Everything Tech Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07384870 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 31 DECEMBER 2022

FOR

EVERYTHING TECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M D Allen

P J Smith

REGISTERED OFFICE:

Unit 10 Clock Court Campbell Way

Dinnington

Sheffield

S25 3QD

REGISTERED NUMBER:

07384870 (England and Wales)

AUDITORS:

Goldwyns Limited

Statutory Auditors and Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Intangible assets

4

4,333

-

Tangible assets

5

21,412

51,786

Investments

6

613,120

627,186

638,865

678,972

CURRENT ASSETS

Debtors

7

946,230

297,667

Cash at bank and in hand

210,415

483,290

1,156,645

780,957

CREDITORS

Amounts falling due within one year

8

1,692,535

675,236

NET CURRENT (LIABILITIES)/ASSETS

(535,890

)

105,721

TOTAL ASSETS LESS CURRENT LIABILITIES

102,975

784,693

CREDITORS

Amounts falling due after more than one year

9

-

(399,596

)

PROVISIONS FOR LIABILITIES

(4,000

)

(9,840

)

NET ASSETS

98,975

375,257

CAPITAL AND RESERVES

Called up share capital

122

122

Share premium

1,998

1,998

Retained earnings

96,855

373,137

98,975

375,257

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 10 August 2023 and were signed on its behalf by:

M D Allen - Director

1.	STATUTORY INFORMATION

Everything Tech 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.

The financial statements cover a period of 15 months, whilst the comparatives report a full year. This change was made in order to align the reporting date with that of the other group companies. For this reason, the figures are not entirely comparable.

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.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

33% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 period was 33 (2021 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

5,000

At 31 December 2022

5,000

AMORTISATION

Charge for period

667

At 31 December 2022

667

NET BOOK VALUE

At 31 December 2022

4,333

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2021

-

42,737

47,498

90,235

Additions

1,650

-

19,816

21,466

Impairments

-

(3,089

)

(28,142

)

(31,231

)

At 31 December 2022

1,650

39,648

39,172

80,470

DEPRECIATION

At 1 October 2021

-

25,245

13,204

38,449

Charge for period

423

7,221

12,965

20,609

At 31 December 2022

423

32,466

26,169

59,058

NET BOOK VALUE

At 31 December 2022

1,227

7,182

13,003

21,412

At 30 September 2021

-

17,492

34,294

51,786

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2021

627,186

Disposals

(14,066

)

At 31 December 2022

613,120

NET BOOK VALUE

At 31 December 2022

613,120

At 30 September 2021

627,186

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

425,307

234,496

Amounts owed by group undertakings

395,000

-

Other debtors

125,923

63,171

946,230

297,667

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

79,911

Trade creditors

199,955

216,283

Amounts owed to group undertakings

548,825

-

Taxation and social security

189,924

141,539

Other creditors

753,831

237,503

1,692,535

675,236

Included with bank loans is an amount of £nil (2021 - £41,667) which is secured by a fixed and floating charge over the assets of the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

399,596

Included with bank loans is an amount of £nil (2021 - £152,778) which is secured by a fixed and floating charge over the assets of the company.

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

62,090

62,090

Between one and five years

77,612

155,224

139,702

217,314

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Howe BEng FCA (Senior Statutory Auditor)

for and on behalf of Goldwyns Limited

12.	CONTINGENT LIABILITIES

The company has given cross-guarantees is respect of its parent company's debts. At the balance sheet date, these liabilities totalled £8,050,000 (2021 - £nil).

13.	ULTIMATE PARENT COMPANY

As at the balance sheet date, the directors consider the ultimate parent company to be Managed IT Services Group Limited, a company registered in England and Wales.

14.	PRIOR PERIOD FINANCIAL STATEMENTS

The comparative financial statements and corresponding figures were not audited.