Registered number
13503131
ITJ Designs Ltd
Filleted Accounts
31 July 2024
ITJ Designs Ltd
Registered number: 13503131
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 141 566
Current assets
Debtors 4 84,169 41,544
Cash at bank and in hand 106,912 5,174
191,081 46,718
Creditors: amounts falling due within one year 5 (116,949) (46,791)
Net current assets/(liabilities) 74,132 (73)
Net assets 74,273 493
Capital and reserves
Called up share capital 2 2
Profit and loss account 74,271 491
Shareholders' funds 74,273 493
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Jones
Director
Approved by the board on 16 September 2024
ITJ Designs Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 1,698
At 31 July 2024 1,698
Depreciation
At 1 August 2023 1,132
Charge for the year 425
At 31 July 2024 1,557
Net book value
At 31 July 2024 141
At 31 July 2023 566
4 Debtors 2024 2023
£ £
Trade debtors 84,169 21,180
Prepayments - 3,560
Other debtors - 16,804
84,169 41,544
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 29,692 8,929
Taxation and social security costs 81,183 14,988
Other creditors 6,074 22,874
116,949 46,791
6 Other information
ITJ Designs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Brandenburg Suite
54-58 Tanner Street
London
SE1 3PH
ITJ Designs Ltd 13503131 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts April 2024 I Jones No description of principal activity 13503131 2022-08-01 2023-07-31 13503131 core:WithinOneYear 2023-07-31 13503131 core:ShareCapital 2023-07-31 13503131 core:RetainedEarningsAccumulatedLosses 2023-07-31 13503131 2023-08-01 2024-07-31 13503131 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13503131 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13503131 bus:Director40 2023-08-01 2024-07-31 13503131 1 2023-08-01 2024-07-31 13503131 2 2023-08-01 2024-07-31 13503131 core:PlantMachinery 2023-08-01 2024-07-31 13503131 countries:England 2023-08-01 2024-07-31 13503131 bus:FRS102 2023-08-01 2024-07-31 13503131 bus:FilletedAccounts 2023-08-01 2024-07-31 13503131 2024-07-31 13503131 core:WithinOneYear 2024-07-31 13503131 core:ShareCapital 2024-07-31 13503131 core:RetainedEarningsAccumulatedLosses 2024-07-31 13503131 core:PlantMachinery 2024-07-31 13503131 2023-07-31 13503131 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure