ItsMy Limited 05109397 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is graphics for clothing, vehicles and signs Digita Accounts Production Advanced 6.30.9574.0 true 05109397 2023-05-01 2024-04-30 05109397 2024-04-30 05109397 bus:OrdinaryShareClass1 2024-04-30 05109397 core:CurrentFinancialInstruments 2024-04-30 05109397 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 05109397 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 05109397 core:FurnitureFittingsToolsEquipment 2024-04-30 05109397 bus:SmallEntities 2023-05-01 2024-04-30 05109397 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05109397 bus:FilletedAccounts 2023-05-01 2024-04-30 05109397 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05109397 bus:RegisteredOffice 2023-05-01 2024-04-30 05109397 bus:Director1 2023-05-01 2024-04-30 05109397 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05109397 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05109397 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-01 2024-04-30 05109397 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 05109397 core:PlantMachinery 2023-05-01 2024-04-30 05109397 countries:England 2023-05-01 2024-04-30 05109397 2023-04-30 05109397 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 05109397 core:FurnitureFittingsToolsEquipment 2023-04-30 05109397 2022-05-01 2023-04-30 05109397 2023-04-30 05109397 bus:OrdinaryShareClass1 2023-04-30 05109397 core:CurrentFinancialInstruments 2023-04-30 05109397 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 05109397 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05109397

ItsMy Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

ItsMy Limited

(Registration number: 05109397)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,409

4,215

Current assets

 

Stocks

6

4,000

4,004

Debtors

7

920

242

Cash at bank and in hand

 

200

754

 

5,120

5,000

Creditors: Amounts falling due within one year

8

(33,008)

(34,794)

Net current liabilities

 

(27,888)

(29,794)

Total assets less current liabilities

 

(24,479)

(25,579)

Provisions for liabilities

(648)

(801)

Net liabilities

 

(25,127)

(26,380)

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

(25,129)

(26,382)

Shareholders' deficit

 

(25,127)

(26,380)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 January 2025
 

.........................................
John Franklin-Pryce
Director

 

ItsMy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8 Larch Close
Underwood
Nottingham
NG16 5FA

These financial statements were authorised for issue by the director on 4 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

ItsMy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents trademarks and licences

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

ItsMy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 May 2023

517

517

At 30 April 2024

517

517

Amortisation

At 1 May 2023

517

517

At 30 April 2024

517

517

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

10,093

10,093

Additions

46

46

At 30 April 2024

10,139

10,139

Depreciation

At 1 May 2023

5,878

5,878

Charge for the year

852

852

At 30 April 2024

6,730

6,730

Carrying amount

At 30 April 2024

3,409

3,409

At 30 April 2023

4,215

4,215

6

Stocks

2024
£

2023
£

Other inventories

4,000

4,004

 

ItsMy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

920

242

 

920

242

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

642

500

Other creditors

32,366

34,294

33,008

34,794

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2