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Company Registration No. 05752267 (England and Wales)
Velnet Uk Limited Unaudited accounts for the year ended 31 May 2025
Velnet Uk Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Velnet Uk Limited Company Information for the year ended 31 May 2025
Director
Temitope Odurinde
Company Number
05752267 (England and Wales)
Registered Office
Suite Ra01 Suite Ra01 195 -197 Wood Street London E17 3NU England
Accountants
Taxez 5 South Charlotte Street Edinburgh EH2 4AN
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Velnet Uk Limited Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
5
16,720
22,293
Current assets
Inventories
-
2,280
Cash at bank and in hand
1,654
2,519
1,654
4,799
Creditors: amounts falling due within one year
6
(62,102)
(64,479)
Net current liabilities
(60,448)
(59,680)
Total assets less current liabilities
(43,728)
(37,387)
Creditors: amounts falling due after more than one year
7
(4,156)
(6,233)
Net liabilities
(47,884)
(43,620)
Capital and reserves
Called up share capital
2
2
Profit and loss account
(47,886)
(43,622)
Shareholders' funds
(47,884)
(43,620)
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 November 2025 and were signed on its behalf by
Temitope Odurinde Director Company Registration No. 05752267
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Velnet Uk Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Velnet Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 05752267. The registered office is Suite Ra01 Suite Ra01, 195 -197 Wood Street, London, E17 3NU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
£
Cost
At 1 June 2024
16,600
At 31 May 2025
16,600
Amortisation
At 1 June 2024
16,600
At 31 May 2025
16,600
Net book value
At 31 May 2025
-
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Velnet Uk Limited Notes to the Accounts for the year ended 31 May 2025
5
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 June 2024
40,788
At 31 May 2025
40,788
Depreciation
At 1 June 2024
18,495
Charge for the year
5,573
At 31 May 2025
24,068
Net book value
At 31 May 2025
16,720
At 31 May 2024
22,293
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
3,400
3,400
Trade creditors
4,030
4,030
Taxes and social security
(218)
(218)
Other creditors
4,142
4,142
Loans from directors
50,389
51,965
Accruals
359
1,160
62,102
64,479
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
4,156
6,233
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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