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REGISTERED NUMBER: 08809433 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ONE IT SERVICES AND SOLUTIONS LIMITED

ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 4,036 5,381
Tangible assets 5 310,514 290,408
314,550 295,789

CURRENT ASSETS
Stocks 40,264 61,547
Debtors 415,297 360,582
Cash at bank 782,660 401,868
1,238,221 823,997
CREDITORS
Amounts falling due within one year 939,745 538,510
NET CURRENT ASSETS 298,476 285,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

613,026

581,276

CREDITORS
Amounts falling due after more than one
year

6

(93,213

)

(107,120

)

PROVISIONS FOR LIABILITIES (12,787 ) (6,938 )
NET ASSETS 507,026 467,218

RESERVES
Retained earnings 507,026 467,218
507,026 467,218

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.

ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mr E Jewitt - Director


ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

ONE IT Services and Solutions Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08809433

Registered office: Blackburn House, Falcon Court
Preston Farm Industrial Estate
Stockton-on-Tees
TS18 3TX

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.

Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax and as adjusted for accrued and deferred income.

Work done but not invoiced at the financial year end is provided at estimated selling price based on the proportion of work carried out and is included within debtors.

Where contracts have been invoiced for a period, all or part of which relates to a period after the financial year end, or work has been invoiced in advance of goods or services being provided, income is deferred. In the case of contracts, the amount of income deferred is based on the proportion of the total contract which relates to the period after the financial year end. Income deferred is included within creditors.

Goodwill
Goodwill had not been amortised until its full value was determined after the first three years of trading. It is now being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

IT equipment- straight line over 3 years

Improvements to leasehold property- straight line over 5 years

Long leasehold property- straight line over 50 years

Office equipment- straight line over 5 years

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


ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Pension costs and other post-retirement benefits
The company is part of multi-employer defined benefit pension scheme, the Teesside Pension Fund, which is administered by Middlesbrough Council. As the company's contributions are set in relation to the current service period only, and are not affected by any surplus or deficit in the scheme relating to past service of its own employees, the actual contributions paid are treated as the cost to the company in the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1 April 2023
and 31 March 2024 13,453
AMORTISATION
At 1 April 2023 8,072
Amortisation for year 1,345
At 31 March 2024 9,417
NET BOOK VALUE

At 31 March 2024 4,036
At 31 March 2023 5,381

ONE IT SERVICES AND SOLUTIONS LIMITED (REGISTERED NUMBER: 08809433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 April 2023 421,396
Additions 59,004
At 31 March 2024 480,400
DEPRECIATION
At 1 April 2023 130,988
Charge for year 38,898
At 31 March 2024 169,886
NET BOOK VALUE
At 31 March 2024 310,514
At 31 March 2023 290,408

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£ £
Repayable by instalments
Bank loans 6,213 26,120

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 110,213 126,120