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Company Registration No. 08166026 (England and Wales)
PYCO IT SOLUTIONS LTD Unaudited accounts for the year ended 31 March 2023
PYCO IT SOLUTIONS LTD Unaudited accounts Contents
Page
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PYCO IT SOLUTIONS LTD Company Information for the year ended 31 March 2023
Director
Kamil Anwar
Company Number
08166026 (England and Wales)
Registered Office
22 Spindles Drive Rochdale OL11 3DW England
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PYCO IT SOLUTIONS LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,339 
2,477 
Investments
35,192 
35,074 
38,531 
37,551 
Current assets
Debtors
406,194 
260,194 
Cash at bank and in hand
1,568,922 
914,576 
1,975,116 
1,174,770 
Creditors: amounts falling due within one year
(72,843)
(34,719)
Net current assets
1,902,273 
1,140,051 
Net assets
1,940,804 
1,177,602 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,940,803 
1,177,601 
Shareholders' funds
1,940,804 
1,177,602 
For the year ending 31 March 2023 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 16 August 2023 and were signed on its behalf by
Kamil Anwar Director Company Registration No. 08166026
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PYCO IT SOLUTIONS LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
PYCO IT SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 08166026. The registered office is 22 Spindles Drive, Rochdale, OL11 3DW, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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:
Computer equipment
50% on straight line basis
Investments
Investments in shares are included at fair value.
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PYCO IT SOLUTIONS LTD Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2022
18,640 
Additions
3,624 
At 31 March 2023
22,264 
Depreciation
At 1 April 2022
16,163 
Charge for the year
2,762 
At 31 March 2023
18,925 
Net book value
At 31 March 2023
3,339 
At 31 March 2022
2,477 
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
35,074 
Fair value adjustments
118 
Valuation at 31 March 2023
35,192 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
980 
- 
Amounts falling due after more than one year
Other debtors
405,214 
260,194 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,758 
6,349 
Trade creditors
8,747 
5,996 
Taxes and social security
191,701 
31,611 
Other creditors
2,339 
- 
Loans from directors
(131,702)
(9,237)
72,843 
34,719 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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