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REGISTERED NUMBER: 10451664 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

It's Your Business Limited

It's Your Business Limited (Registered number: 10451664)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


It's Your Business Limited

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: S Graham





REGISTERED OFFICE: The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 10451664 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

It's Your Business Limited (Registered number: 10451664)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,385 11,402

CURRENT ASSETS
Debtors 5 - 1,013

CREDITORS
Amounts falling due within one year 6 12,891 20,439
NET CURRENT LIABILITIES (12,891 ) (19,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,506

)

(8,024

)

CREDITORS
Amounts falling due after more than one
year

7

(8,561

)

(10,014

)

PROVISIONS FOR LIABILITIES (1,059 ) -
NET LIABILITIES (15,126 ) (18,038 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (15,127 ) (18,039 )
SHAREHOLDERS' FUNDS (15,126 ) (18,038 )

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 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.

It's Your Business Limited (Registered number: 10451664)

Balance Sheet - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





S Graham - Director


It's Your Business Limited (Registered number: 10451664)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

It's Your Business Limited 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.

Going concern
These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of the directors and external finance.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 3 years
Fixtures and fittings - 12.5% on cost
Computer equipment - 3 years

It's Your Business Limited (Registered number: 10451664)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

It's Your Business Limited (Registered number: 10451664)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 1,940 25,800 2,400 30,140
DEPRECIATION
At 1 November 2022 1,940 16,399 399 18,738
Charge for year - 3,225 792 4,017
At 31 October 2023 1,940 19,624 1,191 22,755
NET BOOK VALUE
At 31 October 2023 - 6,176 1,209 7,385
At 31 October 2022 - 9,401 2,001 11,402

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,013

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 2,456 2,270
Trade creditors 76 1
Taxation and social security - 10,729
Other creditors 10,359 7,439
12,891 20,439

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 8,561 10,014

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,231 3,837

It's Your Business Limited (Registered number: 10451664)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 970 820
Bank loan > 1 year 1,486 1,450
2,456 2,270

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,524 1,487

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,806 4,690

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,231 3,837

Loan balance outstanding at the balance sheet date are unsecured and guaranteed by the UK Government.