Company No:
Contents
DIRECTORS | David Peel Breare |
Roger McElroy |
SECRETARY | Roger McElroy |
REGISTERED OFFICE | 2762 Davenport House 207 Regent Street |
London | |
W1B 3HH | |
United Kingdom |
BUSINESS ADDRESS | Unit 2 |
Tanners Court | |
Tanners Lane | |
East Wellow | |
Romsey | |
Hampshire | |
SO51 6DP |
COMPANY NUMBER | 04885448 (England and Wales) |
CHARTERED ACCOUNTANTS | Gascoynes |
Gascoyne House | |
Moseleys Farm Business Centre | |
Fornham All Saints | |
Bury St Edmunds | |
Suffolk | |
IP28 6JY |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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26,616 | 34,969 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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590,940 | 688,718 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 429,156 | 498,315 | ||
Total assets less current liabilities | 455,772 | 533,284 | ||
Provision for liabilities | 6 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Investment Technology Ltd (registered number:
Roger McElroy
Director |
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.
Investment Technology 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 2762 Davenport House 207 Regent Street, London, W1B 3HH, United Kingdom. The principal place of business is Unit 2, Tanners Court, Tanners Lane, East Wellow, Romsey, Hampshire, SO51 6DP.
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 £.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings |
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Leasehold improvements |
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Vehicles |
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Fixtures and fittings |
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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.
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.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Leasehold improve- ments |
Vehicles | Fixtures and fittings | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 October 2023 |
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Additions |
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Disposals |
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At 30 September 2024 |
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Accumulated depreciation | |||||||||
At 01 October 2023 |
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Charge for the financial year |
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Disposals |
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At 30 September 2024 |
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Net book value | |||||||||
At 30 September 2024 |
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At 30 September 2023 |
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2024 | 2023 | ||
£ | £ | ||
Prepayments |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to directors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Deferred tax |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Administration services provided by family member of a director | 45,000 | 38,250 |