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REGISTERED NUMBER: 07030565 (England and Wales)















Bias IT Limited

Unaudited Financial Statements

For The Year Ended 31st March 2023






Bias IT Limited (Registered number: 07030565)






Contents of the Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Bias IT Limited

Company Information
For The Year Ended 31st March 2023







DIRECTOR: P J Duckett





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
Northamptonshire
NN1 4EP





BUSINESS ADDRESS: Heyford Grange
Furnace Lane
Watling Street
Weedon Bec
Northamptonshire
NN7 4SB





REGISTERED NUMBER: 07030565 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Bias IT Limited (Registered number: 07030565)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 148,167 161,142

CURRENT ASSETS
Debtors 6 226,380 293,623
Cash at bank and in hand 511,016 242,578
737,396 536,201
CREDITORS
Amounts falling due within one year 7 274,496 275,438
NET CURRENT ASSETS 462,900 260,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,067

421,905

CREDITORS
Amounts falling due after more than one
year

8

(10,606

)

(22,424

)

PROVISIONS FOR LIABILITIES 10 (18,000 ) (13,800 )
NET ASSETS 582,461 385,681

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 582,261 385,481
SHAREHOLDERS' FUNDS 582,461 385,681

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

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

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 24th November 2023 and were signed by:





P J Duckett - Director


Bias IT Limited (Registered number: 07030565)

Notes to the Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

Bias IT 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 (£).


The principal activity of the company that of a business and domestic software development and computer facilities management activities.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistency applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance and 10% on cost
Computer equipment - 33% on cost

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Bias IT Limited (Registered number: 07030565)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1st April 2022 123,065 98,836 5,168 227,069
Additions 6,543 8,356 - 14,899
At 31st March 2023 129,608 107,192 5,168 241,968
DEPRECIATION
At 1st April 2022 34,662 26,098 5,167 65,927
Charge for year 12,954 14,920 - 27,874
At 31st March 2023 47,616 41,018 5,167 93,801
NET BOOK VALUE
At 31st March 2023 81,992 66,174 1 148,167
At 31st March 2022 88,403 72,738 1 161,142

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 206,467 219,795
Other debtors 19,913 73,828
226,380 293,623

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 11,818 11,818
Hire purchase contracts - 5,523
Trade creditors 98,967 94,657
Taxation and social security 108,777 65,380
Other creditors 54,934 98,060
274,496 275,438

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 10,606 22,424

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 11,818 11,818

Bias IT Limited (Registered number: 07030565)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

9. LOANS - continued
2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,606 11,818

Amounts falling due between two and five years:
Bank loans - 2-5 years - 10,606

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 18,000 13,800

Deferred
tax
£   
Balance at 1st April 2022 13,800
Provided during year 4,200
Balance at 31st March 2023 18,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

12. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2023 or 31st March 2022.

13. CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2023 or 31st March 2022.

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
P J Duckett
Balance outstanding at start of year 50,405 -
Amounts advanced - 50,405
Amounts repaid (50,405 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 50,405