Company Registration No. 10634887 (England and Wales)
IT BROKERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
IT BROKERS LTD
COMPANY INFORMATION
Directors
A Kempster
J Moran
Company number
10634887
Registered office
Business and Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX
IT BROKERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
IT BROKERS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,944
5,763
Current assets
Debtors
3
11,219
17,074
Cash at bank and in hand
19,443
13,422
30,662
30,496
Creditors: amounts falling due within one year
4
(26,106)
(18,228)
Net current assets
4,556
12,268
Total assets less current liabilities
16,500
18,031
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
16,498
18,029
Total equity
16,500
18,031
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 22 November 2023 and are signed on its behalf by:
A Kempster
Director
Company Registration No. 10634887
IT BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information
IT BROKERS LTD is a private company limited by shares incorporated in England and Wales. The registered office is Business and Technology Centre, Bessemer Drive, Stevenage, Herts, SG1 2DX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
IT BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
10,583
Additions
10,162
At 28 February 2023
20,745
Depreciation and impairment
At 1 March 2022
4,820
Depreciation charged in the year
3,981
At 28 February 2023
8,801
Carrying amount
At 28 February 2023
11,944
At 28 February 2022
5,763
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,219
17,074
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
15,920
12,469
Other taxation and social security
9,461
5,034
Other creditors
725
725
26,106
18,228
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary of £1 each
100
100
Issued and fully paid
2 Ordinary of £1 each
2
2
IT BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
(Continued)
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