2023-11-012024-10-312024-10-31false07398656Adam Booth IT Services 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Adam Booth IT Services Limited

Registered Number
07398656
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

Adam Booth IT Services Limited
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Robert Adam Booth

Registered Address

18 Eastwood
Southburn Rise, Sacriston
Co Durham
DH7 6UR

Registered Number

07398656 (England and Wales)
Adam Booth IT Services Limited
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32329
2329
Current assets
Debtors5186-
Cash at bank and on hand31,39414,072
31,58014,072
Creditors amounts falling due within one year6(16,466)(11,084)
Net current assets (liabilities)15,1142,988
Total assets less current liabilities15,1373,017
Net assets15,1373,017
Capital and reserves
Called up share capital100100
Profit and loss account15,0372,917
Shareholders' funds15,1373,017
The financial statements were approved and authorised for issue by the Director on 17 March 2025, and are signed on its behalf by:
Robert Adam Booth
Director
Registered Company No. 07398656
Adam Booth IT Services Limited
Notes to the Financial Statements
for the year ended 31 October 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Office Equipment-4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 235575321,089
At 31 October 245575321,089
Depreciation and impairment
At 01 November 235285321,060
Charge for year6-6
At 31 October 245345321,066
Net book value
At 31 October 2423-23
At 31 October 2329-29
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income186-
Total186-
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-210
Taxation and social security11,8737,490
Other creditors2,9931,783
Accrued liabilities and deferred income1,6001,601
Total16,46611,084
Short term creditors are measured at transaction price (which is usually the invoice 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.