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REGISTERED NUMBER: 09390513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ITGUY LONDON LIMITED

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITGUY LONDON LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTOR: Mr B Schneider





SECRETARY: Mr B Schneider





REGISTERED OFFICE: W2 8 Woodberry Down
London
N4 2TG





REGISTERED NUMBER: 09390513 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,868 7,905

CURRENT ASSETS
Debtors 5 17,067 13,534
Cash at bank and in hand 102,349 103,876
119,416 117,410
CREDITORS
Amounts falling due within one year 6 61,996 50,486
NET CURRENT ASSETS 57,420 66,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,288

74,829

CREDITORS
Amounts falling due after more than one
year

7

(23,375

)

(34,235

)

PROVISIONS FOR LIABILITIES 8 (1,338 ) (1,502 )
NET ASSETS 37,575 39,092

CAPITAL AND RESERVES
Called up share capital 9 120 120
Retained earnings 37,455 38,972
SHAREHOLDERS' FUNDS 37,575 39,092

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

BALANCE SHEET - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





Mr B Schneider - Director


ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

ITGUY London 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 accounts have been prepared on a going concern basis which assumes that the company will continue to trade.

Changes in reporting period
The current period's financial statements represent a 12 month period to 31 May 2023, the prior period represents a 14 month period to 31 May 2022.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.

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.

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022 891 18,941 19,832
Additions - 1,412 1,412
Disposals - (8,103 ) (8,103 )
At 31 May 2023 891 12,250 13,141
DEPRECIATION
At 1 June 2022 316 11,611 11,927
Charge for year 144 2,130 2,274
Eliminated on disposal - (5,928 ) (5,928 )
At 31 May 2023 460 7,813 8,273
NET BOOK VALUE
At 31 May 2023 431 4,437 4,868
At 31 May 2022 575 7,330 7,905

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,904 8,617
Other debtors 1,000 -
Accrued income 7,314 2,356
Prepayments 5,849 2,561
17,067 13,534

ITGUY LONDON LIMITED (REGISTERED NUMBER: 09390513)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 11,512 11,244
Trade creditors 24,133 15,389
Taxation 6,969 8,765
Social security and other taxes 1,709 1,658
Value added tax 11,510 9,613
Other creditors 5,002 2,834
Directors' current accounts 36 235
Accruals 1,125 748
61,996 50,486

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 2-5 years 23,375 34,235

8. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 1,338 1,502

Deferred
tax
£   
Balance at 1 June 2022 1,502
Provided during year (164 )
Balance at 31 May 2023 1,338

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
120 Ordinary £1 120 120