Bristol IT Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06981921 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

BRISTOL IT COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

A Khataee

B Grantham

SECRETARY:

REGISTERED OFFICE:

Castlemead

Lower Castle Street

Bristol

BS1 3AG

REGISTERED NUMBER:

06981921 (England and Wales)

ACCOUNTANTS:

Wotton Accountancy Associates Limited

Stag House

The Chipping

Wotton under Edge

Gloucestershire

GL12 7AD

FIXED ASSETS

Intangible assets

4

25,000

37,500

Tangible assets

5

41,830

37,619

66,830

75,119

CURRENT ASSETS

Debtors

6

128,399

181,325

Cash at bank

42,692

27,531

171,091

208,856

CREDITORS

Amounts falling due within one year

7

191,930

214,681

NET CURRENT LIABILITIES

(20,839

)

(5,825

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,991

69,294

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

40,991

64,294

SHAREHOLDERS' FUNDS

45,991

69,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1 March 2019 and were signed on its behalf by:

A Khataee - Director

1.	STATUTORY INFORMATION

Bristol IT Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax

and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it

relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted

by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which

they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or

substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2017

and 31 October 2018

125,000

AMORTISATION

At 1 November 2017

87,500

Charge for year

12,500

At 31 October 2018

100,000

NET BOOK VALUE

At 31 October 2018

25,000

At 31 October 2017

37,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

79,415

Additions

18,154

At 31 October 2018

97,569

DEPRECIATION

At 1 November 2017

41,796

Charge for year

13,943

At 31 October 2018

55,739

NET BOOK VALUE

At 31 October 2018

41,830

At 31 October 2017

37,619

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

128,399

181,325

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

64,956

47,781

Taxation and social security

84,836

147,562

Other creditors

42,138

19,338

191,930

214,681

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are

cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2018 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wotton Accountancy Associates Limited

Stag House

The Chipping

Wotton under Edge

Gloucestershire

GL12 7AD

1 March 2019