Company Registration No. NI621876 (Northern Ireland)
Total IT Systems Ltd
Unaudited accounts
for the year ended 31 December 2024
Total IT Systems Ltd
Unaudited accounts
Contents
Total IT Systems Ltd
Company Information
for the year ended 31 December 2024
Directors
Siobhan Wray
John Fitzpatrick
Company Number
NI621876 (Northern Ireland)
Registered Office
7 The Marketplace
Derrylin
Enniskillen
Fermanagh
BT92 9AN
Accountants
EMC Accountancy
21 Railway Street
Belcoo
Fermanagh
BT93 5FJ
Accountants' report to the Board of Directors on the unaudited financial statements of Total IT Systems Ltd for the year ended 31 December 2024
In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made solely to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors as a body, for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Chartered Accountants Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet for the year ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
EMC Accountancy
Chartered Accountants
21 Railway Street
Belcoo
Fermanagh
BT93 5FJ
5 December 2024
Total IT Systems Ltd
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
32,011
160,081
Creditors: amounts falling due within one year
(32,016)
(49,199)
Net current (liabilities)/assets
(5)
157,119
Net (liabilities)/assets
(5)
177,023
Called up share capital
2
2
Profit and loss account
(7)
177,021
Shareholders' funds
(5)
177,023
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by
Siobhan Wray
Director
Company Registration No. NI621876
Total IT Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
Total IT Systems Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI621876. The registered office is 7 The Marketplace , Derrylin, Enniskillen, Fermanagh, BT92 9AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
14,680
44,950
7,875
67,505
Disposals
(14,680)
(44,950)
(7,875)
(67,505)
At 31 December 2024
-
-
-
-
At 1 January 2024
13,442
28,996
5,163
47,601
On disposals
(13,442)
(28,996)
(5,163)
(47,601)
At 31 December 2024
-
-
-
-
At 31 December 2024
-
-
-
-
At 31 December 2023
1,238
15,954
2,712
19,904
Total IT Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
24,200
11,915
Taxes and social security
-
36
Loans from directors
5
17,642
7
Average number of employees
During the year the average number of employees was 8 (2023: 8).