ITSYSTEMSOLUTIONS LIMITED

Company Registration Number:
10382509 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

ITSYSTEMSOLUTIONS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ITSYSTEMSOLUTIONS LIMITED

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

IT Consultancy



Directors

The director shown below has held office during the whole of the period from
1 October 2023 to 30 September 2024

Brent Pearson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 July 2025

And signed on behalf of the board by:
Name: Brent Pearson
Status: Director

ITSYSTEMSOLUTIONS LIMITED

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 1,260 4,553
Cost of sales: 0 0
Gross profit(or loss): 1,260 4,553
Administrative expenses: ( 5,231 ) ( 15,620 )
Other operating income: 0 100
Operating profit(or loss): (3,971) (10,967)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 ( 1,359 )
Profit(or loss) before tax: (3,971) (12,326)
Profit(or loss) for the financial year: (3,971) (12,326)

ITSYSTEMSOLUTIONS LIMITED

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,615 114
Total fixed assets: 1,615 114
Current assets
Cash at bank and in hand: 1,234 2,785
Total current assets: 1,234 2,785
Creditors: amounts falling due within one year: 4 ( 8,869 ) ( 12,957 )
Net current assets (liabilities): (7,635) (10,172)
Total assets less current liabilities: (6,020) ( 10,058)
Creditors: amounts falling due after more than one year: 5 ( 11,165 ) ( 10,000 )
Total net assets (liabilities): (17,185) (20,058)
Capital and reserves
Called up share capital: 2 2
Other reserves: (13,216)
Profit and loss account: (3,971 ) (20,060 )
Total Shareholders' funds: ( 17,185 ) (20,058)

The notes form part of these financial statements

ITSYSTEMSOLUTIONS LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 July 2025
and signed on behalf of the board by:

Name: Brent Pearson
Status: Director

The notes form part of these financial statements

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers (50% Reducing balance)

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 114 114
Additions 2,307 2,307
Disposals
Revaluations
Transfers
At 30 September 2024 2,421 2,421
Depreciation
At 1 October 2023 0 0
Charge for year 692 692
On disposals
Other adjustments 114 114
At 30 September 2024 806 806
Net book value
At 30 September 2024 1,615 1,615
At 30 September 2023 114 114

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 1,410 6,000
Taxation and social security 618
Accruals and deferred income 657
Other creditors 7,459 5,682
Total 8,869 12,957

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 11,165 10,000
Total 11,165 10,000

ITSYSTEMSOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Financial Commitments

Hire Purchase Commitment: Laptop hire purchase agreement Future monthly payments of £128.19 Bounce Back Loan Commitment: Future repayments on the BBL of £500+- Remaining balance of £11,165.46