REGISTERED NUMBER: 07104776 (England and Wales)

Directors' Report and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

IT Champion Limited

Page

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M Phillips

A Challice

G Gould

T Jacobs

REGISTERED OFFICE:

First Floor

228 High Street

Exeter

Devon

EX4 3LR

REGISTERED NUMBER:

07104776 (England and Wales)

ACCOUNTANTS:

RT Marke & Co Limited

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

M Phillips

A Challice

G Gould

T Jacobs

FINANCIAL REVIEW

The Directors are pleased to report a further year of growth despite the previous years record growth of 22%.

Recuring revenue continues to increase as we work to align our pricing with other top tier providers in the MSP space along with significant new business wins and the launch of new revenue streams.

During the year, the company was in the final stages of moving into a new, fully renovated HQ. These premises will deliver our people with an environment to work efficiently, create a unique working environment and provide us the ability to deliver large scale events inhouse.

As we see the regional and national trend of MSP consolidation continue into this financial year and forward, the business recognises the significant opportunity this represents for organisations seeking a nimble, capable and focused IT partner whilst recognising that these larger organisations do deliver at scale and to segments not currently targeted.

The Directors have confidence in the company's ability to quickly and effectively adapt to a change in trading conditions and liquidity.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Phillips - Director

23 December 2025

FIXED ASSETS

Tangible assets

4

64,758

85,019

CURRENT ASSETS

Stocks

4,215

8,350

Debtors

5

1,386,784

471,625

Cash at bank and in hand

187,379

824,501

1,578,378

1,304,476

CREDITORS

Amounts falling due within one year

6

646,638

602,136

NET CURRENT ASSETS

931,740

702,340

TOTAL ASSETS LESS CURRENT LIABILITIES

996,498

787,359

CREDITORS

Amounts falling due after more than one year

7

(48,576

)

(11,007

)

PROVISIONS FOR LIABILITIES

(23,017

)

(17,351

)

NET ASSETS

924,905

759,001

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

923,905

758,001

SHAREHOLDERS' FUNDS

924,905

759,001

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

M Phillips - Director

1.	STATUTORY INFORMATION

IT Champion 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

Financial instruments

i) Financial assets

Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

4,669

27,680

92,068

60,091

184,508

Additions

-

3,546

-

4,602

8,148

At 31 March 2025

4,669

31,226

92,068

64,693

192,656

DEPRECIATION

At 1 April 2024

3,074

23,891

28,531

43,993

99,489

Charge for year

397

3,152

15,970

8,890

28,409

At 31 March 2025

3,471

27,043

44,501

52,883

127,898

NET BOOK VALUE

At 31 March 2025

1,198

4,183

47,567

11,810

64,758

At 31 March 2024

1,595

3,789

63,537

16,098

85,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

205,983

254,820

Other debtors

1,180,801

216,805

1,386,784

471,625

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

143,211

11,697

Income in advance

78,485

86,284

Trade creditors

169,325

230,202

Taxation and social security

203,640

185,269

Other creditors

51,977

88,684

646,638

602,136

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

48,576

11,007

8.	RELATED PARTY DISCLOSURES

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 Directors' Report 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 IT Champion 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 IT Champion 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 IT Champion Limited and state those matters that we have agreed to state to the Board of Directors of IT Champion 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 IT Champion Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IT Champion 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 IT Champion Limited. You consider that IT Champion 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 IT Champion 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.

RT Marke & Co Limited

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

Date: .............................................