Company Registration No. 07913777 (England and Wales)
ON IT NOT IN IT LIMITED
Unaudited accounts
for the year ended 31 March 2024
ON IT NOT IN IT LIMITED
Unaudited accounts
Contents
ON IT NOT IN IT LIMITED
Company Information
for the year ended 31 March 2024
Company Number
07913777 (England and Wales)
Registered Office
97 Trinity Avenue
Llandudno
LL30 2UJ
Accountants
Accounts and Returns Ltd
26 Smith St
Warwick
CV34 4HS
ON IT NOT IN IT LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
11,960
13,229
Cash at bank and in hand
72,743
54,934
Creditors: amounts falling due within one year
(6,820)
(5,042)
Net current assets
65,923
49,892
Total assets less current liabilities
77,883
63,121
Creditors: amounts falling due after more than one year
173
(69)
Called up share capital
10
10
Profit and loss account
78,046
63,042
Shareholders' funds
78,056
63,052
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 director acknowledges his 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 and authorised for issue on 16 October 2024 and were signed on its behalf by
Stephen Roberts
Director
Company Registration No. 07913777
ON IT NOT IN IT LIMITED
Notes to the Accounts
for the year ended 31 March 2024
ON IT NOT IN IT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07913777. The registered office is 97 Trinity Avenue, Llandudno, LL30 2UJ.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At valuation
At cost
At 1 April 2023
32,107
4,388
36,495
At 31 March 2024
34,335
4,388
38,723
At 1 April 2023
19,185
4,081
23,266
Charge for the year
3,910
76
3,986
At 31 March 2024
22,606
4,157
26,763
At 31 March 2024
11,729
231
11,960
At 31 March 2023
12,922
307
13,229
ON IT NOT IN IT LIMITED
Notes to the Accounts
for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
6,085
4,172
6
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
8
Transactions with related parties
During the year, the company received a loan from a member of key management personnel. The loan of £6085 (2023: £4172) is to be repaid on demand and interest-free. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due within one year.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).