REGISTERED NUMBER: 11047155 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Buras IT Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F A Buras

Ms M M Buras-stubbs

SECRETARY:

REGISTERED OFFICE:

71-75 Shelton Street

London

Greater London

United Kingdom

WC2H 9JQ

REGISTERED NUMBER:

11047155 (England and Wales)

ACCOUNTANTS:

John Greenall & Co Limited

20 Crewe Road

Sandbach

Cheshire

CW11 4NE

FIXED ASSETS

Tangible assets

4

5,007

4,928

CURRENT ASSETS

Debtors

5

4,161

16,910

Cash at bank

34,592

49,564

38,753

66,474

CREDITORS

Amounts falling due within one year

6

13,959

38,834

NET CURRENT ASSETS

24,794

27,640

TOTAL ASSETS LESS CURRENT LIABILITIES

29,801

32,568

PROVISIONS FOR LIABILITIES

951

1,060

NET ASSETS

28,850

31,508

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

28,849

31,507

28,850

31,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 29 September 2025 and were signed on its behalf by:

F A Buras - Director

1.	STATUTORY INFORMATION

Buras IT 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

2,800

11,118

13,918

Additions

333

1,415

1,748

At 31 December 2024

3,133

12,533

15,666

DEPRECIATION

At 1 January 2024

1,821

7,169

8,990

Charge for year

328

1,341

1,669

At 31 December 2024

2,149

8,510

10,659

NET BOOK VALUE

At 31 December 2024

984

4,023

5,007

At 31 December 2023

979

3,949

4,928

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

12,910

Amounts owed by associates

4,000

4,000

Other debtors

161

-

4,161

16,910

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

1,917

2,072

Taxation and social security

6,370

14,300

Other creditors

5,672

22,462

13,959

38,834