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REGISTERED NUMBER: 09983126 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ITSOL MANAGED SERVICES LIMITED

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITSOL MANAGED SERVICES LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2025







DIRECTORS: Mr R A Hedley
Mr D M Littleboy





REGISTERED OFFICE: 5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 09983126 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5 & 6 Manor Garth
Manor Court
Scarborough
North Yorkshire
YO11 3TU

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,500 3,000
Tangible assets 5 13,763 8,523
15,263 11,523

CURRENT ASSETS
Stocks 1,738 1,774
Debtors 6 154,843 200,355
Cash at bank 72,704 63,185
229,285 265,314
CREDITORS
Amounts falling due within one year 7 207,788 206,238
NET CURRENT ASSETS 21,497 59,076
TOTAL ASSETS LESS CURRENT LIABILITIES 36,760 70,599

CREDITORS
Amounts falling due after more than
one year

8

(3,497

)

(14,115

)

PROVISIONS FOR LIABILITIES (3,441 ) (2,131 )
NET ASSETS 29,822 54,353

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 29,722 54,253
SHAREHOLDERS' FUNDS 29,822 54,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

BALANCE SHEET - continued
31 March 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





Mr D M Littleboy - Director


ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025


1. STATUTORY INFORMATION

Itsol Managed Services Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 15,000
AMORTISATION
At 1 April 2024 12,000
Charge for year 1,500
At 31 March 2025 13,500
NET BOOK VALUE
At 31 March 2025 1,500
At 31 March 2024 3,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 148,931
Additions 14,049
At 31 March 2025 162,980
DEPRECIATION
At 1 April 2024 140,408
Charge for year 8,809
At 31 March 2025 149,217
NET BOOK VALUE
At 31 March 2025 13,763
At 31 March 2024 8,523

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


6. DEBTORS
2025 2024
£    £   
Amounts falling due within one year:
Trade debtors 16,094 53,768
Other debtors 106,119 113,957
122,213 167,725

Amounts falling due after more than one year:
Other debtors 32,630 32,630

Aggregate amounts 154,843 200,355

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loan 10,441 10,000
Payments on account 47,568 50,912
Trade creditors 11,144 24,290
Taxation and social security 106,054 93,462
Other creditors 32,581 27,574
207,788 206,238

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 3,497 14,115

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

ITSOL MANAGED SERVICES LIMITED (REGISTERED NUMBER: 09983126)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
Mr R A Hedley
Balance outstanding at start of year 48,449 48,837
Amounts advanced 110,075 112,877
Amounts repaid (110,000 ) (113,265 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,524 48,449

Mr D M Littleboy
Balance outstanding at start of year 48,855 49,007
Amounts advanced 80,077 142,102
Amounts repaid (85,000 ) (142,254 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,932 48,855