)
		---------	---------
Total assets less current liabilities		660,400	459,711

Creditors: amounts falling due after more than one year	7	912,544	695,580
		---------	---------
Net liabilities		( 252,144)	( 235,869)
		---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 252,146)	( 235,871)
	---------	---------
Shareholders deficit	( 252,144)	( 235,869)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mrs S.J. Whittingham
Director

Company registration number: 03448845

Salesnet Limited

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle business Village, Station Road, Hampton, Middlesex, TW12 2BX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There was a net deficit of £252,144 at the statement of financial position date, however the directors have confirmed continued support and will ensure the company retains sufficient working capital to continue trading for the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Telephone Equipment	-	25% straight line
Computer Equipment	-	25% straight line
Furniture & Fittings	-	15% straight line
Office Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Freehold property	Short leasehold property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 May 2024	476,312	33,789	30,497	15,615	5,577	561,790
Additions	162,925	–	–	–	–	162,925
	---------	--------	--------	--------	-------	---------
At 30 Apr 2025	639,237	33,789	30,497	15,615	5,577	724,715
	---------	--------	--------	--------	-------	---------
Depreciation
At 1 May 2024 and 30 Apr 2025	–	33,789	30,497	15,615	5,577	85,478
	---------	--------	--------	--------	-------	---------
Carrying amount
At 30 Apr 2025	639,237	–	–	–	–	639,237
	---------	--------	--------	--------	-------	---------
At 30 Apr 2024	476,312	–	–	–	–	476,312
	---------	--------	--------	--------	-------	---------

The investment property is recognised at its original cost, the director considers this to be approximately market value.

5. Debtors

	2025	2024
	£	£
Other debtors	33,653	1,360
	--------	-------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,076	15,469
Other creditors	2,414	2,492
	--------	--------
	12,490	17,961
	--------	--------

The company has given a debenture secured over its assets to HSBC plc in respect of its overdraft facility.

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

	2025	2024
	£	£
Other creditors	912,544	695,580
	---------	---------

8. Related party transactions

Included in creditors due after one year is an amount of £912,544 (2024: £695,580) due to the Director. This amount is interest free and unsecured.

9. Controlling party

The company was controlled by S J Whittingham during the year. The director owns 100% of the issued share capital.