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Registered number: 12247059









IT NATURALLY LTD.









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
IT NATURALLY LTD.
REGISTERED NUMBER: 12247059

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2024
2023
2023
                                                                       Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
50,384
78,597

Current assets
  

Debtors: amounts falling due within one year
 5 
627,295
1,135,850

Cash at bank and in hand
 6 
1,089,207
853,050

  
1,716,502
1,988,900

Creditors: amounts falling due within one year
 7 
(612,791)
(816,560)

Net current assets
  
 
 
1,103,711
 
 
1,172,340

Net assets
  
1,154,095
1,250,937


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
1,153,995
1,250,837

  
1,154,095
1,250,937


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R T H Gardner
J P Bishop
Director
Director


Date: 26 February 2025
Date:26 February 2025

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

IT Naturally Ltd. ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Lakeside A Lynch Wood Park, Peterborough Business Park, Peterborough, Cambridgeshire, PE2 6FY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.5

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33.33% Straight line
Furniture, fittings and equipment
-
33.33% Straight line
Office equipment
-
33.33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

  
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 49 (2023 - 42).

Page 4

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Plant and machinery
Furniture, fittings and equipment
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
50,000
63,847
66,549
180,396


Additions
-
1,630
16,561
18,191


Disposals
-
-
(619)
(619)



At 31 October 2024

50,000
65,477
82,491
197,968



Depreciation


At 1 November 2023
47,222
24,046
30,531
101,799


Charge for the year on owned assets
2,778
21,613
22,013
46,404


Disposals
-
-
(619)
(619)



At 31 October 2024

50,000
45,659
51,925
147,584



Net book value



At 31 October 2024
-
19,818
30,566
50,384



At 31 October 2023
2,778
39,801
36,018
78,597


5.


Debtors

2024
2023
£
£

Trade debtors
396,300
748,807

Other debtors
-
59,057

Prepayments and accrued income
230,995
327,986

627,295
1,135,850


Page 5

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,089,207
853,050



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
55,040
162,428

Corporation tax
153,225
144,709

Other taxation and social security
106,463
70,827

Other creditors
24,020
16,870

Accruals and deferred income
274,043
421,726

612,791
816,560



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £90,553 (2023 - £78,559). Contributions totalling £15,667 (2023 - £17,393) were payable to the fund at the balance sheet date and are included in creditors.

Page 6

 
IT NATURALLY LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
54,335
54,335

Later than 1 year and not later than 5 years
104,141
158,476

158,476
212,811


11.


Controlling party

The controlling party of the company is its directors by virtue of their 100% majority shareholding.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2024 was unqualified.

The audit report was signed on 5 March 2025 by Ricky Downey (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 7