ONE SOURCE IT LIMITED


Directors	SPYROU, Esme
	SPYROU, Leon


Company Secretary	CLARKE, Esme


Registered Address	Unit 1 Westleigh Business Park
	Winchester Avenue
	Blaby
	LE8 4EZ


Registered Number	05869527 (England and Wales)

Statement of Financial Position
31 July 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		9,726		11,502
			9,726		11,502
Current assets
Stocks	4	7,500		7,500
Debtors		225,803		292,267
Cash at bank and on hand		244,771		147,188
		478,074		446,955
Creditors amounts falling due within one year	5	(418,397)		(349,916)
Net current assets (liabilities)			59,677		97,039
Total assets less current liabilities			69,403		108,541
Creditors amounts falling due after one year	6		(13,333)		(22,685)
Provisions for liabilities	7		(3,369)		(3,369)
Net assets			52,701		82,487
Capital and reserves
Called up share capital			4		4
Profit and loss account			52,697		82,483
Shareholders' funds			52,701		82,487

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2025, and are signed on its behalf by:

SPYROU, Leon
Director
Registered Company No. 05869527

ONE SOURCE IT LIMITED

Notes to the Financial Statements
for the year ended 31 July 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	4
	Office Equipment	4

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	6		5

3.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 August 24	-	11,192	37,913	49,105
Additions	874	-	6,932	7,806
At 31 July 25	874	11,192	44,845	56,911
Depreciation and impairment
At 01 August 24	-	8,901	28,702	37,603
Charge for year	218	2,291	7,073	9,582
At 31 July 25	218	11,192	35,775	47,185
Net book value
At 31 July 25	656	-	9,070	9,726
At 31 July 24	-	2,291	9,211	11,502

4.	Stocks

	2025	2024
	£	£
Other stocks	7,500	7,500
Total	7,500	7,500

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	93,239	20,103
Bank borrowings and overdrafts	1,555	1,208
Taxation and social security	80,389	103,569
Accrued liabilities and deferred income	243,214	225,036
Total	418,397	349,916


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	13,333	22,685
Total	13,333	22,685

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	3,369	3,369
Total	3,369	3,369