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REGISTERED NUMBER: 05115366 (England and Wales)















B2B IT Services Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






B2B IT Services Limited (Registered number: 05115366)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B2B IT Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: L Hodge
J A C Hurst





REGISTERED OFFICE: S4C Media Centre
Parc Ty Glas
Cardiff
Glamorgan
CF14 5DU





REGISTERED NUMBER: 05115366 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

B2B IT Services Limited (Registered number: 05115366)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 493,404 36,591
Tangible assets 5 49,276 45,315
Investments 6 1,100 489,375
543,780 571,281

CURRENT ASSETS
Stocks 8,046 4,546
Debtors 7 282,647 199,940
Cash at bank 300,964 202,112
591,657 406,598
CREDITORS
Amounts falling due within one year 8 564,557 372,293
NET CURRENT ASSETS 27,100 34,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,880

605,586

CREDITORS
Amounts falling due after more than one year 9 (82,419 ) (150,931 )

PROVISIONS FOR LIABILITIES (9,362 ) (7,288 )

ACCRUALS AND DEFERRED INCOME (29,364 ) -
NET ASSETS 449,735 447,367

CAPITAL AND RESERVES
Called up share capital 140 140
Capital redemption reserve 60 60
Retained earnings 449,535 447,167
SHAREHOLDERS' FUNDS 449,735 447,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

B2B IT Services Limited (Registered number: 05115366)

Balance Sheet - continued
30 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 9 January 2025 and were signed on its behalf by:





L Hodge - Director


B2B IT Services Limited (Registered number: 05115366)

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

1. STATUTORY INFORMATION

B2B IT Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about B2B IT Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is measured recognised when goods are delivered and legal title has passed. It is recognised at the fair value of the consideration received or receivable. Revenue is reduced for estimated customers returns, rebates and other similar allowances.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of 10 years.

Goodwill, being the amount estimated to relate to the trade hived up in the current year, is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 50% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is made for obsolete, slow-moving or defective items where appropriate.


B2B IT Services Limited (Registered number: 05115366)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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.

Taxation
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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rental paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 24 ) .

B2B IT Services Limited (Registered number: 05115366)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 60,986
Reclassification/transfer 487,275
At 30 April 2024 548,261
AMORTISATION
At 1 May 2023 24,395
Charge for year 30,462
At 30 April 2024 54,857
NET BOOK VALUE
At 30 April 2024 493,404
At 30 April 2023 36,591

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 24,234 20,175 2,000 37,762 84,171
Additions 10,126 514 - 9,739 20,379
At 30 April 2024 34,360 20,689 2,000 47,501 104,550
DEPRECIATION
At 1 May 2023 11,545 6,945 1,583 18,783 38,856
Charge for year 5,281 2,064 417 8,656 16,418
At 30 April 2024 16,826 9,009 2,000 27,439 55,274
NET BOOK VALUE
At 30 April 2024 17,534 11,680 - 20,062 49,276
At 30 April 2023 12,689 13,230 417 18,979 45,315

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 May 2023 487,375 2,000 489,375
Disposals - (1,000 ) (1,000 )
Reclassification/transfer (487,275 ) - (487,275 )
At 30 April 2024 100 1,000 1,100
NET BOOK VALUE
At 30 April 2024 100 1,000 1,100
At 30 April 2023 487,375 2,000 489,375

B2B IT Services Limited (Registered number: 05115366)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 201,989 143,702
Other debtors 80,658 56,238
282,647 199,940

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 226,616 144,690
Amounts owed to group undertakings 6,100 14,084
Taxation and social security 219,240 101,450
Other creditors 102,601 102,069
564,557 372,293

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 10,833 20,833
Other creditors 71,586 130,098
82,419 150,931

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Other Loans 149,918 207,732

Development Bank of Wales holds a charge over the company's assets.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B2B IT Services Holdings Limited.