2023-08-012024-07-312024-07-31false05344413IT AMBULANCE 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IT AMBULANCE LIMITED

Registered Number
05344413
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

IT AMBULANCE LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

Frank Connelly

Registered Address

Unit3a/3b St Martin’S Courtyard
Chapel Lane Zeals
Warminster
BA12 6NZ

Registered Number

05344413 (England and Wales)
IT AMBULANCE LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,5055,482
2,5055,482
Current assets
Stocks44,7216,282
Debtors5,6152,785175,015
Cash at bank and on hand158,754110,814
316,260292,111
Creditors amounts falling due within one year7(155,301)(137,927)
Net current assets (liabilities)160,959154,184
Total assets less current liabilities163,464159,666
Creditors amounts falling due after one year8(17,240)(27,131)
Provisions for liabilities9(476)(1,041)
Net assets145,748131,494
Capital and reserves
Called up share capital11
Profit and loss account145,747131,493
Shareholders' funds145,748131,494
The financial statements were approved and authorised for issue by the Director on 25 April 2025, and are signed on its behalf by:
Frank Connelly
Director
Registered Company No. 05344413
IT AMBULANCE LIMITED
Notes to the Financial Statements
for the year ended 31 July 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Plant and machinery and office equipment is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year1111
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 August 236,8816,08912,970
Additions-760760
At 31 July 246,8816,84913,730
Depreciation and impairment
At 01 August 234,2833,2057,488
Charge for year1,5592,1783,737
At 31 July 245,8425,38311,225
Net book value
At 31 July 241,0391,4662,505
At 31 July 232,5982,8845,482
4.Stocks

2024

2023

££
Other stocks4,7216,282
Total4,7216,282
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables64,42684,383
Other debtors1,0381,038
Prepayments and accrued income6,9219,194
Total72,38594,615
6.Debtors: amounts due after one year

2024

2023

££
Other debtors80,40080,400
Total80,40080,400
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,90138,416
Bank borrowings and overdrafts10,17410,174
Taxation and social security59,97550,875
Other creditors3,2415,638
Accrued liabilities and deferred income69,01032,824
Total155,301137,927
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,24027,131
Total17,24027,131
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4761,041
Total4761,041
10.Directors advances, credits and guarantees
At the end of the year, the company owed Mr FJ Connelly £NIL (2023: £3,608. This amount is included under creditors less than 1 year in the balance sheet).
11.Related party transactions
Connelly IT Limited A company in which Mr Connelly is a Director and Shareholder No further loans were made from IT Ambulance Limited to Connelly IT Limited during the year. (2023: nil). Amount due from related party at the balance sheet date: £80,400 (2023: £80,400). Mr FJ Connelly During the year the company purchased second hand white goods from the Director, valued at market rate, for the sum of £445.