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Company Registration No. 07614626 (England and Wales)
ITS A LOT LIMITED Unaudited accounts for the year ended 30 April 2025
ITS A LOT LIMITED Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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ITS A LOT LIMITED Company Information for the year ended 30 April 2025
Directors
Mr Olufemi Oyeniran Mr Nicholas Walker
Company Number
07614626 (England and Wales)
Registered Office
42 MARY GREEN ABBEY ROAD LONDON NW8 0BP ENGLAND
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ITS A LOT LIMITED Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
60,501
80,668
Current assets
Cash at bank and in hand
70,854
33
Creditors: amounts falling due within one year
5
(175,414)
(41,255)
Net current liabilities
(104,560)
(41,222)
Total assets less current liabilities
(44,059)
39,446
Creditors: amounts falling due after more than one year
6
(88,535)
(103,691)
Net liabilities
(132,594)
(64,245)
Capital and reserves
Called up share capital
7
200
200
Profit and loss account
(132,794)
(64,445)
Shareholders' funds
(132,594)
(64,245)
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by
Mr Nicholas Walker Director Company Registration No. 07614626
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ITS A LOT LIMITED Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
ITS A LOT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07614626. The registered office is 42 MARY GREEN, ABBEY ROAD, LONDON, NW8 0BP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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ITS A LOT LIMITED Notes to the Accounts for the year ended 30 April 2025
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 May 2024
6,050
80,667
86,717
At 30 April 2025
6,050
80,667
86,717
Depreciation
At 1 May 2024
6,049
-
6,049
Charge for the year
-
20,167
20,167
At 30 April 2025
6,049
20,167
26,216
Net book value
At 30 April 2025
1
60,500
60,501
At 30 April 2024
1
80,667
80,668
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
30,298
2,295
Other creditors
37,400
37,400
Accruals
1,716
1,560
Deferred income
106,000
-
175,414
41,255
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
7,868
23,024
Other creditors
80,667
80,667
88,535
103,691
7
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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