ITS (Holdco) Limited - Period Ending 2021-12-31

ITS (Holdco) Limited

Contents

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

ITS (Holdco) Limited

Company Information

Directors

D A S Baythorpe I Shervell K D Gaskell S K Mclachlan A Simpson

Company secretary

C S Kameen

Registered office

6600 Cinnabar Court Daresbury Park Daresbury Warrington Cheshire WA4 4GE

Accountants

Abrams Ashton Ltd Chartered Accountants 7 Waterside Court St. Helens Merseyside WA9 1UA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ITS (Holdco) Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ITS (Holdco) Limited for the year ended 31 December 2021 as set out on pages 3 to 5 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 ITS (Holdco) 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 ITS (Holdco) Limited and state those matters that we have agreed to state to the Board of Directors of ITS (Holdco) 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 ITS (Holdco) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ITS (Holdco) 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 results of ITS (Holdco) Limited. You consider that ITS (Holdco) 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 ITS (Holdco) 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.

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

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

16 December 2022

ITS (Holdco) Limited

(Registration number: 12320566)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Investments	4	8,859,800	8,859,800
Current assets
Debtors	5	227,916	219,865
Net assets		9,087,716	9,079,665
Capital and reserves
Called up share capital		17,108	17,092
Share premium reserve		9,070,608	9,062,573
Shareholders' funds		9,087,716	9,079,665

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 December 2022 and signed on its behalf by:
 

......................................... A Simpson Director

ITS (Holdco) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
6600 Cinnabar Court Daresbury Park
Daresbury
Warrington
Cheshire
WA4 4GE
England

These financial statements were authorised for issue by the Board on 15 December 2022.

2	Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group..

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

ITS (Holdco) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4	Investments

	2021 £	2020 £
Investments in subsidiaries	8,859,800	8,859,800

Subsidiaries	£
Cost or valuation
At 1 January 2021	8,859,800
Provision
Carrying amount
At 31 December 2021	8,859,800
At 31 December 2020	8,859,800

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2021	2020
Subsidiary undertakings
ITS Technology Group Limited	Elm House Farm, Saighton Lane, Saighton, Chester CH3 6EN England	Ordinary	100%	100%

5

Debtors

	2021 £	2020 £
Other debtors	227,916	219,865