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REGISTERED NUMBER: 04142113 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 30 SEPTEMBER 2024

FOR

BATES I.T. LTD

BATES I.T. LTD (REGISTERED NUMBER: 04142113)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 January 2024 to 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


BATES I.T. LTD

COMPANY INFORMATION
for the period 1 January 2024 to 30 September 2024







DIRECTORS: Mr B R Fuller
Mr C Fuller
Mr P Wake
Mr J Butcher
Mr S M Fieldhouse





REGISTERED OFFICE: Walkers House
School Road
Rayne
Essex
CM77 6ST





REGISTERED NUMBER: 04142113 (England and Wales)





AUDITORS: Xeinadin Audit Limited
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

BATES I.T. LTD (REGISTERED NUMBER: 04142113)

ABRIDGED BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 248,195 319,008
248,195 319,008

CURRENT ASSETS
Debtors 3,228,135 3,378,046
Cash at bank 1,226,196 694,571
4,454,331 4,072,617
CREDITORS
Amounts falling due within one year 2,205,992 2,155,955
NET CURRENT ASSETS 2,248,339 1,916,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,496,534

2,235,670

CREDITORS
Amounts falling due after more than one
year

98,404

142,180
NET ASSETS 2,398,130 2,093,490

CAPITAL AND RESERVES
Called up share capital 20,300 20,300
Retained earnings 2,377,830 2,073,190
SHAREHOLDERS' FUNDS 2,398,130 2,093,490

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr B R Fuller - Director


BATES I.T. LTD (REGISTERED NUMBER: 04142113)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 January 2024 to 30 September 2024

1. STATUTORY INFORMATION

Bates I.T. Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 is recognised based upon an internal assessment of the value of work carried out. This assessment is arrived at after due consideration of the performance against the programme of works, measurement of the works, evaluation of the costs incurred and comparison to certification of the work performed.

Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated amortisation and impairment losses, if any. Amortisation is calculated on a straight-line basis over the useful economic life of 20 years.

For the purposes of impairment testing, goodwill is allocated to each of the company's cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BATES I.T. LTD (REGISTERED NUMBER: 04142113)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2024 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at cost less any provision for impairments.

Investments in subsidiary undertakings are recognised at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Related parties
For the purposes of these financial statements, a party is considered to be related to the company if:
- the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company; or
- the company and the party are subject to common control; or
- the party is an associate of the company or a joint venture in which the company is a venturer; or
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals; or
- the party is a close family member of a party referred to above or is an entity under the control, joint control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company; or
- the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

The obligations for contributions to defined contribution scheme are recognised as an expense in the period they are incurred. The assets of the scheme are held separately from those of the company in an independently administered fund.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 70 (2023 - 73 ) .

BATES I.T. LTD (REGISTERED NUMBER: 04142113)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2024 to 30 September 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 30 September 2024 50,000
AMORTISATION
At 1 January 2024
and 30 September 2024 50,000
NET BOOK VALUE

At 30 September 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 753,984
Additions 40,311
Disposals (90,380 )
At 30 September 2024 703,915
DEPRECIATION
At 1 January 2024 434,976
Charge for period 61,624
Eliminated on disposal (40,880 )
At 30 September 2024 455,720
NET BOOK VALUE
At 30 September 2024 248,195
At 31 December 2023 319,008

BATES I.T. LTD (REGISTERED NUMBER: 04142113)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2024 to 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2024 493,456
Additions 40,311
Disposals (72,730 )
At 30 September 2024 461,037
DEPRECIATION
At 1 January 2024 209,023
Charge for period 55,738
Eliminated on disposal (28,364 )
At 30 September 2024 236,397
NET BOOK VALUE
At 30 September 2024 224,640
At 31 December 2023 284,433

6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 140,625

The bank loan of £140,625 in the prior year was repaid in full on 9 May 2024 as part of the acquisition of Bates Consortium Limited, the 100% owner of Bates I.T. Limited.

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 140,625
Hire purchase contracts 153,594 225,672
Invoice financing - 402,707
153,594 769,004

Hire purchases are secured by the underlying assets.

BATES I.T. LTD (REGISTERED NUMBER: 04142113)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2024 to 30 September 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tania Cregg FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. CONTINGENT LIABILITIES

The company had no contingent liabilities at 30 September 2024 and 31 December 2023.

10. CAPITAL COMMITMENTS

The company had no capital commitment at 30 September 2024 and 31 December 2023.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in debtors falling due within one year in the prior year was a balance of £nil (2023: £1,237,415) owed by Bates Real Estates Limited, a company with common directors.

At the balance sheet date, the company owed Bates Property Services LLP £92,376 (2023: the company was owed £70,806). Mr B R Fuller and Mr C Fuller are members of Bates Property Services LLP.

12. ULTIMATE CONTROLLING PARTY

On 9 May 2024, Spectre Bidco Limited acquired 100% of the share capital of Bates Consortium Limited. The immediate parent company of Spectre Bidco Limited is Spectre Topco Limited, for which consolidated accounts are prepared. Spectre Topco Limited's registered office is 41 Alston Drive, Bradwell Abbey, Milton Keynes, Buckinghamshire, MK13 9HA.

The ultimate parent company of Spectre Topco Limited is Aliter Capital II LP. In the opinion of the directors there is no ultimate controlling party of Aliter Capital II LP.