IRIS Accounts Production v26.1.0.640 07354439 Board of Directors 1.1.24 31.12.24 31.12.24 The principle activity of the company is that of hotel and conference centre services. 0 0 false true true false false true false 0 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07354439 2023-12-31 07354439 2024-12-31 07354439 2024-01-01 2024-12-31 07354439 2022-12-31 07354439 2023-01-01 2023-12-31 07354439 2023-12-31 07354439 ns15:EnglandWales 2024-01-01 2024-12-31 07354439 ns14:PoundSterling 2024-01-01 2024-12-31 07354439 ns10:Director1 2024-01-01 2024-12-31 07354439 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07354439 ns10:SmallEntities 2024-01-01 2024-12-31 07354439 ns10:Audited 2024-01-01 2024-12-31 07354439 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 07354439 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07354439 ns10:FullAccounts 2024-01-01 2024-12-31 07354439 ns10:Director2 2024-01-01 2024-12-31 07354439 ns10:Director3 2024-01-01 2024-12-31 07354439 ns10:Director4 2024-01-01 2024-12-31 07354439 ns10:RegisteredOffice 2024-01-01 2024-12-31 07354439 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 07354439 ns5:RetainedEarningsAccumulatedLosses 2022-12-31 07354439 ns5:CurrentFinancialInstruments 2024-12-31 07354439 ns5:CurrentFinancialInstruments 2023-12-31 07354439 ns5:ShareCapital 2024-12-31 07354439 ns5:ShareCapital 2023-12-31 07354439 ns5:CostValuation 2023-12-31 07354439 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 07354439 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31

REGISTERED NUMBER: 07354439 (England and Wales)

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| VYNETT LIMITED |

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 4 |

| Statement of Income and Retained Earnings | 8 |

| Statement of Financial Position | 9 |

| Notes to the Financial Statements | 10 |

| VYNETT LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | Z B Johari

| Mrs F B Mohamad Kunju

| M Z B Muda

| A N M B Mohd Zamri

| REGISTERED OFFICE: | 6 Hunting Gate

| Hitchin

| Herts

| SG4 0TJ

| REGISTERED NUMBER: | 07354439 (England and Wales)

| AUDITORS: | Bradshaw Johnson

| Chartered Accountants

| Statutory Auditor

| Croft Chambers

| 11 Bancroft

| Hitchin

| Hertfordshire

| SG5 1JQ

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Z B Johari

Mrs F B Mohamad Kunju

M Z B Muda

Other changes in directors holding office are as follows:

A N M B Mohd Zamri - appointed 10 October 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Bradshaw Johnson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A N M B Mohd Zamri - Director

20 February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

VYNETT LIMITED

Opinion

We have audited the financial statements of Vynett Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

With respect to cash and credit card catering and bar income for the year ended 31 December 2024, owing to the nature of the Company's records, we were unable to obtain sufficient appropriate audit evidence regarding the completeness, existence and accuracy of this revenue. Consequently we were unable to determine whether any adjustment was necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern

In forming our opinion on the financial statements, we have considered the adequacy of the disclosure made in note 2 in the financial statements concerning the Company's ability to continue as a going concern. The Company incurred a net loss of £20,150 during the year ended 31 December 2024 and, at that date, the Company's total liabilities exceeded its total assets by £5,092,404 and it has net current liabilities of £5,596,381.

These conditions indicate that financial support from the ultimate owner is required to enable the Company to continue trading. In addition, as the result of the global COVID-19 pandemic and the impact this has had on the UK hospitality sector, significant uncertainty over the continued viability of the trading operations of the business exist.

As stated in note 2, these events or conditions, along with the other matters as set forth in note 2, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company was unable to continue as a going concern. Our opinion is not modified in respect of this matter, and the circumstances noted above upon which the financial statements have been qualified do not impact on the Company's ability to continue as a going concern.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

VYNETT LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

Arising solely from the limitation on the scope of our work relating to Catering and Bar revenue, described above:

- we have not obtained all the audit information and explanations that we considered necessary for the purpose of our audit; and

- we do not consider that adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

VYNETT LIMITED

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We considered the nature of the Company's industry and its control environment, and reviewed the Company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the Company operates in, and identified the key laws and regulations that:

- had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK Companies Act and tax legislation; and

- do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team including relevant internal specialists such as tax specialists regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

- reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- enquiring of management and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and

- reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing correspondence with HMRC.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

VYNETT LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew D Pearce (Senior Statutory Auditor)

for and on behalf of Bradshaw Johnson

Chartered Accountants

Statutory Auditor

Croft Chambers

11 Bancroft

Hitchin

Hertfordshire

SG5 1JQ

21 February 2026

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

STATEMENT OF INCOME AND

RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2024

| 31.12.24 |  | 31.12.23

£ | £ |

TURNOVER | - |  | - |  |

Administrative expenses | 20,150 |  | 31,354 |  |

OPERATING LOSS | (20,150 | ) | (31,354 | ) |

Amounts written off investments | - |  | 163,871 |  |

LOSS BEFORE TAXATION | (20,150 | ) | (195,225 | ) |

Tax on loss | - |  | - |  |

LOSS FOR THE FINANCIAL YEAR | (20,150 | ) | (195,225 | ) |

Retained earnings at beginning of year | (5,051,224 | ) | (4,855,999 | ) |

RETAINED EARNINGS AT END OF YEAR | (5,071,374 | ) | (5,051,224 | ) |

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 503,977 |  | 525,107 |  |

CURRENT ASSETS

Debtors | 5 | 6,645,992 |  | 6,659,074 |  |

Cash at bank and in hand | 99 |  | 168 |  |

6,646,091 |  | 6,659,242 |  |

CREDITORS

Amounts falling due within one year | 6 | 12,242,472 |  | 12,235,473 |  |

NET CURRENT LIABILITIES | (5,596,381 | ) | (5,576,231 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (5,092,404 | ) | (5,051,124 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (5,092,504 | ) | (5,051,224 | ) |

SHAREHOLDERS' FUNDS | (5,092,404 | ) | (5,051,124 | ) |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2026 and were signed on its behalf by:

A N M B Mohd Zamri - Director

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Vynett Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements have been prepared on the going concern basis which assumes that the Company will continue in operational existence for a period of at least 12 months from the date of approval of these financial statements. The Company incurred a net loss of £41,280 during the year ended 31 December 2024 and, at that date, the Company's total liabilities exceeded its total assets by £5,092,404 and it has net current liabilities of £5,596,381.

| These conditions indicate that financial support from the ultimate owner, Mohd Muda, is required to enable the Company to continue trading. It has been confirmed that continued support for the Company will be provided for a period of at least 12 months from the approval of these financial statements through Zetro Services Sdn Bhd a Malaysian entity owned and controlled by Mohd Muda.

| The Directors are of the opinion that with the continued support of their ultimate owner and controlling party, the Company can meet its liabilities as they fall due.

| Preparation of consolidated financial statements

| The financial statements contain information about Vynett Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| VYNETT LIMITED (REGISTERED NUMBER: 07354439) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2023 - NIL).

4. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 1,810,001 |  |

| PROVISIONS

| At 1 January 2024 | 1,284,894 |  |

| Impairments | 21,130 |  |

| At 31 December 2024 | 1,306,024 |  |

| NET BOOK VALUE

| At 31 December 2024 | 503,977 |  |

| At 31 December 2023 | 525,107 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Amounts owed by group undertakings | 6,644,599 |  | 6,657,681 |  |

| Other debtors | 1,393 |  | 1,393 |  |

6,645,992 |  | 6,659,074 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade creditors | 108 |  | 109 |  |

| Amounts owed to group undertakings | 1,218,182 |  | 1,218,182 |  |

| Amounts owed to participating interests | 153,377 |  | 153,377 |  |

| Other creditors | 10,870,805 |  | 10,863,805 |  |

12,242,472 |  | 12,235,473 |  |