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REGISTERED NUMBER: 07181541 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NATIONWIDE IT CONSULTANCY LIMITED

NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NATIONWIDE IT CONSULTANCY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: M Darrah
G Mead





SECRETARY: M Darrah





REGISTERED OFFICE: Haseley Office Centre
Firs Lane
Haseley
Warwick
Warwickshire
CV35 7LS





REGISTERED NUMBER: 07181541 (England and Wales)






NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,740 19,263
Investments 5 84 84
Investment property 6 250,000 140,000
264,824 159,347

CURRENT ASSETS
Stocks 32,173 10,756
Debtors 1,197,493 758,235
Cash at bank 292,406 313,007
1,522,072 1,081,998
CREDITORS
Amounts falling due within one year 325,807 237,321
NET CURRENT ASSETS 1,196,265 844,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,461,089

1,004,024

CREDITORS
Amounts falling due after more than one
year

-

(68,269

)

PROVISIONS FOR LIABILITIES (27,485 ) (371 )
NET ASSETS 1,433,604 935,384

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 9 82,500 -
Retained earnings 1,350,904 935,184
SHAREHOLDERS' FUNDS 1,433,604 935,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

ABRIDGED BALANCE SHEET - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:




M Darrah - Director



G Mead - Director


NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Nationwide IT Consultancy 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 as modified by the revaluation of certain assets.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the prior year.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 25% straight line
Computer equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 98,159
Additions 1,486
At 31 March 2023 99,645
DEPRECIATION
At 1 April 2022 78,896
Charge for year 6,009
At 31 March 2023 84,905
NET BOOK VALUE
At 31 March 2023 14,740
At 31 March 2022 19,263

NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 43,776
Transfer to ownership (43,776 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 35,508
Charge for year 3,790
Transfer to ownership (39,298 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 8,268

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022
and 31 March 2023 84
NET BOOK VALUE
At 31 March 2023 84
At 31 March 2022 84

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 140,000
Revaluations 110,000
At 31 March 2023 250,000
NET BOOK VALUE
At 31 March 2023 250,000
At 31 March 2022 140,000

NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 110,000
Cost 140,000
250,000

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 6,418
Between one and five years - 3,076
- 9,494

Non-cancellable operating leases
2023 2022
£    £   
Within one year 35,212 19,712
Between one and five years 98,213 29,826
In more than five years 9,300 9,400
142,725 58,938

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 95,737

Natwest bank holds a charge over the freehold property Woodcock House, 10 Blackbushe Business Village, Yateley, Hampshire, GU46 6GA. This charge was satisfied during the yer, on 27 February 2023, upon settlement of the bank loan.

9. RESERVES
Fair
value
reserve
£   
Revaluation of property 82,500

At 31 March 2023 82,500

NATIONWIDE IT CONSULTANCY LIMITED (REGISTERED NUMBER: 07181541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

10. PENSION COMMITMENTS

As at the year end, there were no pension contributions outstanding for the current or prior year.