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REGISTERED NUMBER: 07140079 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SPHERE IT CONSULTANTS LIMITED

SPHERE IT CONSULTANTS LIMITED (REGISTERED NUMBER: 07140079)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPHERE IT CONSULTANTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: M S Collins
Mrs S Ellis
L Ellis
Ms L J Hibbert





SECRETARY: M S Collins





REGISTERED OFFICE: Unit 8
Greenleaf House
128 Darkes Lane
Potters Bar
Hertfordshire
EN6 1AE





REGISTERED NUMBER: 07140079 (England and Wales)





ACCOUNTANTS: Lovetts Accountants Limited
Bridge House
25 Fiddlebridge Lane
Hatfield
Hertfordshire
AL10 0SP

SPHERE IT CONSULTANTS LIMITED (REGISTERED NUMBER: 07140079)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,673 2,119
Investment property 5 83,800 83,800
85,473 85,919

CURRENT ASSETS
Debtors 6 195,888 182,924
Cash at bank and in hand 75,248 236,254
271,136 419,178
CREDITORS
Amounts falling due within one year 7 110,813 206,693
NET CURRENT ASSETS 160,323 212,485
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,796

298,404

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 245,795 298,403
SHAREHOLDERS' FUNDS 245,796 298,404

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:



M S Collins - Director


SPHERE IT CONSULTANTS LIMITED (REGISTERED NUMBER: 07140079)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Sphere IT Consultants Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

SPHERE IT CONSULTANTS LIMITED (REGISTERED NUMBER: 07140079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 4,132
DEPRECIATION
At 1 February 2023 2,013
Charge for year 446
At 31 January 2024 2,459
NET BOOK VALUE
At 31 January 2024 1,673
At 31 January 2023 2,119

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 83,800
NET BOOK VALUE
At 31 January 2024 83,800
At 31 January 2023 83,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 193,125 180,665
Other debtors 2,763 2,259
195,888 182,924

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 34,620 48,492
Taxation and social security 51,902 135,869
Other creditors 24,291 22,332
110,813 206,693