Registered number
SC382198
Change IT Systems Ltd
Filleted Accounts
31 July 2023
Change IT Systems Ltd
Registered number: SC382198
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 139,170 100,768
Cash at bank and in hand 35,320 56,920
174,490 157,688
Creditors: amounts falling due within one year 4 (174,191) (155,823)
Net current assets 299 1,865
Net assets 299 1,865
Capital and reserves
Called up share capital 2 2
Profit and loss account 297 1,863
Shareholder's funds 299 1,865
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G K Murray
Director
Approved by the board on 29 January 2024
Change IT Systems Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 17,400 28,134
Tax debtors 30,727 17,816
Other debtors 91,043 54,818
139,170 100,768
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 172,198 153,830
Accruals 1,993 1,993
174,191 155,823
5 Other information
Change IT Systems Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
30/5 Hardengreen Industrial Estate
Eskbank
Edinburgh
EH22 3NX
Change IT Systems Ltd SC382198 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 Mr G K Murray No description of principal activity SC382198 2021-08-01 2022-07-31 SC382198 core:WithinOneYear 2022-07-31 SC382198 core:ShareCapital 2022-07-31 SC382198 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC382198 2022-08-01 2023-07-31 SC382198 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC382198 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC382198 bus:Director40 2022-08-01 2023-07-31 SC382198 1 2022-08-01 2023-07-31 SC382198 2 2022-08-01 2023-07-31 SC382198 countries:England 2022-08-01 2023-07-31 SC382198 bus:FRS102 2022-08-01 2023-07-31 SC382198 bus:FullAccounts 2022-08-01 2023-07-31 SC382198 2023-07-31 SC382198 core:WithinOneYear 2023-07-31 SC382198 core:ShareCapital 2023-07-31 SC382198 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC382198 2022-07-31 iso4217:GBP xbrli:pure