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REGISTERED NUMBER: 11632922 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ITHELPDIRECT LTD

ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ITHELPDIRECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A M Mason
Ms F N Gray





REGISTERED OFFICE: Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ





REGISTERED NUMBER: 11632922 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

ABRIDGED BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 2,068
Tangible assets 5 17,471 14,055
17,472 16,123

CURRENT ASSETS
Stocks 23,500 7,500
Debtors 38,194 27,594
Cash at bank 13,197 18,689
74,891 53,783
CREDITORS
Amounts falling due within one year 69,135 47,808
NET CURRENT ASSETS 5,756 5,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,228

22,098

CREDITORS
Amounts falling due after more than one
year

(14,851

)

(19,130

)

PROVISIONS FOR LIABILITIES (3,490 ) (2,810 )
NET ASSETS 4,887 158

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 4,787 58
SHAREHOLDERS' FUNDS 4,887 158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

ABRIDGED BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 February 2024 and were signed on its behalf by:





A M Mason - Director


ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

ITHelpDirect Ltd 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.

The company's place of business is located in the south east of England. This is different to the company's registered office address.

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.

Turnover arising from the supply of services is recognised in the period to which entitlements accrued, 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 2020, is being amortised evenly over its estimated useful life of three 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost and over remaining period of lease
Computer equipment - 33% on cost

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.


ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 6,300
Additions 1
At 31 October 2023 6,301
AMORTISATION
At 1 November 2022 4,232
Amortisation for year 2,068
At 31 October 2023 6,300
NET BOOK VALUE

At 31 October 2023 1
At 31 October 2022 2,068

ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 23,195
Additions 13,732
At 31 October 2023 36,927
DEPRECIATION
At 1 November 2022 9,140
Charge for year 10,316
At 31 October 2023 19,456
NET BOOK VALUE
At 31 October 2023 17,471
At 31 October 2022 14,055

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 11,920
Additions 5,750
At 31 October 2023 17,670
DEPRECIATION
At 1 November 2022 4,768
Charge for year 4,282
At 31 October 2023 9,050
NET BOOK VALUE
At 31 October 2023 8,620
At 31 October 2022 7,152

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 4,143 2,219
Between one and five years 6,379 5,429
10,522 7,648

ITHELPDIRECT LTD (REGISTERED NUMBER: 11632922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 13,701 18,837
Hire purchase contracts 10,522 7,648
24,223 26,485

The loan is part of the Bounce Back Loan Scheme, and hence backed by the UK Government guarantee for the full amount outstanding.

Hire purchase liabilities are secured on the assets to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
100 100

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ITHELPDIRECT LTD

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ITHelpDirect Ltd for the year ended 31 October 2023 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ITHelpDirect Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ITHelpDirect Ltd and state those matters that we have agreed to state to the Board of Directors of ITHelpDirect Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ITHelpDirect Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ITHelpDirect Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ITHelpDirect Ltd. You consider that ITHelpDirect Ltd 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 financial statements of ITHelpDirect Ltd. 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 financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


16 February 2024