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Company Registration No. 07179039 (England and Wales)
Internet Technology Systems Limited Unaudited accounts for the year ended 31 March 2024
Internet Technology Systems Limited Unaudited accounts Contents
Page
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Internet Technology Systems Limited Company Information for the year ended 31 March 2024
Directors
Mr Paul O Thompson Mrs Wendy J Thompson
Company Number
07179039 (England and Wales)
Registered Office
Old Post Office Church Road Castlemorton, Malvern Worcestershire WR13 6BE
Accountants
Sarah MacKellar Pixham Accounting & Bookkeeping Ltd Low Wood Brockhill Road Malvern WR14 4DL
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Internet Technology Systems Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Internet Technology Systems Limited for the year ended 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Sarah MacKellar Chartered Accountants Pixham Accounting & Bookkeeping Ltd Low Wood Brockhill Road Malvern WR14 4DL 24 July 2024
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Internet Technology Systems Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,577 
11,725 
Current assets
Inventories
200 
200 
Debtors
28,139 
23,534 
Cash at bank and in hand
27,179 
31,628 
55,518 
55,362 
Creditors: amounts falling due within one year
(55,865)
(42,965)
Net current (liabilities)/assets
(347)
12,397 
Net assets
10,230 
24,122 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
10,130 
24,022 
Shareholders' funds
10,230 
24,122 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by
Mr Paul O Thompson Director Company Registration No. 07179039
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Internet Technology Systems Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Internet Technology Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 07179039. The registered office is Old Post Office, Church Road, Castlemorton, Malvern, Worcestershire, WR13 6BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% and 25% on cost
Motor vehicles
25% on cost
Intangible fixed assets
Goodwill represents the excess of cost of acquisition of the business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
35,000 
At 31 March 2024
35,000 
Amortisation
At 1 April 2023
35,000 
At 31 March 2024
35,000 
Net book value
At 31 March 2024
- 
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Internet Technology Systems Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
21,449 
3,521 
8,176 
33,146 
Additions
76 
1,904 
4,022 
6,002 
At 31 March 2024
21,525 
5,425 
12,198 
39,148 
Depreciation
At 1 April 2023
12,952 
293 
8,176 
21,421 
Charge for the year
5,062 
1,277 
811 
7,150 
At 31 March 2024
18,014 
1,570 
8,987 
28,571 
Net book value
At 31 March 2024
3,511 
3,855 
3,211 
10,577 
At 31 March 2023
8,497 
3,228 
- 
11,725 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
28,139 
23,534 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,337 
- 
VAT
5,700 
7,894 
Trade creditors
20,526 
19,256 
Taxes and social security
16,257 
11,498 
Other creditors
8,437 
2,072 
Loans from directors
3,035 
1,245 
Accruals
573 
1,000 
55,865 
42,965 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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