Registered number: 05210896 | ||||||||
FOR THE YEAR ENDED 30/09/2024 | ||||||||
Prepared By: | ||||||||
Greywalls Accountants Limited | ||||||||
13 | ||||||||
Isis Lake | ||||||||
Cirencester | ||||||||
Gloucestershire | ||||||||
GL7 5LT |
Our IT Services Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30/09/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Gloucestershire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05210896 | ||||||||
ACCOUNTANTS | ||||||||
Greywalls Accountants Limited | ||||||||
13 | ||||||||
Isis Lake | ||||||||
Cirencester | ||||||||
Gloucestershire | ||||||||
GL7 5LT |
Our IT Services Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED30/09/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Our IT Services Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
344,653 | 577,538 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 100,873 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 17,497 | 28,391 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 110,309 | 81,048 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Our IT Services Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30/09/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. | ||||||||
Depreciation is provided on the following basis: | ||||||||
Long Leasehold Properties | reducing balance15% | |||||||
Fixtures And Fittings | reducing balance15% | |||||||
Equipment | reducing balance25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Functional Currency | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Our IT Services Limited | ||||||||
1f. Turnover | ||||||||
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: | ||||||||
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisifed; | ||||||||
- the amount of turnover can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably. |
2. TANGIBLE FIXED ASSETS | ||||||||
Long Leasehold | Fixtures | |||||||
Properties | and Fittings | Equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/10/2023 | 8,160 | 4,214 | 36,450 | 48,824 | ||||
Additions | - | - | 9,556 | 9,556 | ||||
Disposals | - | - | (18,284) | (18,284) | ||||
At 30/09/2024 | 8,160 | 4,214 | 27,722 | 40,096 | ||||
Depreciation | ||||||||
At 01/10/2023 | 6,140 | 3,799 | 27,260 | 37,199 | ||||
Disposals | - | - | (18,284) | (18,284) | ||||
For the year | 1,228 | 207 | 6,561 | 7,996 | ||||
At 30/09/2024 | 7,368 | 4,006 | 15,537 | 26,911 | ||||
Net Book Amounts | ||||||||
At 30/09/2024 | 792 | 13,185 | ||||||
At 30/09/2023 | 2,020 | 11,625 | ||||||
3. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
Our IT Services Limited | ||||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 216,284 | 393,745 | ||||||
Other debtors | - | 1,586 | ||||||
Prepayments | 69,915 | 54,383 | ||||||
286,199 | 449,714 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 25,405 | 23,990 | ||||||
VAT | 46,850 | 39,469 | ||||||
PAYE control | 14,369 | 7,002 | ||||||
Directors current account | 8,069 | 6,740 | ||||||
Credit card | 566 | 659 | ||||||
Trade creditors | 99,272 | 326,111 | ||||||
Other creditors | 28,802 | 34,247 | ||||||
Accruals | 3,600 | 38,447 | ||||||
226,933 | 476,665 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 17,497 | 28,391 | ||||||
17,497 | 28,391 | |||||||
7. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 12 | |||||
Our IT Services Limited | ||||||||
8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 3,098 | 3,058 | ||||||
3,098 | 3,058 | |||||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1 | 1 | |||||||
1 | 1 | |||||||
10. GENERAL INFORMATION | ||||||||
Our IT Services Limited is a private company limited by shares incorporated in England and Wales, company number 05210896. The registered office is Unit 7 College Farm Buildings, Tetbury Road, Cirencester, Gloucestershire GL7 6PY. | ||||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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