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REGISTERED NUMBER: 07093596 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Target IT Services (Bournemouth) Ltd

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Target IT Services (Bournemouth) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr Martyn George Alner





REGISTERED OFFICE: 1st Floor
85 Castle Lane West
Bournemouth
Dorset
BH9 3LH





REGISTERED NUMBER: 07093596 (England and Wales)





ACCOUNTANTS: Birkett & Co Ltd
186b Lower Blandford Road
Broadstone
Dorset
BH18 8DP

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,930 17,959
16,930 17,959

CURRENT ASSETS
Stocks 13,366 18,016
Debtors 6 171,704 121,913
Cash at bank and in hand 30,194 10,643
215,264 150,572
CREDITORS
Amounts falling due within one year 7 (215,332 ) (143,821 )
NET CURRENT (LIABILITIES)/ASSETS (68 ) 6,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,862

24,710

CREDITORS
Amounts falling due after more than
one year

8

(8,313

)

(10,010

)

PROVISIONS FOR LIABILITIES (3,217 ) (1,508 )
NET ASSETS 5,332 13,192

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 332 8,192
SHAREHOLDERS' FUNDS 5,332 13,192

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





Mr Martyn George Alner - Director


Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Target IT Services (Bournemouth) 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.

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 2010, is being amortised evenly over its estimated useful life of five 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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
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
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 5,000
AMORTISATION
At 1 January 2023
and 31 December 2023 5,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 50,606
Additions 3,203
At 31 December 2023 53,809
DEPRECIATION
At 1 January 2023 32,647
Charge for year 4,232
At 31 December 2023 36,879
NET BOOK VALUE
At 31 December 2023 16,930
At 31 December 2022 17,959

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,923 51,795
Other debtors 98,781 70,118
171,704 121,913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,276 -
Trade creditors 32,953 43,828
Taxation and social security 35,419 25,542
Other creditors 141,684 74,451
215,332 143,821

Target IT Services (Bournemouth) Ltd (Registered number: 07093596)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 8,313 10,010