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REGISTERED NUMBER: 09250065 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

ITF TECH LTD

ITF TECH LTD (REGISTERED NUMBER: 09250065)

Contents of the Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ITF TECH LTD

Company Information
for the year ended 31 October 2023







Directors: Mr T P O'Donnell
Mr P J Willis





Registered office: First Intervention Team Centre
The Manorway
Stanford-Le-Hope
SS17 9LQ





Registered number: 09250065 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

ITF TECH LTD (REGISTERED NUMBER: 09250065)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,732 2,339

Current assets
Debtors 5 37,275 29,137
Cash at bank 89,223 101,355
126,498 130,492
Creditors
Amounts falling due within one year 6 50,358 43,627
Net current assets 76,140 86,865
Total assets less current liabilities 77,872 89,204

Capital and reserves
Called up share capital 7 2 2
Retained earnings 77,870 89,202
Shareholders' funds 77,872 89,204

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.

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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr T P O'Donnell - Director


ITF TECH LTD (REGISTERED NUMBER: 09250065)

Notes to the Financial Statements
for the year ended 31 October 2023


1. Statutory information

ITF Tech 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 from services is recognised in the same period within which the services are performed

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 statement of financial position date.

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 ) .

ITF TECH LTD (REGISTERED NUMBER: 09250065)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 November 2022
and 31 October 2023 3,564
Depreciation
At 1 November 2022 1,225
Charge for year 607
At 31 October 2023 1,832
Net book value
At 31 October 2023 1,732
At 31 October 2022 2,339

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 19,253 27,087
Other debtors 18,022 2,050
37,275 29,137

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 28,608 25,547
Taxation and social security 8,929 5,467
Other creditors 12,821 12,613
50,358 43,627

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ord 1 2 2

ITF TECH LTD (REGISTERED NUMBER: 09250065)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mr T P O'Donnell
Balance outstanding at start of year (5,606 ) (606 )
Amounts advanced 15,000 -
Amounts repaid (15,000 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,606 ) (5,606 )

Mr P J Willis
Balance outstanding at start of year (5,283 ) (283 )
Amounts advanced 15,000 -
Amounts repaid (15,000 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,283 ) (5,283 )

The balances due to the company directors is interest free and repayable upon demand.