Contracts IT Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07531698 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Contracts IT Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Afzal

N Faiz

REGISTERED OFFICE:

6 Houghton Square

378 Clapham Road

London

SW9 9AN

REGISTERED NUMBER:

07531698 (England and Wales)

FIXED ASSETS

Tangible assets

4

180,720

180,720

Investments

5

3,000,000

3,000,000

3,180,720

3,180,720

CURRENT ASSETS

Debtors

6

77,181

297,958

Cash at bank

829

976

78,010

298,934

CREDITORS

Amounts falling due within one year

7

300

1,442

NET CURRENT ASSETS

77,710

297,492

TOTAL ASSETS LESS CURRENT LIABILITIES

3,258,430

3,478,212

CAPITAL AND RESERVES

Called up share capital

8

1,564,402

1,564,402

Capital redemption reserve

935,600

935,600

Retained earnings

758,428

978,210

SHAREHOLDERS' FUNDS

3,258,430

3,478,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 14 December 2020 and were signed on its behalf by:

Mrs N Afzal - Director

N Faiz - Director

1.	STATUTORY INFORMATION

Contracts IT Group Limited 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.

Tangible fixed assets

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the

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

Current or deferred taxation assets and liabilities are not discounted.

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

substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 April 2019

and 31 March 2020

180,720

NET BOOK VALUE

At 31 March 2020

180,720

At 31 March 2019

180,720

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2019

and 31 March 2020

3,000,000

NET BOOK VALUE

At 31 March 2020

3,000,000

At 31 March 2019

3,000,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Amounts owed by group undertakings

-

297,958

Other debtors

77,181

-

77,181

297,958

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other creditors

300

1,442

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

1,564,400

Ordinary

£1

1,564,400

1,564,400

1

Ordinary share A

£1

1

1

1

Ordinary share B

£1

1

1

1,564,402

1,564,402

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet, the directors accounts has a debit balance of £77,181 (2019: £1,142 Cr).

10.	ULTIMATE CONTROLLING PARTY

There is no controlling party. The company is controlled by the board of directors.