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Registered Number: 10755345
England and Wales

 

 

 

GSP IT SOLUTIONS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
  2024   2023
    £ £   £ £
Fixed assets   2,142      2,612 
Current assets 656      3,420   
Creditors: amount falling due within one year (2,708)      
Net current assets   (2,052)     3,420 
Total assets less current liabilities   90      6,032 
Creditors: amount falling due after more than one year   (7,800)     (11,400)
Net assets   (7,710)     (5,368)
 

         
Capital and reserves   (7,710)     (5,368)
 
NOTES TO THE ACCOUNTS

General Information
GSP IT Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 10755345, registration address Office Gold, Building 3, Chiswick Park, 566 Chiswick High Road, London, W4 5YA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 18 Reducing Balance
2.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2023 4,306    4,306 
Additions  
Disposals  
At 31 March 2024 4,306    4,306 
Depreciation
At 01 April 2023 1,694    1,694 
Charge for year 470    470 
On disposals  
At 31 March 2024 2,164    2,164 
Net book values
Closing balance as at 31 March 2024 2,142    2,142 
Opening balance as at 01 April 2023 2,612    2,612 


3.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the board of directors on 20 November 2024 and were signed on its behalf by:


--------------------------------
Mr Sunil Kumar Geareddy
Director
1