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
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
Velnet Uk Limited
Statement of financial position
as at 31 May 2025
Tangible assets
16,720
22,293
Cash at bank and in hand
1,654
2,519
Creditors: amounts falling due within one year
(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
(4,156)
(6,233)
Net liabilities
(47,884)
(43,620)
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
Velnet Uk Limited
Notes to the Accounts
for the year ended 31 May 2025
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Velnet Uk Limited
Notes to the Accounts
for the year ended 31 May 2025
5
Tangible fixed assets
Fixtures & fittings
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
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).