Bristol IT Company Ltd

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—5

1. General Information

Bristol IT Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06981921 . The registered office is The Quorum, Bond Street South, Bristol, BS1 3AE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

The directors considered the Group's forecasts and projections, taking into account expected levels of trading performance, which shows that the Group is expected to operate within the level of its current financing arrangements for the foreseeable future, being no less than 12 months from the date of approval of these financial statements.

In making their going concern assessment the directors have taken into consideration; the relationships with key customers and key suppliers, the balance sheet position and the financial performance and position of the Group. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3. Significant judgements and estimations

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

The key judgement that has a significant impact on the financial statements is in respect of going concern, as described above.

In the opinion of the directors, there are no key sources of estimation uncertainty as at 31 March 2025

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, and represents amounts receivable for services provided and goods supplied, stated net of discounts, returns and value added taxes.

Revenue for the company is derived from the provision of IT solutions and service across five technology pillars:

Scalable Cloud
Enhanced Workforce
Cybersecurity and Assurance
Enterprise networking
Managed Services and Support

Revenue is recognised when services are provided. Any income billed in advance is deferred and recognised in deferred income until the service has been provided.

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the income statement over its estimated economic life of 10 years.

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Bristol IT Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Tangible Fixed Assets and Depreciation

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Leasehold Improvements	over the term of the lease
Office Equipment	14% - 33%
Computer Equipment	20% - 33%

2.7. Leasing and Hire Purchase Contracts

Leases in which substantially all of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the profit and loss account on a straight-line basis over the period of the lease.

The Group has no finance leases.

2.8. Financial Instruments

Classification

The company holds the following financial instruments:

Short term trade and other debtors and creditors;
Bank loans; and
Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Bristol IT Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.10. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Bristol IT Company Ltd has no direct staff. All staff are employed by the parent company Assured Digital Technologies Ltd and costs recharged to Bristol IT Company Ltd .31 March 2025

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	125,000
Disposals	(125,000 )

As at 31 March 2025	-

Amortisation
As at 1 April 2024	125,000
Disposals	(125,000 )

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Leasehold Improvements	Office Equipment	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	15,446	5,976	27,569	48,991
Disposals	(15,446 )	(4,363 )	(23,664 )	(43,473 )

As at 31 March 2025	-	1,613	3,905	5,518

Depreciation
As at 1 April 2024	15,446	5,946	27,569	48,961
Provided during the period	-	30	-	30
Disposals	(15,446 )	(4,363 )	(23,664 )	(43,473 )

As at 31 March 2025	-	1,613	3,905	5,518

Net Book Value
As at 31 March 2025	-	-	-	-

As at 1 April 2024	-	30	-	30

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Bristol IT Company Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	145,672	177,786
Prepayments and accrued income	19,397	85,170
Other debtors	7,288	7,603
Amounts owed by group undertakings	78,176	-

	250,533	270,559

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	49,833	141,886
Corporation tax	4,342	-
VAT	34,746	12,936
Accruals and deferred income	35,144	37,384

	124,065	192,206

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	5,000	5,000

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	1,534	4,603
Later than one year and not later than five years	-	1,534

	1,534	6,137

10. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Assured Digital Technologies Limited . Assured Digital Technologies Limited was incorporated in England and registered at The Quorum, Bond Street South, Bristol, BS1 3AE . Assured Digital Technologies Limited is also the ultimate controlling party who controls 100% of the shares of Bristol IT Company Ltd .

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		-		30

			-		30
CURRENT ASSETS
Debtors	6	250,533		270,559
Cash at bank and in hand		50,231		77,406

		300,764		347,965
Creditors: Amounts Falling Due Within One Year	7	(124,065 )		(192,206 )

NET CURRENT ASSETS (LIABILITIES)			176,699		155,759

TOTAL ASSETS LESS CURRENT LIABILITIES			176,699		155,789

NET ASSETS			176,699		155,789

CAPITAL AND RESERVES
Called up share capital	8		5,000		5,000
Income Statement			171,699		150,789

SHAREHOLDERS' FUNDS			176,699		155,789