MY IT SUPPORT LIMITED - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08073634 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MY IT SUPPORT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

P A Buxton

REGISTERED OFFICE:

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

REGISTERED NUMBER:

08073634 (England and Wales)

ACCOUNTANTS:

Sowerbutts and Co Ltd

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

FIXED ASSETS

Tangible assets

4

1,183

2,288

CURRENT ASSETS

Stocks

316

316

Debtors

5

8,192

3,967

Cash at bank

4,275

1,440

12,783

5,723

CREDITORS

Amounts falling due within one year

6

13,698

9,710

NET CURRENT LIABILITIES

(915

)

(3,987

)

TOTAL ASSETS LESS CURRENT LIABILITIES

268

(1,699

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

168

(1,799

)

SHAREHOLDERS' FUNDS

268

(1,699

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 December 2023 and were signed by:

P A Buxton - Director

1.	STATUTORY INFORMATION

MY IT SUPPORT 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

The accounts have been prepared on a going concern basis despite the net asset deficiency due to the ongoing support from the Director.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office Equipment

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

Computer

Equipment

equipment

Totals

£

£

£

COST

At 1 June 2022

2,321

8,167

10,488

Disposals

-

(6,376

)

(6,376

)

At 31 May 2023

2,321

1,791

4,112

DEPRECIATION

At 1 June 2022

2,088

6,112

8,200

Charge for year

58

335

393

Eliminated on disposal

-

(5,664

)

(5,664

)

At 31 May 2023

2,146

783

2,929

NET BOOK VALUE

At 31 May 2023

175

1,008

1,183

At 31 May 2022

233

2,055

2,288

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/23

31/5/22

£

£

Trade debtors

8,192

3,394

Other debtors

-

573

8,192

3,967

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/23

31/5/22

£

£

Trade creditors

-

(1

)

Taxation and social security

1,468

(258

)

Other creditors

12,230

9,969

13,698

9,710

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/23

31/5/22

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by P A Buxton Esq. by virtue of his controlling shareholding.

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MY IT SUPPORT LIMITED for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MY IT SUPPORT LIMITED in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MY IT SUPPORT LIMITED and state those matters that we have agreed to state to the director of MY IT SUPPORT LIMITED in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MY IT SUPPORT LIMITED and its director for our work or for this report.

It is your duty to ensure that MY IT SUPPORT LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MY IT SUPPORT LIMITED. You consider that MY IT SUPPORT 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 financial statements of MY IT SUPPORT 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 financial statements.

Sowerbutts and Co Ltd

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

Date: .............................................