ANGEL IT SYSTEMS LIMITED

Company Registration Number:
05602839 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

ANGEL IT SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 12

ANGEL IT SYSTEMS LIMITED

Company Information

for the Period Ended 31 October 2023




Director: Charles D Campbell
Secretary: Charles D Campbell
Registered office: 30
Treegarth Square
Nottingham
England
NG5 5QZ
Company Registration Number: 05602839 (England and Wales)

ANGEL IT SYSTEMS LIMITED

Directors' Report Period Ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Directors

The directors shown below have held office during the whole of the period from 01 November 2022 to 31 October 2023
Charles D Campbell

Secretary
Charles D Campbell

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Charles D Campbell
Status: Director

ANGEL IT SYSTEMS LIMITED

Profit and Loss Account

for the Period Ended 31 October 2023


Notes

2023
£

2022
£
Turnover 183,824 195,236
Cost of sales ( 105,772 ) ( 115,775 )
Gross Profit or (Loss) 78,052 79,461
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 42,989 ) ( 46,581 )
Other operating income 0 0
Operating Profit or (Loss) 35,063 32,880
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 1,318 ) ( 776 )
Profit or (Loss) Before Tax 33,745 32,104
Tax on Profit ( 6,411 ) ( 6,100 )
Profit or (Loss) for Period 27,334 26,004

The notes form part of these financial statements

ANGEL IT SYSTEMS LIMITED

Balance sheet

As at 31 October 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 5 9,235 10,865
Total fixed assets: 9,235 10,865
Current assets
Stocks: 4,000 4,000
Debtors: 6 3,966 14,210
Cash at bank and in hand: 0 3,830
Total current assets: 7,966 22,040
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 6,825 ) ( 18,319 )
Net current assets (liabilities): 1,141 3,721
Total assets less current liabilities: 10,376 14,586
Creditors: amounts falling due after more than one year: 8 ( 0 ) ( 0 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 10,376 14,586

The notes form part of these financial statements

ANGEL IT SYSTEMS LIMITED

Balance sheet continued

As at 31 October 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 10,276 14,486
Shareholders funds: 10,376 14,586

For the year ending 31 October 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Charles D Campbell
Status: Director

The notes form part of these financial statements

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 2% on cost or revalued amounts, Plant and Machinery - 15% on cost, Fixtures and fittings -
    10% on cost,
    Motor vehicles - 25% on cost.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 3

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 3. Off balance sheet disclosure

    No

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Dividends


2023
£

2022
£
Dividends paid 60,000 40,000

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Tangible assets

Office equipment Total
Cost £ £
At 01 November 2022 10,865 10,865
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 October 2023 10,865 10,865
Depreciation
At 01 November 2022 0 0
Charge for year 1,630 1,630
On disposals - -
Other adjustments - -
At 31 October 2023 1,630 1,630
Net book value
At 31 October 2023 9,235 9,235
At 31 October 2022 10,865 10,865

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Debtors


2023
£

2022
£
Trade debtors 3,966 14,210
Total 3,966 14,210

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 1,050 12,963
Taxation and social security 5,775 5,356
Total 6,825 18,319

ANGEL IT SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

8.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 0
Total 0 0