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Registered number: 04743928
Distinct IT Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 April 2025
HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
Contents
Page
Company Information 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—6
Page 1
Company Information
Directors Mr P Harding
Mr B J Tilley
Secretary Mrs R E Tilley
Company Number 04743928
Registered Office Unit 32 Phoenix Business Park
Telford Street
Newport
South Wales
NP19 0LW
Accountants HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
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Abridged Balance Sheet
Registered number: 04743928
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,301 58,685
Investments 5 8,000 8,000
55,301 66,685
CURRENT ASSETS
Debtors 63,173 56,455
Cash at bank and in hand 35,190 65,139
98,363 121,594
Creditors: Amounts Falling Due Within One Year (121,880 ) (148,470 )
NET CURRENT ASSETS (LIABILITIES) (23,517 ) (26,876 )
TOTAL ASSETS LESS CURRENT LIABILITIES 31,784 39,809
Creditors: Amounts Falling Due After More Than One Year (18,981 ) (25,509 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,262 ) (13,985 )
NET ASSETS 1,541 315
CAPITAL AND RESERVES
Called up share capital 7 101 101
Profit and Loss Account 1,440 214
SHAREHOLDERS' FUNDS 1,541 315
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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.
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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr B J Tilley
Director
14 November 2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Abridged Financial Statements
1. General Information
Distinct IT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04743928 . The registered office is Unit 32 Phoenix Business Park, Telford Street, Newport, South Wales, NP19 0LW.
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. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period the revision and future periods where the revisions affects both current and future periods
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any 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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 15% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.6. 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 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
Average number of employees, including directors, during the year was: 11 (2024: 10)
11 10
4. Tangible Assets
Total
£
Cost
As at 1 May 2024 97,315
Additions 503
As at 30 April 2025 97,818
Depreciation
As at 1 May 2024 38,630
Provided during the period 11,887
As at 30 April 2025 50,517
Net Book Value
As at 30 April 2025 47,301
As at 1 May 2024 58,685
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5. Investments
Total
£
Cost
As at 1 May 2024 8,000
As at 30 April 2025 8,000
Provision
As at 1 May 2024 -
As at 30 April 2025 -
Net Book Value
As at 30 April 2025 8,000
As at 1 May 2024 8,000
6. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,077 7,077
Later than five years 18,981 25,509
26,058 32,586
26,058 32,586
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 101 101
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 8,550 8,550
Later than one year and not later than five years 713 9,263
9,263 17,813
9. Related Party Transactions
Tilley's Holding Company LimitedParticipating interestDuring the year there has been no movement in the balance due from Tilley's Holding Company Limited to the company. At the balance sheet date the amount due from Tilley's Holding Company Limited to the company in relation to an unsecured, interest free, repayable on demand loan was £14,442 (2024 - £14,442).

Tilley's Holding Company Limited

Participating interest

During the year there has been no movement in the balance due from Tilley's Holding Company Limited to the company. At the balance sheet date the amount due from Tilley's Holding Company Limited to the company in relation to an unsecured, interest free, repayable on demand loan was £14,442 (2024 - £14,442).

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