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Company registration number: 14703931
ITS INVESTMENTS LIMITED
Unaudited filleted abridged financial statements
31 March 2024
ITS INVESTMENTS LIMITED
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
ITS INVESTMENTS LIMITED
Directors and other information
Director JASWINDER SINGH
Company number 14703931
Registered office 32A Albion Street
CASTLEFORD
WEST YORKSHIRE
WF10 1EN
Business address 32A ALBION STREET
CASTLEFORD
WEST YORKSHIRE
WFI0 1EN
Accountants CLAVANE ACCOUNTANCY LIMITED
6 TRANS WALK
CHURCH FENTON
TADCASTER
NORTH YORKSHIRE
LS24 9RR
ITS INVESTMENTS LIMITED
Abridged statement of financial position
31 March 2024
2024
Note £ £
Current assets
Debtors 1,878,824
_______
1,878,824
Creditors: amounts falling due
within one year ( 1,884,460)
_______
Net current liabilities ( 5,636)
_______
Total assets less current liabilities ( 5,636)
_______
Net liabilities ( 5,636)
_______
Capital and reserves
Called up share capital 100
Profit and loss account ( 5,736)
_______
Shareholder deficit ( 5,636)
_______
For the year ending 31 March 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
JASWINDER SINGH
Director
Company registration number: 14703931
ITS INVESTMENTS LIMITED
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2023 - - -
Loss for the year ( 5,736) ( 5,736)
_______ _______ _______
Total comprehensive income for the year - ( 5,736) ( 5,736)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 March 2024 100 ( 5,736) ( 5,636)
_______ _______ _______
ITS INVESTMENTS LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in ENGLAND AND WALES. The address of the registered office is 32A Albion Street, CASTLEFORD, WEST YORKSHIRE, WF10 1EN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1
5. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
2024 2024
£ £
IN THE STYLE FASHION LIMITED LOAN 2,178,824 2,178,824
_______ _______
During the period the company charged IN THE STYLE FASHION LIMITED £408,000 for loan management and £570,824 for interest on loans. IN THE STYLE FASHION LIMITED is ultimately controlledby Mr Jaswinder Singh, the director of ITS INVESTMENTS LIMITED .