IT Managed Services Limited

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of IT Managed Services Limited for the year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of IT Managed Services Limited for the year ended 31 March 2026 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of IT Managed Services Limited , as a body, in accordance with the terms of our engagement letter dated 24 April 2026. Our work has been undertaken solely to prepare for your approval the accounts of IT Managed Services Limited and state those matters that we have agreed to state to the director of IT Managed Services Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IT Managed Services Limited and its director, as a body, for our work or for this report.

It is your duty to ensure that IT Managed Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of IT Managed Services Limited . You consider that IT Managed Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of IT Managed Services 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 financial statements.

ERC Accountants and Business Advisers Limited

4 August 2026

ERC Accountants & Business Advisers Limited

Chartered Accountants

Hanover Buildings

11-13 Hanover Street

Liverpool

Merseyside

L1 3DN

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IT Managed Services Limited

Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: 06090409

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,603		5,473

			3,603		5,473
CURRENT ASSETS
Stocks	5	2,606		2,606
Debtors	6	80,109		98,426
Cash at bank and in hand		21,073		10,945

		103,788		111,977
Creditors: Amounts Falling Due Within One Year	7	(158,293 )		(111,696 )

NET CURRENT ASSETS (LIABILITIES)			(54,505 )		281

TOTAL ASSETS LESS CURRENT LIABILITIES			(50,902 )		5,754

Creditors: Amounts Falling Due After More Than One Year	8		(2,236 )		(3,083 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(1,175 )

NET (LIABILITIES)/ASSETS			(53,138 )		1,496

CAPITAL AND RESERVES
Called up share capital	10		210		210
Capital redemption reserve			195		195
Profit and Loss Account			(53,543 )		1,091

SHAREHOLDERS' FUNDS			(53,138)		1,496

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IT Managed Services Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 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 director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P F Taylor

Director

4 August 2026

The notes on pages 4 to 7 form part of these financial statements.

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IT Managed Services Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

IT Managed Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06090409 . The registered office is West Lancashire Investment Centre Maple View, White Moss Business Park, Skelmersdale, Lancashire, WN8 9TG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

2.3. Turnover

Revenue from product sales is recognised on delivery of the equipment. Revenue from software support is recognised as the services are performed.

2.4. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings	25% straight line
Computer equipment	33% straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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IT Managed Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. 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.

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

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2.10.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2025: 10)

4. Tangible Assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
As at 1 April 2025	12,354	119,802	132,156

As at 31 March 2026	12,354	119,802	132,156

Depreciation
As at 1 April 2025	6,881	119,802	126,683
Provided during the period	1,870	-	1,870

As at 31 March 2026	8,751	119,802	128,553

Net Book Value
As at 31 March 2026	3,603	-	3,603

As at 1 April 2025	5,473	-	5,473

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IT Managed Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Stocks

	2026	2025
	£	£
Stock	2,606	2,606

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	69,549	71,206
Other debtors	10,560	27,220

	80,109	98,426

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	82,011	52,689
Bank loans and overdrafts	26,667	10,000
Other creditors	22,685	5,510
Taxation and social security	26,930	43,497

	158,293	111,696

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	2,236	3,083

9. Secured Creditors

Of the creditors the following amounts are secured.

	2026		2025
	£		£
Bank loans and overdrafts	28,903		13,083

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	210	210

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IT Managed Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

11. Other Commitments

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

	2026	2025
	£	£
Not later than one year	10,181	13,553
Later than one year and not later than five years	1,473	11,655

	11,654	25,208

12. Directors Advances, Credits and Guarantees

No director received advances, credits or guarantees during the current or previous accounting periods.

13. Related Party Transactions

The following related party transactions were undertaken during the year:

A director of the company introduced amounts totalling £24,414 (2025: £19,000) and withdrew amounts totalling £4,500 (2025: £28,383). At the balance sheet date the balance payable to the director was £11,551 (2025: receiveable £8,363).

Dividends were paid to the directors in respect of their shareholders totalling £25,500 (2025: £82,500).

The aggregate remuneration paid to key management personnel for the year was £32,190 (2025: £27,770).

No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

14. Illegal Dividend

At the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.

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