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REGISTERED NUMBER: SC394505 (Scotland)












Financial Statements

for the Year Ended 31 March 2023

for

I W Technology Services Ltd.

I W Technology Services Ltd. (Registered number: SC394505)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


I W Technology Services Ltd.

Company Information
for the Year Ended 31 March 2023







DIRECTOR: I Wilson





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC394505 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

I W Technology Services Ltd. (Registered number: SC394505)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 59,147 40,156

CURRENT ASSETS
Debtors 5 19,218 19,358
Cash at bank 146,240 87,200
165,458 106,558
CREDITORS
Amounts falling due within one year 6 125,227 102,113
NET CURRENT ASSETS 40,231 4,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,378

44,601

CREDITORS
Amounts falling due after more than one
year

7

(25,833

)

(35,833

)

PROVISIONS FOR LIABILITIES 8 (11,238 ) (7,630 )
NET ASSETS 62,307 1,138

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 62,306 1,137
SHAREHOLDERS' FUNDS 62,307 1,138

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 director acknowledges his 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.

I W Technology Services Ltd. (Registered number: SC394505)

Statement of Financial Position - 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.

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

The financial statements were approved by the director and authorised for issue on 17 October 2023 and were signed by:





I Wilson - Director


I W Technology Services Ltd. (Registered number: SC394505)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

I W Technology Services Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

I W Technology Services Ltd. (Registered number: SC394505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 - 141,353 7,253 148,606
Additions 376 32,303 1,488 34,167
Disposals - (13,585 ) - (13,585 )
At 31 March 2023 376 160,071 8,741 169,188
DEPRECIATION
At 1 April 2022 - 101,931 6,519 108,450
Charge for year 56 11,942 760 12,758
Eliminated on disposal - (11,167 ) - (11,167 )
At 31 March 2023 56 102,706 7,279 110,041
NET BOOK VALUE
At 31 March 2023 320 57,365 1,462 59,147
At 31 March 2022 - 39,422 734 40,156

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,218 19,358

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 45,798 16,259
Taxation and social security 66,659 70,342
Other creditors 2,770 5,512
125,227 102,113

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,833 35,833

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 11,238 7,630

I W Technology Services Ltd. (Registered number: SC394505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 7,630
Charge to Income Statement during year 3,608
Balance at 31 March 2023 11,238

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1