Armour IT Ltd
Registered number: 06618289
Statement of Financial Position
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 329,248 211,840
Current assets
Cash at bank and in hand 3,121 100
Creditors: amounts falling due within one year 4 (314,948) (210,225)
Net current liabilities (311,827) (210,125)
Net assets 17,421 1,715
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,321 1,615
Shareholders' funds 17,421 1,715
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Kenny
Director
Approved by the board on 20 March 2025
Armour IT Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2023 211,840
Additions 117,408
At 30 June 2024 329,248
Net book value
At 30 June 2024 329,248
At 30 June 2023 211,840
Freehold land and buildings: 2024 2023
£ £
Historical cost 329,248 211,840
329,248 211,840
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 648 -
Accruals 960 600
Corporation tax 3,684 510
Other creditors 309,656 209,115
314,948 210,225
5 Other information
Armour IT Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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