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REGISTERED NUMBER: SC394505 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

I W Technology Services Ltd.

I W Technology Services Ltd. (Registered number: SC394505)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


I W Technology Services Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTOR: I Wilson





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC394505 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

I W Technology Services Ltd. (Registered number: SC394505)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 82,425 59,147

CURRENT ASSETS
Debtors 5 57,262 19,218
Cash at bank 107,549 146,240
164,811 165,458
CREDITORS
Amounts falling due within one year 6 113,790 125,227
NET CURRENT ASSETS 51,021 40,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,446

99,378

CREDITORS
Amounts falling due after more than one year 7 (15,833 ) (25,833 )

PROVISIONS FOR LIABILITIES 8 (20,606 ) (11,238 )
NET ASSETS 97,007 62,307

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 97,006 62,306
SHAREHOLDERS' FUNDS 97,007 62,307

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 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.

I W Technology Services Ltd. (Registered number: SC394505)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2024 and were signed by:





I Wilson - Director


I W Technology Services Ltd. (Registered number: SC394505)

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

1. STATUTORY INFORMATION

I W Technology Services Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

I W Technology Services Ltd. (Registered number: SC394505)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 376 160,071 8,741 169,188
Additions - 48,993 1,923 50,916
Disposals - (37,093 ) - (37,093 )
At 31 March 2024 376 171,971 10,664 183,011
DEPRECIATION
At 1 April 2023 56 102,706 7,279 110,041
Charge for year 48 17,531 1,320 18,899
Eliminated on disposal - (28,354 ) - (28,354 )
At 31 March 2024 104 91,883 8,599 100,586
NET BOOK VALUE
At 31 March 2024 272 80,088 2,065 82,425
At 31 March 2023 320 57,365 1,462 59,147

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,262 19,218

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 45,765 45,798
Taxation and social security 55,132 66,659
Other creditors 2,893 2,770
113,790 125,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,833 25,833

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 20,606 11,238

I W Technology Services Ltd. (Registered number: SC394505)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 11,238
Charge to Income Statement during year 9,368
Balance at 31 March 2024 20,606

9. CALLED UP SHARE CAPITAL

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