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Registered Number: 09553916
England and Wales

 

 

 

GARANTIS IT SOLUTIONS LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors T Kliuchynskaya
P S Ballard
Registered Number 09553916
Registered Office 11 Send Road
Reading
Berkshire
RG4 8EH
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 14,024    4,581 
14,024    4,581 
Current assets      
Debtors 4   396 
Cash at bank and in hand 516,298    427,506 
516,298    427,902 
Creditors: amount falling due within one year 5 (48,705)   (70,740)
Net current assets 467,593    357,162 
 
Total assets less current liabilities 481,617    361,743 
Net assets 481,617    361,743 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 481,517    361,643 
Shareholders' funds 481,617    361,743 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 October 2024 and were signed on its behalf by:


-------------------------------
T Kliuchynskaya
Director
2
General Information
GARANTIS IT SOLUTIONS LTD. is a private company, limited by shares, registered in England and Wales, registration number 09553916, registration address 11 Send Road, Reading, Berkshire, RG4 8EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank and shareholder loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 May 2023 11,652    11,652 
Additions 12,068    12,068 
Disposals  
At 30 April 2024 23,720    23,720 
Depreciation
At 01 May 2023 7,071    7,071 
Charge for year 2,625    2,625 
On disposals  
At 30 April 2024 9,696    9,696 
Net book values
Closing balance as at 30 April 2024 14,024    14,024 
Opening balance as at 01 May 2023 4,581    4,581 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income   396 
  396 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 43   
Corporation Tax 35,177    60,986 
PAYE & Social Security 2,605   
VAT 1,896    1,026 
Accrued Expenses 750    750 
Other Creditors 256   
Directors' Current Accounts 7,978    7,978 
48,705    70,740 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3