Registered number
07808188
Chelmer IT Support Ltd
Filleted Accounts
31 March 2025
Chelmer IT Support Ltd
Registered number: 07808188
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,665 2,687
Current assets
Debtors 4 49,227 34,603
Cash at bank and in hand 28,124 92,404
77,351 127,007
Creditors: amounts falling due within one year 5 (45,039) (44,622)
Net current assets 32,312 82,385
Total assets less current liabilities 33,977 85,072
Provisions for liabilities (317) (510)
Net assets 33,660 84,562
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,560 84,462
Shareholder's funds 33,660 84,562
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 his 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.
Richard Jackson
Director
Approved by the board on 14 July 2025
Chelmer IT Support Ltd
Notes to the Accounts
for the year ended 31 March 2025
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. 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:
Computer Equipment 50% Reducing Balance
Office Furniture 50% Reducing Balance
Vehicals 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 3 3
3 Tangible fixed assets
Office Equipment Computer Equipment Motor vehicles/Cycles Total
£ £ £ £
Cost
At 1 April 2024 2,527 37,842 5,156 45,525
At 31 March 2025 2,527 37,842 5,156 45,525
Depreciation
At 1 April 2024 2,521 36,447 3,870 42,838
Charge for the year 3 697 322 1,022
At 31 March 2025 2,524 37,144 4,192 43,860
Net book value
At 31 March 2025 3 698 964 1,665
At 31 March 2024 6 1,395 1,286 2,687
4 Debtors 2025 2024
£ £
Trade debtors 57,110 43,869
Prepayments (7,883) (9,266)
49,227 34,603
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts - 3,424
Trade creditors 22,372 14,481
Corporation tax (3,935) 13,728
Other taxes and social security costs 10,797 12,134
Accruals 15,805 855
45,039 44,622
6 Other information
Chelmer IT Support Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Kingfisher Close
Seaton
Devon
EX12 2FN
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