Company registration number 03743485 (England and Wales)
LOCALLNET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
LOCALLNET LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LOCALLNET LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,365
12,262
Current assets
Debtors
5
4,089
6,363
Cash at bank and in hand
42,681
61,740
46,770
68,103
Creditors: amounts falling due within one year
6
(23,489)
(26,332)
Net current assets
23,281
41,771
Total assets less current liabilities
32,646
54,033
Creditors: amounts falling due after more than one year
7
(4,250)
(11,159)
Net assets
28,396
42,874
Capital and reserves
Called up share capital
8
875
875
Capital redemption reserve
325
325
Profit and loss reserves
27,196
41,674
Total equity
28,396
42,874
LOCALLNET LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 July 2026
S. Gallagher
Director
Company registration number 03743485 (England and Wales)
LOCALLNET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Locallnet Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suites C,D,E, & F, 14th Floor The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of an entity over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance basis
Computers
15% reducing balance basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LOCALLNET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
50,000
Amortisation and impairment
At 1 April 2025 and 31 March 2026
50,000
Carrying amount
At 31 March 2026
-
0
At 31 March 2025
-
0
LOCALLNET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2025 and 31 March 2026
13,729
951
14,995
29,675
Depreciation and impairment
At 1 April 2025
11,547
477
5,389
17,413
Depreciation charged in the year
424
71
2,402
2,897
At 31 March 2026
11,971
548
7,791
20,310
Carrying amount
At 31 March 2026
1,758
403
7,204
9,365
At 31 March 2025
2,182
474
9,606
12,262
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
3,520
1,792
Corporation tax recoverable
569
4,571
4,089
6,363
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
6,698
9,000
Trade creditors
2,807
2,000
Taxation and social security
6,441
7,347
Other creditors
7,543
7,985
23,489
26,332
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
4,250
11,159
LOCALLNET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
275
275
275
275
Ordinary B of £1 each
400
400
400
400
Ordinary C of £1 each
100
100
100
100
Ordinary D of £1 each
100
100
100
100
875
875
875
875
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