SOLUTIONS IN I.T. LIMITED

Company Registration Number:
04555311 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

SOLUTIONS IN I.T. LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

SOLUTIONS IN I.T. LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 550,000 550,000
Tangible assets: 4 5,776 6,219
Total fixed assets: 555,776 556,219
Current assets
Stocks: 20,826 20,826
Debtors: 5 177,029 159,956
Cash at bank and in hand: 123,160 155,409
Total current assets: 321,015 336,191
Creditors: amounts falling due within one year:   (125,855) (152,430)
Net current assets (liabilities): 195,160 183,761
Total assets less current liabilities: 750,936 739,980
Creditors: amounts falling due after more than one year:   (10,363) (87,472)
Total net assets (liabilities): 740,573 652,508
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:6550,000550,000
Profit and loss account: 190,473 102,408
Shareholders funds: 740,573 652,508

The notes form part of these financial statements

SOLUTIONS IN I.T. LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 January 2025
and signed on behalf of the board by:

Name: Geoffrey Perkins
Status: Director

The notes form part of these financial statements

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other accounting policies

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.

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 10 9

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Intangible Assets

Total
Cost £
At 01 October 2023 550,000
At 30 September 2024 550,000
Amortisation
At 01 October 2023 0
Charge for year 0
On disposals 0
Other adjustments 0
At 30 September 2024 0
Net book value
At 30 September 2024 550,000
At 30 September 2023 550,000

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Tangible Assets

Total
Cost £
At 01 October 2023 40,740
Additions 1,001
At 30 September 2024 41,741
Depreciation
At 01 October 2023 34,521
Charge for year 1,444
At 30 September 2024 35,965
Net book value
At 30 September 2024 5,776
At 30 September 2023 6,219

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

SOLUTIONS IN I.T. LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Revaluation reserve

2024
£
Balance at 01 October 2023 550,000
Surplus or deficit after revaluation 0
Balance at 30 September 2024 550,000