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REGISTERED NUMBER: 03680558 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Solutions 4 IT Limited

Solutions 4 IT Limited (Registered number: 03680558)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solutions 4 IT Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Horan
A P Fletcher





SECRETARY: M Horan





REGISTERED OFFICE: Forge House
Mucklow Hill
Halesowen
West Midlands
B62 8DN





REGISTERED NUMBER: 03680558 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Solutions 4 IT Limited (Registered number: 03680558)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,929 192,479
Investments 5 1 1
152,930 192,480

CURRENT ASSETS
Stocks 71,416 67,254
Debtors 6 546,035 458,983
Cash at bank 534,702 547,820
1,152,153 1,074,057
CREDITORS
Amounts falling due within one year 7 474,509 396,759
NET CURRENT ASSETS 677,644 677,298
TOTAL ASSETS LESS CURRENT
LIABILITIES

830,574

869,778

CREDITORS
Amounts falling due after more than one year 8 (106,915 ) (135,783 )

PROVISIONS FOR LIABILITIES (38,231 ) (41,113 )
NET ASSETS 685,428 692,882

CAPITAL AND RESERVES
Called up share capital 620 620
Capital redemption reserve 9 40 40
Retained earnings 9 684,768 692,222
SHAREHOLDERS' FUNDS 685,428 692,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Solutions 4 IT Limited (Registered number: 03680558)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:





M Horan - Director


Solutions 4 IT Limited (Registered number: 03680558)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Solutions 4 IT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

Solutions 4 IT Limited (Registered number: 03680558)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 87,884 47,500 158,791 294,175
DEPRECIATION
At 1 April 2023 79,567 3,135 18,994 101,696
Charge for year 1,678 2,922 34,950 39,550
At 31 March 2024 81,245 6,057 53,944 141,246
NET BOOK VALUE
At 31 March 2024 6,639 41,443 104,847 152,929
At 31 March 2023 8,317 44,365 139,797 192,479


5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 419,844 332,001
Other debtors 126,191 126,982
546,035 458,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 18,868 18,867
Trade creditors 153,119 152,204
Taxation and social security 135,108 69,233
Other creditors 157,414 146,455
474,509 396,759

Solutions 4 IT Limited (Registered number: 03680558)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 95,248 114,116
106,915 135,783

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 692,222 40 692,262
Profit for the year 163,547 163,547
Dividends (171,001 ) (171,001 )
At 31 March 2024 684,768 40 684,808

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M Horan
Balance outstanding at start of year 34,226 34,540
Amounts advanced 34,550 34,236
Amounts repaid (34,550 ) (34,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,226 34,226