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Company Registration No. 11403130 (England and Wales)
Italic Ltd Unaudited accounts for the year ended 30 June 2024
Italic Ltd Company Information for the year ended 30 June 2024
Director
David William Cooper
Company Number
11403130 (England and Wales)
Registered Office
5 Oak Park Alderley Edge SK9 7GS England
Accountants
Power Accountants, Business and Tax Advisors Limited Royal House, 14 Upper Northgate Street Chester CH1 4EE
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Italic Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
256 
510 
Current assets
Debtors
- 
536 
Cash at bank and in hand
148,833 
144,609 
148,833 
145,145 
Creditors: amounts falling due within one year
(10,712)
(12,069)
Net current assets
138,121 
133,076 
Net assets
138,377 
133,586 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
138,376 
133,585 
Shareholders' funds
138,377 
133,586 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
David William Cooper Director Company Registration No. 11403130
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Italic Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Italic Ltd is a private company, limited by shares, registered in England and Wales, registration number 11403130. The registered office is 5 Oak Park, Alderley Edge, SK9 7GS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33%
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Italic Ltd Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2023
2,842 
At 30 June 2024
2,842 
Depreciation
At 1 July 2023
2,332 
Charge for the year
254 
At 30 June 2024
2,586 
Net book value
At 30 June 2024
256 
At 30 June 2023
510 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
536 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
772 
9,781 
Taxes and social security
9,005 
1,286 
Loans from directors
935 
1,002 
10,712 
12,069 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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