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Registered Number: 09248130
England and Wales

 

 

 

ITSCM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Antra Kumari
Santosh Mishra
Registered Number 09248130
Registered Office 16 Glen Avenue
York
England
YO31 0XN
Accountants 3E'S Accountants Limited
231 Kenton Road
Harrow
Middlesex
England
HA3 0HD
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 19,110    5,020 
19,110    5,020 
Current assets      
Debtors 4 14,208    36,465 
Cash at bank and in hand 250,220    163,048 
264,428    199,513 
Creditors: amount falling due within one year 5 (61,430)   (103,317)
Net current assets 202,998    96,196 
 
Total assets less current liabilities 222,108    101,216 
Provisions for liabilities 6 (4,303)   (954)
Net assets 217,805    100,262 
 

Capital and reserves
     
Called up share capital 20,000    20,000 
Profit and loss account 197,805    80,262 
Shareholders' funds 217,805    100,262 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 July 2024 and were signed on its behalf by:


-------------------------------
Antra Kumari
Director
2
General Information
ITSCM Limited is a private company, limited by shares, registered in England and Wales, registration number 09248130, registration address 16 Glen Avenue , York, England, YO31 0XN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 1,165    1,799    6,301    9,265 
Additions   16,654    4,514    21,168 
Disposals      
At 31 October 2023 1,165    18,453    10,815    30,433 
Depreciation
At 01 November 2022 291    1,040    2,914    4,245 
Charge for year 219    4,353    2,506    7,078 
On disposals      
At 31 October 2023 510    5,393    5,420    11,323 
Net book values
Closing balance as at 31 October 2023 655    13,060    5,395    19,110 
Opening balance as at 01 November 2022 874    759    3,387    5,020 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 14,056    36,465 
Other Debtors 152   
14,208    36,465 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Taxation and Social Security 40,559    47,433 
Other Creditors 20,871    55,884 
61,430    103,317 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,303    954 
4,303    954 

3