Company registration number 09210483 (England and Wales)
ITSIMPLE ANALYTICS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ITSIMPLE ANALYTICS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ITSIMPLE ANALYTICS LTD (REGISTERED NUMBER: 09210483)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
186
248
Current assets
Debtors
4
834,087
756,923
Cash at bank and in hand
5,859
61,748
839,946
818,671
Creditors: amounts falling due within one year
5
(194,963)
(214,050)
Net current assets
644,983
604,621
Total assets less current liabilities
645,169
604,869
Creditors: amounts falling due after more than one year
6
(5,333)
(13,333)
Provisions for liabilities
(46)
(62)
Net assets
639,790
591,474
Capital and reserves
Called up share capital
111
111
Profit and loss reserves
639,679
591,363
Total equity
639,790
591,474
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ITSIMPLE ANALYTICS LTD (REGISTERED NUMBER: 09210483)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 November 2024
Ms A Savvidou
Director
ITSIMPLE ANALYTICS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
itSimple Analytics Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Perrys Accountants, The Square, Wrotham, Kent, TN15 7AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably; and
The costs incurred and the costs to complete the contract can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ITSIMPLE ANALYTICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 October 2023 and 30 September 2024
1,043
Depreciation and impairment
At 1 October 2023
795
Depreciation charged in the year
62
At 30 September 2024
857
Carrying amount
At 30 September 2024
186
At 30 September 2023
248
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,200
Other debtors
834,087
743,723
834,087
756,923
ITSIMPLE ANALYTICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,000
8,000
Trade creditors
10,001
17,145
Taxation and social security
16,504
30,492
Other creditors
160,458
158,413
194,963
214,050
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,333
13,333
7
Related party transactions
Within other debtors is a balance of £833,876 (2023: £742,850) owed by a connected company.