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REGISTERED NUMBER: 09112502 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

EMPOWER IT SOLUTIONS LTD

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EMPOWER IT SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr J Smy
Mrs S Smy





REGISTERED OFFICE: Cedar House
Mill Hill
Capel St. Mary
Ipswich
IP9 2JE





REGISTERED NUMBER: 09112502 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 950 760
Tangible assets 5 52,920 73,490
Investments 6 250 150
54,120 74,400

CURRENT ASSETS
Debtors 7 850,330 389,545
Cash at bank and in hand 214,896 422,611
1,065,226 812,156
CREDITORS
Amounts falling due within one year 8 263,422 144,838
NET CURRENT ASSETS 801,804 667,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

855,924

741,718

CREDITORS
Amounts falling due after more than one
year

9

35,562

43,212
NET ASSETS 820,362 698,506

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 820,252 698,396
SHAREHOLDERS' FUNDS 820,362 698,506

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

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

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 17 January 2025 and were signed on its behalf by:




Mr J Smy - Director



Mrs S Smy - Director


EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Empower IT Solutions Ltd 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.

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

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.

Website costs are being amortised evenly over their estimated useful life of five years.

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 etc - 33.33% on cost, 25% on cost and 25% on reducing balance

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

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.

Government assisted loans
Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 950
Additions 475
At 30 June 2024 1,425
AMORTISATION
At 1 July 2023 190
Charge for year 285
At 30 June 2024 475
NET BOOK VALUE
At 30 June 2024 950
At 30 June 2023 760

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 151,818
Additions 8,729
Disposals (25,312 )
At 30 June 2024 135,235
DEPRECIATION
At 1 July 2023 78,328
Charge for year 29,008
Eliminated on disposal (25,021 )
At 30 June 2024 82,315
NET BOOK VALUE
At 30 June 2024 52,920
At 30 June 2023 73,490

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 July 2023 100 50 150
Additions 100 - 100
At 30 June 2024 200 50 250
NET BOOK VALUE
At 30 June 2024 200 50 250
At 30 June 2023 100 50 150

EMPOWER IT SOLUTIONS LTD (REGISTERED NUMBER: 09112502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,688 22,281
Amounts owed by group undertakings 416,446 29,605
Other debtors 419,196 337,659
850,330 389,545

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,233 7,233
Trade creditors 62,426 54,791
Taxation and social security 104,245 43,181
Other creditors 89,518 39,633
263,422 144,838

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 35,562 42,795
Other creditors - 417
35,562 43,212

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,630 13,863

10. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £828,219 (2023: £364,597) due from companies in which the directors have an interest.