Southwest IT Services Ltd 14325045 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is IT consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 14325045 2023-09-01 2024-08-31 14325045 2024-08-31 14325045 core:CurrentFinancialInstruments 2024-08-31 14325045 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 14325045 core:FurnitureFittingsToolsEquipment 2024-08-31 14325045 1 2024-08-31 14325045 bus:SmallEntities 2023-09-01 2024-08-31 14325045 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14325045 bus:FilletedAccounts 2023-09-01 2024-08-31 14325045 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14325045 bus:RegisteredOffice 2023-09-01 2024-08-31 14325045 bus:Director1 2023-09-01 2024-08-31 14325045 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14325045 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 14325045 core:OfficeEquipment 2023-09-01 2024-08-31 14325045 countries:EnglandWales 2023-09-01 2024-08-31 14325045 1 2023-09-01 2024-08-31 14325045 2023-08-31 14325045 core:FurnitureFittingsToolsEquipment 2023-08-31 14325045 1 2023-08-31 14325045 2022-08-30 2023-08-31 14325045 2023-08-31 14325045 core:CurrentFinancialInstruments 2023-08-31 14325045 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14325045 core:FurnitureFittingsToolsEquipment 2023-08-31 14325045 1 2023-08-31 14325045 1 2022-08-30 2023-08-31 14325045 1 2022-08-29 iso4217:GBP xbrli:pure

Registration number: 14325045

Southwest IT Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Southwest IT Services Ltd

Contents
for the Year Ended 31 August 2024

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Southwest IT Services Ltd

Company Information
for the Year Ended 31 August 2024

Director

H Ulmanis

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

14325045 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified Accountants
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Southwest IT Services Ltd

(Registration number: 14325045)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

694

1,056

Current assets

 

Debtors

5

174,450

96,708

Cash at bank and in hand

 

4,769

8,444

 

179,219

105,152

Creditors: Amounts falling due within one year

6

(76,607)

(44,868)

Net current assets

 

102,612

60,284

Net assets

 

103,306

61,340

Capital and reserves

 

Called up share capital

1

1

Retained earnings

103,305

61,339

Shareholders' funds

 

103,306

61,340

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 February 2025
 

.........................................
H Ulmanis
Director

   
     
 

Southwest IT Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 13 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Southwest IT Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Staight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

 

Southwest IT Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,086

1,086

At 31 August 2024

1,086

1,086

Depreciation

At 1 September 2023

30

30

Charge for the year

362

362

At 31 August 2024

392

392

Carrying amount

At 31 August 2024

694

694

At 31 August 2023

1,056

1,056

5

Debtors

Current

2024
£

2023
£

Prepayments

987

-

Other debtors

173,463

96,708

 

174,450

96,708

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

74,223

44,743

Accruals and deferred income

2,384

125

76,607

44,868

 

Southwest IT Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Advances and credits

72,305

61,487

(4,100)

129,693

 

2023

At 30 August 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Advances and credits

-

72,605

(300)

72,305

 

Other transactions with the director

The balance due from the director at the year end date was deemed repayable on demand. Interest was charged at 2.25% on the outstanding balance.