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Registered number: 11558623
Streamline IT Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11558623
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,242 2,056
28,242 2,056
CURRENT ASSETS
Debtors 5 26,932 17,318
Cash at bank and in hand 30,849 52,384
57,781 69,702
Creditors: Amounts Falling Due Within One Year 6 (26,283 ) (26,808 )
NET CURRENT ASSETS (LIABILITIES) 31,498 42,894
TOTAL ASSETS LESS CURRENT LIABILITIES 59,740 44,950
Creditors: Amounts Falling Due After More Than One Year 7 (23,095 ) (5,209 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (537 ) (390 )
NET ASSETS 36,108 39,351
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 36,107 39,350
SHAREHOLDERS' FUNDS 36,108 39,351
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M A Dew
Director
29 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Streamline IT Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11558623 . The registered office is 10 Nursery Gardens, Whittlesey, Peterborough, PE7 1TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor vehicles 25% reducing balance
Fixtures & fittings 25% reducing balance
Computer equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method
2.8. Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. 
2.9. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 
2.10. Interest income
Interest income is recognised in the profit and loss using the effective interest method. 
2.11. Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor vehicles Fixtures & fittings Computer equipment Total
£ £ £ £
Cost
As at 1 October 2023 - - 3,085 3,085
Additions 30,999 400 3,231 34,630
As at 30 September 2024 30,999 400 6,316 37,715
Depreciation
As at 1 October 2023 - - 1,029 1,029
Provided during the period 7,750 50 644 8,444
As at 30 September 2024 7,750 50 1,673 9,473
Net Book Value
As at 30 September 2024 23,249 350 4,643 28,242
As at 1 October 2023 - - 2,056 2,056
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,596 13,993
Other debtors 4,336 3,325
26,932 17,318
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,750 -
Trade creditors - 3,097
Bank loans and overdrafts 3,101 3,025
Other creditors 2,633 1,822
Taxation and social security 17,799 18,864
26,283 26,808
Net obligations under finance lease and hire purchase contracts of £2,750 (2023: £Nil), due within one year, are secured by the company.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,985 -
Bank loans 2,110 5,209
23,095 5,209
Net obligations under finance lease and hire purchase contracts of £20,985 (2023: £Nil), due after more than one year, are secured by the company.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Pension Commitments
The company contributes to a defined contribution scheme for its employees. At the balance sheet date there were outstanding contributions of £329 (2023: £337). This amount is included within other creditors.
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