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REGISTERED NUMBER: 04555311 (England and Wales)















Solutions In I.T. Limited

Unaudited Financial Statements For The Year Ended 30 September 2023






Solutions In I.T. Limited (Registered number: 04555311)






Contents of the Financial Statements
For The Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Solutions In I.T. Limited

Company Information
For The Year Ended 30 September 2023







DIRECTORS: G Downes
G W I Perkins





SECRETARY: Mrs L Parekh-Downes





REGISTERED OFFICE: The Straw Barn
Upton End Business Park
Meppershall Road
Shillington
Bedfordshire
SG5 3PF





REGISTERED NUMBER: 04555311 (England and Wales)





ACCOUNTANTS: Premier Accountancy
The Straw Barn
Upton End Business Park
Meppershall Road
Shillington
Bedfordshire
SG5 3PF

Solutions In I.T. Limited (Registered number: 04555311)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 550,000 550,000
Tangible assets 5 6,219 6,529
556,219 556,529

CURRENT ASSETS
Stocks 20,826 20,826
Debtors 6 159,956 204,465
Cash at bank 155,409 78,208
336,191 303,499
CREDITORS
Amounts falling due within one year 7 152,430 130,955
NET CURRENT ASSETS 183,761 172,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

739,980

729,073

CREDITORS
Amounts falling due after more than one
year

8

87,472

123,538
NET ASSETS 652,508 605,535

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 550,000 550,000
Retained earnings 102,408 55,435
652,508 605,535

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Solutions In I.T. Limited (Registered number: 04555311)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





G Downes - Director


Solutions In I.T. Limited (Registered number: 04555311)

Notes to the Financial Statements
For The Year Ended 30 September 2023

1. STATUTORY INFORMATION

Solutions In I.T. 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
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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Solutions In I.T. Limited (Registered number: 04555311)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 550,000
NET BOOK VALUE
At 30 September 2023 550,000
At 30 September 2022 550,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 39,496
Additions 1,244
At 30 September 2023 40,740
DEPRECIATION
At 1 October 2022 32,967
Charge for year 1,554
At 30 September 2023 34,521
NET BOOK VALUE
At 30 September 2023 6,219
At 30 September 2022 6,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 158,762 203,281
Other debtors 1,194 1,184
159,956 204,465

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 79,874 95,007
Taxation and social security 25,356 35,948
Other creditors 47,200 -
152,430 130,955

Solutions In I.T. Limited (Registered number: 04555311)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 87,472 123,538

9. RESERVES
Revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 550,000

Solutions In I.T. Limited

Report of the Accountants to the Directors of
Solutions In I.T. Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 30 September 2023 set out on pages three to six 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.






Premier Accountancy
The Straw Barn
Upton End Business Park
Meppershall Road
Shillington
Bedfordshire
SG5 3PF


26 February 2024