Bondgate I.T. Services Limited - Period Ending 2020-06-30

Bondgate I.T. Services Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Balance Sheet	4
Notes to the Unaudited Financial Statements	5

Bondgate I.T. Services Limited

Company Information

Director

G Brown

Registered office

Newham House 3 Dudley Court Dudley Road Darlington County Durham DL1 4GG

Accountants

Blu Sky Tax Limited Ye Olde Hundred 69 Church Way North Shields NE29 0AE

Bondgate I.T. Services Limited

Director's Report for the Year Ended 30 June 2020

The director presents his report and the financial statements for the year ended 30 June 2020.

Director of the company

The director who held office during the year was as follows:

G Brown

Principal activity

The principal activity of the company is the provision of information technology consultancy services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 18 March 2021 and signed on its behalf by:

.........................................
G Brown
Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bondgate I.T. Services Limited
for the Year Ended 30 June 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bondgate I.T. Services Limited for the year ended 30 June 2020 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bondgate I.T. Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bondgate I.T. Services Limited and state those matters that we have agreed to state to the Board of Directors of Bondgate I.T. Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bondgate I.T. Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bondgate I.T. Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bondgate I.T. Services Limited. You consider that Bondgate I.T. Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bondgate I.T. Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blu Sky Tax Limited
Ye Olde Hundred
69 Church Way
North Shields
NE29 0AE

18 March 2021

Bondgate I.T. Services Limited

(Registration number: 03573055)
Balance Sheet as at 30 June 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	3	90,726	85,494
Current assets
Debtors	4	347,900	902,673
Cash at bank and in hand		449,954	283
		797,854	902,956
Creditors: Amounts falling due within one year	5	(389,716)	(508,402)
Net current assets		408,138	394,554
Total assets less current liabilities		498,864	480,048
Creditors: Amounts falling due after more than one year	5	(60,003)	(10,636)
Provisions for liabilities		(15,784)	(15,702)
Net assets		423,077	453,710
Capital and reserves
Called up share capital		100	100
Profit and loss account		422,977	453,610
Shareholders' funds		423,077	453,710

For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 March 2021

.........................................

G Brown

Director

Bondgate I.T. Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

1	General information

The company registered number is: 03573055

The company is a private company limited by share capital, incorporated in the United Kingdom, registered in England and Wales.

The address of its registered office is:
Newham House
3 Dudley Court
Dudley Road
Darlington
County Durham
DL1 4GG

2	Accounting policies

Statement of compliance

These financial statements were prepared in accordance with the provisions of FRS 102 Section 1A - small entities applicable in the UK and Republic of Ireland. There were no material departures from that standard.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements were prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Bondgate I.T. Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, Fittings, Tools and Equipment	20% Reducing balance
Motor Vehicles	25% Reducing balance
Leasehold Improvements	5% Straight line

Research and development costs

Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Deferred taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
 

Bondgate I.T. Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

3	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2019	16,194	22,010	225,253	29,529	292,986
Additions	-	-	10,960	19,647	30,607
Disposals	-	-	-	(13,599)	(13,599)
At 30 June 2020	16,194	22,010	236,213	35,577	309,994
Depreciation
At 1 July 2019	2,922	6,481	180,678	17,411	207,492
Charge for the year	810	3,002	7,799	5,902	17,513
Eliminated on disposal	-	-	-	(5,737)	(5,737)
At 30 June 2020	3,732	9,483	188,477	17,576	219,268
Carrying amount
At 30 June 2020	12,462	12,527	47,736	18,001	90,726
At 30 June 2019	13,272	15,529	44,575	12,118	85,494

4

Debtors

	2020 £	2019 £
Trade debtors	272,414	831,801
Prepayments	16,226	8,751
Other debtors	59,260	62,121
	347,900	902,673

Bondgate I.T. Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

5

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019 £
Due within one year
Loans and borrowings		2,728	54,946
Trade creditors		113,437	302,372
Taxation and social security		197,650	97,762
Accruals and deferred income		65,972	35,477
Other creditors		9,929	17,845
		389,716	508,402

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings		60,003	10,636

	2020 £	2019 £
Due after more than five years
After more than five years by instalments	11,332	-

	-	-

6	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £12,731 (2019 - £13,106). The financial commitments are secured on the tangible assets to which they relate.

7	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2019 - 15).