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Company No: 09634356 (England and Wales)

BLUESYS IT SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

BLUESYS IT SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

BLUESYS IT SERVICES LTD

COMPANY INFORMATION

For the financial year ended 31 March 2025
BLUESYS IT SERVICES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
DIRECTORS Simon John Gay
Iain Mark Withers
Joanne Olivia Withers (Appointed 21 October 2024)
REGISTERED OFFICE Unit H1
Risby Business Park Newmarket Road
Risby
Bury St Edmunds
IP28 6RD
United Kingdom
COMPANY NUMBER 09634356 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
BLUESYS IT SERVICES LTD

BALANCE SHEET

As at 31 March 2025
BLUESYS IT SERVICES LTD

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 251,219 251,694
251,219 251,694
Current assets
Stocks 500 500
Debtors 4 168,135 206,352
Cash at bank and in hand 79,883 64,235
248,518 271,087
Creditors: amounts falling due within one year 5 ( 285,245) ( 296,619)
Net current liabilities (36,727) (25,532)
Total assets less current liabilities 214,492 226,162
Creditors: amounts falling due after more than one year 6 0 ( 24,769)
Net assets 214,492 201,393
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 214,392 201,293
Total shareholder's funds 214,492 201,393

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bluesys It Services Ltd (registered number: 09634356) were approved and authorised for issue by the Board of Directors on 09 May 2025. They were signed on its behalf by:

Iain Mark Withers
Director
BLUESYS IT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
BLUESYS IT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bluesys It Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit H1, Risby Business Park Newmarket Road, Risby, Bury St Edmunds, IP28 6RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 6

3. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost
At 01 April 2024 249,318 5,492 254,810
At 31 March 2025 249,318 5,492 254,810
Accumulated depreciation
At 01 April 2024 0 3,116 3,116
Charge for the financial year 0 475 475
At 31 March 2025 0 3,591 3,591
Net book value
At 31 March 2025 249,318 1,901 251,219
At 31 March 2024 249,318 2,376 251,694

4. Debtors

2025 2024
£ £
Trade debtors 158,096 206,352
Other debtors 10,039 0
168,135 206,352

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 64,648 110,547
Taxation and social security 90,530 90,094
Other creditors 130,067 95,978
285,245 296,619

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Other creditors 0 24,769

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary share capital shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2025 2024
£ £
Bluesys Ltd (102,278) (62,059)