REGISTERED NUMBER: 08809433 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ONE IT SERVICES AND SOLUTIONS LIMITED

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

2,691

4,036

Tangible assets

5

303,443

310,514

306,134

314,550

CURRENT ASSETS

Stocks

22,703

40,264

Debtors

345,557

415,297

Cash at bank

539,987

782,660

908,247

1,238,221

CREDITORS

Amounts falling due within one year

556,824

939,745

NET CURRENT ASSETS

351,423

298,476

TOTAL ASSETS LESS CURRENT LIABILITIES

657,557

613,026

CREDITORS

Amounts falling due after more than one year

6

(74,717

)

(93,213

)

PROVISIONS FOR LIABILITIES

(11,272

)

(12,787

)

NET ASSETS

571,568

507,026

RESERVES

Retained earnings

571,568

507,026

571,568

507,026

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:

Mr E Jewitt - Director

1.	STATUTORY INFORMATION

ONE IT Services and Solutions Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08809433

Registered office:

Blackburn House, Falcon Court

Preston Farm Industrial Estate

Stockton-on-Tees

TS18 3TX

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.

Revenue recognition

Turnover represents net invoiced sales of goods and services, excluding value added tax and as adjusted for accrued and deferred income.

Work done but not invoiced at the financial year end is provided at estimated selling price based on the proportion of work carried out and is included within debtors.

Where contracts have been invoiced for a period, all or part of which relates to a period after the financial year end, or work has been invoiced in advance of goods or services being provided, income is deferred. In the case of contracts, the amount of income deferred is based on the proportion of the total contract which relates to the period after the financial year end. Income deferred is included within creditors.

Goodwill

Goodwill had not been amortised until its full value was determined after the first three years of trading. It is now 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.

IT equipment

- straight line over 3 years

Improvements to leasehold property

- straight line over 5 years

Long leasehold property

- straight line over 50 years

Office equipment

- straight line over 5 years

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 Income Statement, 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.

Pension costs and other post-retirement benefits

The company is part of multi-employer defined benefit pension scheme, the Teesside Pension Fund, which is administered by Middlesbrough Council. As the company's contributions are set in relation to the current service period only, and are not affected by any surplus or deficit in the scheme relating to past service of its own employees, the actual contributions paid are treated as the cost to the company in the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 37 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

13,453

AMORTISATION

At 1 April 2024

9,417

Amortisation for year

1,345

At 31 March 2025

10,762

NET BOOK VALUE

At 31 March 2025

2,691

At 31 March 2024

4,036

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

480,400

Additions

32,639

At 31 March 2025

513,039

DEPRECIATION

At 1 April 2024

169,886

Charge for year

39,710

At 31 March 2025

209,596

NET BOOK VALUE

At 31 March 2025

303,443

At 31 March 2024

310,514

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans

-

6,213

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

92,717

110,213