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INITIALSOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023






INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

INITIALSOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: W M Bakry





SECRETARY: J M Loveday





REGISTERED OFFICE: Charter House
105 Leigh Road
Leigh on Sea
Essex
SS9 1JL





REGISTERED NUMBER: 03217139 (England and Wales)





ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL

INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 629 787
629 787

CURRENT ASSETS
Debtors 6 2,635 331
Cash at bank and in hand 1,050 4,400
3,685 4,731
CREDITORS
Amounts falling due within one year 7 7,241 7,220
NET CURRENT LIABILITIES (3,556 ) (2,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,927

)

(1,702

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (3,927 ) (2,702 )
SHAREHOLDERS' FUNDS (2,927 ) (1,702 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)

BALANCE SHEET - continued
30TH JUNE 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 14th March 2024 and were signed by:





W M Bakry - Director


INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Initialsolutions 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared on a going concern basis. Of the companies liabilities £6,288 (2022 £6,278) was due to the director. The director will continue to support the company and will not demand repayment of the loan during the next 12 months.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets.

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

Intangible assets
The software licence is amortised over the course of the 3 year agreement, starting in July 2011.

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 equipment - 20% on reducing balance

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.

INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st July 2022
and 30th June 2023 4,000
AMORTISATION
At 1st July 2022
and 30th June 2023 4,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
equipment
£   
COST
At 1st July 2022
and 30th June 2023 1,614
DEPRECIATION
At 1st July 2022 827
Charge for year 158
At 30th June 2023 985
NET BOOK VALUE
At 30th June 2023 629
At 30th June 2022 787

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,485 -
Prepayments 150 331
2,635 331

INITIALSOLUTIONS LIMITED (REGISTERED NUMBER: 03217139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 6,288 6,278
Accrued expenses 953 942
7,241 7,220

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director.

INITIALSOLUTIONS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
INITIALSOLUTIONS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th June 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


14th March 2024