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Company Registration No. 7951510 (England and Wales)
24/7 IT Limited Unaudited accounts for the year ended 29 February 2024
24/7 IT Limited Unaudited accounts Contents
Page
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24/7 IT Limited Company Information for the year ended 29 February 2024
Director
Nicholas Rogers
Company Number
7951510 (England and Wales)
Registered Office
Venta House, 9a Port Road Maesglas Retail Park Newport NP20 2NS United Kingdom
Accountants
Evans Entwistle Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of 24/7 IT Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 24/7 IT Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL 31 October 2024
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24/7 IT Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
8,971 
2,791 
Cash at bank and in hand
40,819 
38,339 
49,790 
41,130 
Creditors: amounts falling due within one year
(3,359)
(1,943)
Net current assets
46,431 
39,187 
Total assets less current liabilities
46,431 
39,187 
Creditors: amounts falling due after more than one year
(36,115)
(32,885)
Net assets
10,316 
6,302 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
10,216 
6,202 
Shareholders' funds
10,316 
6,302 
For the year ending 29 February 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 31 October 2024 and were signed on its behalf by
Nicholas Rogers Director Company Registration No. 7951510
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24/7 IT Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
24/7 IT Limited is a private company, limited by shares, registered in England and Wales, registration number 7951510. The registered office is Venta House, 9a Port Road, Maesglas Retail Park, Newport, NP20 2NS, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,971 
2,791 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,000 
1,385 
Trade creditors
- 
339 
Taxes and social security
1,339 
219 
Accruals
1,020 
- 
3,359 
1,943 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
36,115 
32,885 
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24/7 IT Limited Notes to the Accounts for the year ended 29 February 2024
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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