Registered number
08225005
IT Transformation Solutions Limited
Unaudited Filleted Accounts
30 September 2024
IT Transformation Solutions Limited
Registered number: 08225005
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,526 10,295
Current assets
Debtors 4 20,667 9,360
Cash at bank and in hand 60,305 102,919
80,972 112,279
Creditors: amounts falling due within one year 5 (5,144) (57,045)
Net current assets 75,828 55,234
Total assets less current liabilities 85,354 65,529
Provisions for liabilities (178) (52)
Net assets 85,176 65,477
Capital and reserves
Called up share capital 1 1
Profit and loss account 85,175 65,476
Shareholder's funds 85,176 65,477
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
S. Harries
Director
Approved by the board on 19 June 2025
IT Transformation Solutions Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
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 8 years
Fixtures, fittings, tools and equipment over 3-5 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, other than overdrawn director's loan accounts, 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).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 11,455 2,745 14,200
Additions - 1,259 1,259
Disposals - (1,517) (1,517)
At 30 September 2024 11,455 2,487 13,942
Depreciation
At 1 October 2023 1,432 2,473 3,905
Charge for the year 1,432 595 2,027
On disposals - (1,516) (1,516)
At 30 September 2024 2,864 1,552 4,416
Net book value
At 30 September 2024 8,591 935 9,526
At 30 September 2023 10,023 272 10,295
4 Debtors 2024 2023
£ £
Trade debtors - 9,360
Other debtors 20,667 -
20,667 9,360
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,144 21,023
Other creditors - 36,022
5,144 57,045
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S. Harries
Overdrawn director's loan account, interest-free and repayable on demand - 20,667 - 20,667
- 20,667 - 20,667
7 Other information
IT Transformation Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
41 Fairdene Road
Coulsdon
Surrey
CR5 1RD
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