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REGISTERED NUMBER: 08683863 (England and Wales)



















Financial Statements

for the Period

1 April 2023 to 5 April 2024

for

SPIDER IT SOLUTIONS LTD

SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)






Contents of the Financial Statements
for the Period 1 April 2023 to 5 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,039 3,565

CURRENT ASSETS
Debtors 5 215,714 217,089
Cash at bank and in hand 27,156 108,641
242,870 325,730
CREDITORS
Amounts falling due within one year 6 30,418 48,872
NET CURRENT ASSETS 212,452 276,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,491

280,423

PROVISIONS FOR LIABILITIES 760 677
NET ASSETS 214,731 279,746

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 214,631 279,646
SHAREHOLDERS' FUNDS 214,731 279,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)

Balance Sheet - continued
5 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





Parmjit Ahuja - Director


SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)

Notes to the Financial Statements
for the Period 1 April 2023 to 5 April 2024

1. STATUTORY INFORMATION

Spider IT Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08683863

Registered office: 10 Elm Lane
Lower Earley
Reading
Berkshire
RG6 5UF

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment - 25% on reducing balance basis

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 5 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 11,498
Additions 373
At 5 April 2024 11,871
DEPRECIATION
At 1 April 2023 7,933
Charge for period 899
At 5 April 2024 8,832
NET BOOK VALUE
At 5 April 2024 3,039
At 31 March 2023 3,565

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,804 15,180
Other debtors 201,910 201,909
215,714 217,089

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,528 19,666
Other creditors 27,890 29,206
30,418 48,872

SPIDER IT SOLUTIONS LTD (REGISTERED NUMBER: 08683863)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 5 April 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 5 April 2024 and the year ended 31 March 2023:

2024 2023
£    £   
Parmjit Ahuja and Neeta Ahuja
Balance outstanding at start of period (21,236 ) (43,583 )
Amounts advanced 37,364 61,729
Amounts repaid (35,158 ) (39,382 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (19,030 ) (21,236 )

During the year dividends issued = £26,000 (£31,000 in 2023)

8. RELATED PARTY DISCLOSURES

The current year balance is £200,502 which is due to Spider (Holdings) Ltd which is a related party transaction with no terms attached. Last year it was £200,501