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REGISTERED NUMBER: 06514473 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Servio Technology Limited
Trading as
The IT Supplier

Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Servio Technology Limited
Trading as The IT Supplier

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M C Charlton
M J W Haystaff





SECRETARY: M J W Haystaff





REGISTERED OFFICE: Eagle House
69 The Street
Old Basing
Basingstoke
Hampshire
RG24 7BY





REGISTERED NUMBER: 06514473 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 918 943

CURRENT ASSETS
Stocks 6,667 9,598
Debtors 5 325,866 295,376
Cash at bank 216,926 422,584
549,459 727,558
CREDITORS
Amounts falling due within one year 6 222,449 281,529
NET CURRENT ASSETS 327,010 446,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,928

446,972

PROVISIONS FOR LIABILITIES 8 209 -
NET ASSETS 327,719 446,972

CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 50 50
Retained earnings 327,619 446,872
SHAREHOLDERS' FUNDS 327,719 446,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Balance Sheet - continued
31 March 2024


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 5 August 2024 and were signed on its behalf by:





M J W Haystaff - Director


Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Servio Technology 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.

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.
Computer equipment - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.


Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


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, adjusted for indexation where applicable.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 2,216
Additions 619
At 31 March 2024 2,835
DEPRECIATION
At 1 April 2023 1,273
Charge for year 644
At 31 March 2024 1,917
NET BOOK VALUE
At 31 March 2024 918
At 31 March 2023 943

Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 313,323 288,422
Other debtors 12,543 6,954
325,866 295,376

The company has entered into an invoice discounting agreement, with full recourse, with RBS Invoice Finance Limited. Under the agreement up to 80% of eligible trade debtors are immediately available to the company.

The amount owed to RBS Invoice Finance Limited is disclosed in the creditors note.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 159,406 176,149
Taxation and social security 51,629 95,802
Other creditors 11,414 9,578
222,449 281,529

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 20,000 20,000
Between one and five years 80,000 80,000
In more than five years 30,000 50,000
130,000 150,000

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 209 -

Deferred
tax
£   
Accelerated capital allowances 209
Balance at 31 March 2024 209

Servio Technology Limited (Registered number: 06514473)
Trading as The IT Supplier

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 Ordinary £1 50 50