05210896falsesoftware developers2023-10-012024-09-30http://www.companieshouse.gov.uk/2023-09-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-09-30http://www.companieshouse.gov.uk/cd:Director12023-10-012024-09-30http://www.companieshouse.gov.uk/pt:ShareCapital2024-09-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-09-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-09-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-09-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-10-012024-09-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-09-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-10-012024-09-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-10-012024-09-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-09-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-09-30http://www.companieshouse.gov.uk/2023-10-012024-09-30http://www.companieshouse.gov.uk/2023-09-30http://www.companieshouse.gov.uk/cd:FRS1022023-10-012024-09-30http://www.companieshouse.gov.uk/2024-09-30http://www.companieshouse.gov.uk/cd:FullAccounts2023-10-012024-09-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-10-012024-09-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 05210896

Our IT Services Limited

ACCOUNTS
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
J Peploe
REGISTERED OFFICE
Unit 7 College Farm Buildings
Tetbury Road
Cirencester
Gloucestershire
GL7 6PY
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 Sheet3
Notes To The Accounts4
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 30/09/2024
20242023
Notes££
FIXED ASSETS
Tangible assets213,18511,625
CURRENT ASSETS
Stock4,1169,763
Debtors4286,199449,714
Cash at bank and in hand54,338118,061
344,653577,538
CREDITORS: Amounts falling due within one year5226,933476,665
NET CURRENT ASSETS117,720100,873
TOTAL ASSETS LESS CURRENT LIABILITIES130,905112,498
CREDITORS: Amounts falling due after more than one year617,49728,391
PROVISIONS FOR LIABILITIES AND CHARGES83,0983,058
NET ASSETS110,31081,049
CAPITAL AND RESERVES
Called up share capital911
Profit and loss account110,30981,048
SHAREHOLDERS' FUNDS110,31081,049
For the year ending 30/09/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27/03/2025 and signed on their behalf by
.............................
J Peploe
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
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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 Propertiesreducing balance15%
Fixtures And Fittingsreducing balance15%
Equipmentreducing 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 LeaseholdFixtures
Propertiesand FittingsEquipmentTotal
££££
Cost
At 01/10/20238,1604,21436,45048,824
Additions--9,5569,556
Disposals--(18,284)(18,284)
At 30/09/20248,1604,21427,72240,096
Depreciation
At 01/10/20236,1403,79927,26037,199
Disposals--(18,284)(18,284)
For the year1,2282076,5617,996
At 30/09/20247,3684,00615,53726,911
Net Book Amounts
At 30/09/202479220812,18513,185
At 30/09/20232,0204159,19011,625
3. STOCK 20242023
££
Stock comprises:
Stock4,1169,763
4,1169,763

Our IT Services Limited

4. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors216,284393,745
Other debtors-1,586
Prepayments69,91554,383
286,199449,714
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax25,40523,990
VAT46,85039,469
PAYE control14,3697,002
Directors current account8,0696,740
Credit card566659
Trade creditors99,272326,111
Other creditors28,80234,247
Accruals3,60038,447
226,933476,665
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans (unsecured) >1yr17,49728,391
17,49728,391
7. EMPLOYEES
20242023
No.No.
Average number of employees1412

Our IT Services Limited

8. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation3,0983,058
3,0983,058
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
11
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
As at the year end the company owed the director £8,069 (2023- £6,739). This balance is repayable on demand.