ICT Solutions Limited 08830512 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Computer Consultancy Activities Digita Accounts Production Advanced 6.30.9574.0 true true 08830512 2024-01-01 2024-12-31 08830512 2024-12-31 08830512 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-12-31 08830512 core:CurrentFinancialInstruments 2024-12-31 08830512 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 08830512 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 08830512 core:FurnitureFittingsToolsEquipment 2024-12-31 08830512 core:MotorVehicles 2024-12-31 08830512 bus:SmallEntities 2024-01-01 2024-12-31 08830512 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08830512 bus:FilletedAccounts 2024-01-01 2024-12-31 08830512 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08830512 bus:RegisteredOffice 2024-01-01 2024-12-31 08830512 bus:Director1 2024-01-01 2024-12-31 08830512 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-01-01 2024-12-31 08830512 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08830512 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 08830512 core:MotorVehicles 2024-01-01 2024-12-31 08830512 core:PlantMachinery 2024-01-01 2024-12-31 08830512 countries:England 2024-01-01 2024-12-31 08830512 2023-12-31 08830512 core:FurnitureFittingsToolsEquipment 2023-12-31 08830512 core:MotorVehicles 2023-12-31 08830512 2023-01-01 2023-12-31 08830512 2023-12-31 08830512 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-12-31 08830512 core:CurrentFinancialInstruments 2023-12-31 08830512 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08830512 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08830512 core:FurnitureFittingsToolsEquipment 2023-12-31 08830512 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08830512


 

ICT Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

ICT Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

ICT Solutions Limited

Company Information

Director

Mr Carl Thomas Murphy

Registered office

Studio H
Baltic Creative Campus
49 Jamaica Street
Liverpool
L1 0AH

Accountants

Phil Owen & Co Limited
Chartered Accountant
22 Pall Mall
Liverpool
Merseyside
L3 6AL

 

ICT Solutions Limited

(Registration number: 08830512)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

44,691

57,752

Current assets

 

Stocks

5

2,019

4,848

Debtors

6

46,620

10,747

Cash at bank and in hand

 

420,751

316,504

 

469,390

332,099

Creditors: Amounts falling due within one year

7

(135,817)

(94,112)

Net current assets

 

333,573

237,987

Total assets less current liabilities

 

378,264

295,739

Creditors: Amounts falling due after more than one year

7

(200,000)

(125,000)

Net assets

 

178,264

170,739

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

178,164

170,639

Shareholders' funds

 

178,264

170,739

For the financial year ending 31 December 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 12 February 2025
 

.........................................
Mr Carl Thomas Murphy
Director

 

ICT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Studio H
Baltic Creative Campus
49 Jamaica Street
Liverpool
L1 0AH

These financial statements were authorised for issue by the director on 12 February 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ICT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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

33% Reducing balance

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

ICT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

ICT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

12,881

60,226

73,107

Additions

2,990

-

2,990

At 31 December 2024

15,871

60,226

76,097

Depreciation

At 1 January 2024

4,193

11,161

15,354

Charge for the year

3,520

12,532

16,052

At 31 December 2024

7,713

23,693

31,406

Carrying amount

At 31 December 2024

8,158

36,533

44,691

At 31 December 2023

8,688

49,064

57,752

5

Stocks

2024
£

2023
£

Other inventories

2,019

4,848

6

Debtors

Current

2024
£

2023
£

Trade debtors

18,085

7,366

Prepayments

3,625

3,381

Other debtors

24,910

-

 

46,620

10,747

 

ICT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

29,618

4,396

Taxation and social security

105,999

88,534

Accruals and deferred income

200

-

Other creditors

-

1,182

135,817

94,112

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

200,000

125,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Contributions paid to money purchase schemes

95,000

56,000