Registered number
07217872
IT Bromley & Croydon Ltd.
Filleted Accounts
31 March 2025
IT Bromley & Croydon Ltd.
Registered number: 07217872
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,259 587
Current assets
Debtors 4 38,533 32,391
Cash at bank and in hand 98,127 105,706
136,660 138,097
Creditors: amounts falling due within one year 5 (131,779) (129,842)
Net current assets 4,881 8,255
Net assets 6,140 8,842
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,040 8,742
Shareholders' funds 6,140 8,842
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Lees
Director
Approved by the board on 19 June 2025
IT Bromley & Croydon Ltd.
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Office & computer equipment 25% Straight Line
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office & computer equipment
£
Cost
At 1 April 2024 6,739
Additions 1,234
At 31 March 2025 7,973
Depreciation
At 1 April 2024 6,152
Charge for the year 562
At 31 March 2025 6,714
Net book value
At 31 March 2025 1,259
At 31 March 2024 587
4 Debtors 2025 2024
£ £
Trade debtors 36,922 30,780
Other debtors 1,611 1,611
38,533 32,391
5 Creditors: amounts falling due within one year 2025 2024
£ £
Contract payments in advance 15,767 27,140
Trade creditors 8,289 7,003
Amounts owed to shareholders 66,623 57,623
Taxation and social security costs 40,100 37,101
Other creditors 1,000 975
131,779 129,842
6 Other information
IT Bromley & Croydon Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Capital Business Centre
22 Carlton Road
South Croydon
Surrey
CR2 0BS
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