| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| I.T. DEV LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| I.T. DEV LIMITED |
| I.T. DEV LIMITED (REGISTERED NUMBER: 04693711) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| I.T. DEV LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| Hampshire |
| SO16 7JQ |
| I.T. DEV LIMITED (REGISTERED NUMBER: 04693711) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| I.T. DEV LIMITED (REGISTERED NUMBER: 04693711) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| I.T. Dev Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| REVENUE RECOGNITION |
| Turnover is the amount derived from the services invoiced for software engineering, electronics design consultancy and IP licenses, stated net of VAT. |
| Revenue is recognised when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity. |
| Tax credits arising from the company's research and development activities are recognised as income on an accrual basis. |
| INTANGIBLE ASSETS |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| TANGIBLE FIXED ASSETS |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. The calculation is performed on a monthly basis resulting in a compounding effect over time. |
| Plant and machinery - | 33% on reducing balance |
| Fixtures and fittings - | 33% on reducing balance |
| Motor vehicles - | 21% on reducing balance |
| Computer equipment - | 33% on reducing balance |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date. |
| TAXATION |
| Taxation for the year is comprised of current 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 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. |
| RESEARCH AND DEVELOPMENT |
| Expenditure on research and development is written off in the year in which it is incurred. Income from research and development relief is recognised when there is reasonable assurance that the company will comply with conditions to receive the relief. |
| OPERATING LEASE COMMITMENTS |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| I.T. DEV LIMITED (REGISTERED NUMBER: 04693711) |
| 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. |
| SHORT-TERM DEBTORS AND CREDITORS |
| Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| licences |
| £ |
| COST |
| Additions |
| At 31 March 2025 |
| AMORTISATION |
| Amortisation for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| I.T. DEV LIMITED (REGISTERED NUMBER: 04693711) |
| 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 |
| Accrued income |
| Prepayments |
| Amounts falling due after more than one year: |
| Rental debtor |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT |
| Other creditors |
| Credit card balances |
| Dividends to be paid |
| Directors' current accounts | 142,235 | 172,781 |
| Accrued expenses |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| 9. | PROVISIONS FOR LIABILITIES |
| The provision shown in the statement of financial position relates to the estimated dilapidation on the property currently leased by the company. This is reviewed by the directors annually and any movements are recognised in the statement of income and retained earnings. |
| 10. | CAPITAL COMMITMENTS |
| There were no capital commitments at the year end (2024: £nil). |
| 11. | RELATED PARTY DISCLOSURES |
| During the year professional fees of £20,000 (2024: £20,000) were paid to a company under common control. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| I.T. DEV LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I.T. Dev Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of I.T. Dev Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I.T. Dev Limited and state those matters that we have agreed to state to the Board of Directors of I.T. Dev Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I.T. Dev Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that I.T. Dev Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I.T. Dev Limited. You consider that I.T. Dev Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of I.T. Dev Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| Hampshire |
| SO16 7JQ |
| Date: ............................................. |