Company registration number SC689074 (Scotland)
IT34 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
PAGES FOR FILING WITH REGISTRAR
IT34 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
IT34 LTD
BALANCE SHEET
AS AT 31 MAY 2026
31 May 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
946
1,613
Current assets
Debtors
4
3,812
2,219
Investments
5
2,324
2,324
Cash at bank and in hand
9,942
16,174
16,078
20,717
Creditors: amounts falling due within one year
6
(16,765)
(15,593)
Net current (liabilities)/assets
(687)
5,124
Total assets less current liabilities
259
6,737
Provisions for liabilities
(236)
(403)
Net assets
23
6,334
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
22
6,333
Total equity
23
6,334

For the financial year ended 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 12 August 2026
Mr C T Murray
Director
Company registration number SC689074 (Scotland)
IT34 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
- 2 -
1
Accounting policies
Company information

IT34 Ltd is a private company limited by shares incorporated in Scotland. The registered office is 6th Floor, Gordon Chambers, 90 Mitchell Street, Glasgow, Scotland, G1 3NQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on a straight line basis
Computers
33% on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company holds physical palladium as current asset investments. These assets are acquired principally for the purpose of realising short‑term gains or for liquidity management. They do not meet the definition of cash equivalents and are therefore presented as other current investments.

1.5
Taxation

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

IT34 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2025
-
0
5,685
5,685
Additions
117
604
721
At 31 May 2026
117
6,289
6,406
Depreciation and impairment
At 1 June 2025
-
0
4,072
4,072
Depreciation charged in the year
29
1,359
1,388
At 31 May 2026
29
5,431
5,460
IT34 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
(Continued)
- 4 -
Carrying amount
At 31 May 2026
88
858
946
At 31 May 2025
-
0
1,613
1,613
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
3,379
2,219
Other debtors
433
-
0
3,812
2,219
5
Current asset investments
2026
2025
£
£
Other investments
2,324
2,324
6
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
-
0
8
Corporation tax
7,149
8,680
Other taxation and social security
4,876
5,581
Other creditors
4,740
1,324
16,765
15,593
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