2022-12-012023-11-302023-11-30false05593706I.T. Associates Financial Planning 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I.T. Associates Financial Planning LTD

Registered Number
05593706
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

I.T. Associates Financial Planning LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Ian Clive Tandy

Registered Address

49 East Quay House
Marrowbone Slip
Plymouth
PL4 0HX

Registered Number

05593706 (England and Wales)
I.T. Associates Financial Planning LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,17916,031
1,17916,031
Current assets
Debtors772,57766,090
Cash at bank and on hand24,10820,063
96,68586,153
Creditors amounts falling due within one year8(39,248)(33,358)
Net current assets (liabilities)57,43752,795
Total assets less current liabilities58,61668,826
Creditors amounts falling due after one year9(12,000)(20,191)
Provisions for liabilities10(224)(177)
Net assets46,39248,458
Capital and reserves
Called up share capital202102
Profit and loss account46,19048,356
Shareholders' funds46,39248,458
The financial statements were approved and authorised for issue by the Director on 7 February 2024, and are signed on its behalf by:
Ian Clive Tandy
Director
Registered Company No. 05593706
I.T. Associates Financial Planning LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of services is recognised when the significant risks and rewards of ownership of the services 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.
Deferred tax policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 2215,64710,6593,43810,19839,942
Additions---690690
Disposals(15,647)---(15,647)
At 30 November 23-10,6593,43810,88824,985
Depreciation and impairment
At 01 December 2254810,4952,84910,01923,911
Charge for year-41147255443
On disposals(548)---(548)
At 30 November 23-10,5362,99610,27423,806
Net book value
At 30 November 23-1234426141,179
At 30 November 2215,09916458917916,031
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Ian Clive Tandy53,36328,34829,31252,399
Directors loan account
53,36328,34829,31252,399
7.Debtors

2023

2022

££
Other debtors72,57766,090
Total72,57766,090
8.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts8,0008,000
Taxation and social security16,98710,228
Other creditors13,78114,788
Accrued liabilities and deferred income480342
Total39,24833,358
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts12,00020,191
Total12,00020,191
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)224177
Total224177