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REGISTERED NUMBER: 08273131 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2024

for

1EASYIT Ltd

1EASYIT Ltd (Registered number: 08273131)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


1EASYIT Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M J Howells



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



REGISTERED NUMBER: 08273131 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Barclays Bank PLC
Princes Street
Ipswich
Suffolk
IP1 1PB

1EASYIT Ltd (Registered number: 08273131)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113 251

CURRENT ASSETS
Stocks 1,915 2,193
Debtors 5 9,674 6,594
Cash at bank 42,478 57,355
54,067 66,142
CREDITORS
Amounts falling due within one year 6 22,469 18,523
NET CURRENT ASSETS 31,598 47,619
TOTAL ASSETS LESS CURRENT LIABILITIES 31,711 47,870

CREDITORS
Amounts falling due after more than one
year

7

6,666

11,667
NET ASSETS 25,045 36,203

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 24,945 36,103
SHAREHOLDERS' FUNDS 25,045 36,203

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

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

1EASYIT Ltd (Registered number: 08273131)

Statement of Financial Position - continued
31 January 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 director and authorised for issue on 23 July 2024 and were signed by:





M J Howells - Director


1EASYIT Ltd (Registered number: 08273131)

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

1. STATUTORY INFORMATION

1EASYIT 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

1EASYIT Ltd (Registered number: 08273131)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 1,424 6,308 7,732
DEPRECIATION
At 1 February 2023 1,276 6,205 7,481
Charge for year 35 103 138
At 31 January 2024 1,311 6,308 7,619
NET BOOK VALUE
At 31 January 2024 113 - 113
At 31 January 2023 148 103 251

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,638 6,594
Other debtors 36 -
9,674 6,594

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 1,425 1,355
Taxation and social security 14,194 9,626
Other creditors 1,850 2,542
22,469 18,523

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,666 11,667

The bank loan relates to a Bounce Back loan guaranteed by the Government.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100