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REGISTERED NUMBER: 09112502 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

EMPOWER IT SOLUTIONS LTD

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EMPOWER IT SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr J Smy
Mrs S Smy





REGISTERED OFFICE: Cedar House
Mill Hill
Capel St. Mary
Ipswich
IP9 2JE





REGISTERED NUMBER: 09112502 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 760 -
Tangible assets 5 73,490 21,362
Investments 6 150 100
74,400 21,462

CURRENT ASSETS
Debtors 7 389,545 379,306
Cash at bank and in hand 422,611 447,055
812,156 826,361
CREDITORS
Amounts falling due within one year 8 144,838 228,937
NET CURRENT ASSETS 667,318 597,424
TOTAL ASSETS LESS CURRENT
LIABILITIES

741,718

618,886

CREDITORS
Amounts falling due after more than one
year

9

43,212

54,842
NET ASSETS 698,506 564,044

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 698,396 563,934
SHAREHOLDERS' FUNDS 698,506 564,044

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

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

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

STATEMENT OF FINANCIAL POSITION - continued
30 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 Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:




Mr J Smy - Director



Mrs S Smy - Director


EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

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

1. STATUTORY INFORMATION

Empower IT Solutions 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 presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced value of services rendered and sale of goods, excluding value added tax.

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.

Website costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost, 25% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Government assisted loans
Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 950
At 30 June 2023 950
AMORTISATION
Charge for year 190
At 30 June 2023 190
NET BOOK VALUE
At 30 June 2023 760

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 67,459
Additions 84,359
At 30 June 2023 151,818
DEPRECIATION
At 1 July 2022 46,097
Charge for year 32,231
At 30 June 2023 78,328
NET BOOK VALUE
At 30 June 2023 73,490
At 30 June 2022 21,362

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 July 2022 100 - 100
Additions - 50 50
At 30 June 2023 100 50 150
NET BOOK VALUE
At 30 June 2023 100 50 150
At 30 June 2022 100 - 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,281 41,888
Amounts owed by group undertakings 29,605 947
Other debtors 337,659 336,471
389,545 379,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,233 1,205
Trade creditors 54,791 48,621
Taxation and social security 43,181 79,305
Other creditors 39,633 99,806
144,838 228,937

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 42,795 49,425
Other creditors 417 5,417
43,212 54,842

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,863 -

10. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £364,197 (2022: £323,656) due from companies in which the directors have an interest.