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IT SOLUTION KOSTA LTD

Registered Number
11395888
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

IT SOLUTION KOSTA LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

KOSTADINOV, Konstantin Seryozhov

Registered Address

27 Stable Close
Maidenbower
Crawley
RH10 7QN

Registered Number

11395888 (England and Wales)
IT SOLUTION KOSTA LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets1,3555,420
1,3555,420
Current assets
Debtors4,8632,449
Cash at bank and on hand6,5333,678
11,3966,127
Creditors amounts falling due within one year(26,446)(19,184)
Net current assets (liabilities)(15,050)(13,057)
Total assets less current liabilities(13,695)(7,637)
Creditors amounts falling due after one year(25,780)(30,746)
Net assets(39,475)(38,383)
Capital and reserves
Called up share capital11
Profit and loss account(39,476)(38,384)
Shareholders' funds(39,475)(38,383)
The financial statements were approved and authorised for issue by the Director on 18 February 2025, and are signed on its behalf by:
KOSTADINOV, Konstantin Seryozhov
Director
Registered Company No. 11395888
IT SOLUTION KOSTA LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Vehicles5
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11