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Unaudited Financial Statements for the Year Ended 30 November 2024

for

Expert IT Solutions Ltd

Expert IT Solutions Ltd (Registered number: SC239210)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Expert IT Solutions Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTORS: M Lonnen
G Emms





SECRETARY: Mrs J Lonnen





REGISTERED OFFICE: Unit 21
15 Borrowmeadow Road
Stirling
FK7 7FB





REGISTERED NUMBER: SC239210 (Scotland)





ACCOUNTANTS: LMC Accountants Ltd
Chartered Accountants
73 Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ

Expert IT Solutions Ltd (Registered number: SC239210)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 82,423 53,131

CURRENT ASSETS
Stocks 11,317 14,504
Debtors 5 46,478 75,632
Cash at bank 59,574 85,845
117,369 175,981
CREDITORS
Amounts falling due within one year 6 73,519 134,276
NET CURRENT ASSETS 43,850 41,705
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,273

94,836

PROVISIONS FOR LIABILITIES 15,660 10,095
NET ASSETS 110,613 84,741

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 8 110,603 84,731
SHAREHOLDERS' FUNDS 110,613 84,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Expert IT Solutions Ltd (Registered number: SC239210)

Balance Sheet - continued
30 November 2024


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

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 5 May 2025 and were signed on its behalf by:





M Lonnen - Director


Expert IT Solutions Ltd (Registered number: SC239210)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Expert IT Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Expert IT Solutions Ltd (Registered number: SC239210)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 130,379
Additions 84,230
Disposals (65,057 )
At 30 November 2024 149,552
DEPRECIATION
At 1 December 2023 77,248
Charge for year 27,492
Eliminated on disposal (37,611 )
At 30 November 2024 67,129
NET BOOK VALUE
At 30 November 2024 82,423
At 30 November 2023 53,131

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 46,478 75,632

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 18,267 13,983
Taxation and social security 36,177 35,715
Other creditors 19,075 84,578
73,519 134,276

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
10 Ordinary £1 10 10

Expert IT Solutions Ltd (Registered number: SC239210)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. RESERVES
Retained
earnings
£   

At 1 December 2023 24,731
Profit for the year 85,872
At 30 November 2024 110,603

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
G Emms
Balance outstanding at start of year (25,419 ) (25,607 )
Amounts advanced 23,721 188
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,698 ) (25,419 )

M Lonnen
Balance outstanding at start of year (37,588 ) (28,257 )
Amounts advanced 31,074 (9,331 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,514 ) (37,588 )

10. RELATED PARTY DISCLOSURES

The company is controlled by The Expert IT Employee Ownership Trust