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Company Registration No. 14154728 (England and Wales)
Business Information Technology Services Limited Unaudited accounts for the year ended 30 June 2023
Business Information Technology Services Limited Unaudited accounts Contents
Page
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Business Information Technology Services Limited Company Information for the year ended 30 June 2023
Director
Matthew Christopher Stevens
Company Number
14154728 (England and Wales)
Registered Office
14 Greenacre Close Brundall Norwich Norfolk NR13 5QF England
Accountants
Actagen Accountants 108 Lackford Close Brundall Norfolk NR13 5NL
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Business Information Technology Services Limited Accountants' report
Accountants' report to the director of Business Information Technology Services Limited on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Business Information Technology Services Limited for the year ended 30 June 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Business Information Technology Services Limited, as a body, in accordance with the terms of our engagement letter dated 8 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Business Information Technology Services Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Business Information Technology Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Business Information Technology Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Business Information Technology Services Limited. You consider that Business Information Technology Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Business Information Technology Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Actagen Accountants 108 Lackford Close Brundall Norfolk NR13 5NL 7 February 2024
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Business Information Technology Services Limited Statement of financial position as at 30 June 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
3,024 
Current assets
Debtors
2,023 
Cash at bank and in hand
2,451 
4,474 
Creditors: amounts falling due within one year
(1,013)
Net current assets
3,461 
Net assets
6,485 
Capital and reserves
Called up share capital
1 
Profit and loss account
6,484 
Shareholders' funds
6,485 
For the year ending 30 June 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 13 February 2024 and were signed on its behalf by
Matthew Christopher Stevens Director Company Registration No. 14154728
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Business Information Technology Services Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Business Information Technology Services Limited is a private company, limited by shares, registered in England and Wales, registration number 14154728. The registered office is 14 Greenacre Close, Brundall, Norwich, Norfolk, NR13 5QF, 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 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
25% Reducing Balance
Computer equipment
33.3% Straight Line
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.
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Business Information Technology Services Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
- 
- 
- 
Additions
2,921 
687 
3,608 
At 30 June 2023
2,921 
687 
3,608 
Depreciation
Charge for the year
395 
189 
584 
At 30 June 2023
395 
189 
584 
Net book value
At 30 June 2023
2,526 
498 
3,024 
5
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
2,023 
6
Creditors: amounts falling due within one year
2023 
£ 
Trade creditors
100 
Taxes and social security
5,365 
Loans from directors
(4,452)
1,013 
7
Share capital
2023 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
Shares issued during the period:
1 Ordinary shares of £1 each
1 
8
Average number of employees
During the year the average number of employees was 2.
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