ITS (Aylesbury) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02117129 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ITS (AYLESBURY) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Dixon

C East

J Hill

P J Knight

S G Dixon

REGISTERED OFFICE:

Clock House

286 Kings Road

Reading

Berks

RG1 4HP

REGISTERED NUMBER:

02117129 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

The Lightbox

87 Castle Street

Reading

Berkshire

RG1 7SN

FIXED ASSETS

Tangible assets

4

17,287

-

CURRENT ASSETS

Debtors

5

641,497

655,471

Cash at bank

9,707

3,879

651,204

659,350

CREDITORS

Amounts falling due within one year

6

397,170

389,050

NET CURRENT ASSETS

254,034

270,300

TOTAL ASSETS LESS CURRENT LIABILITIES

271,321

270,300

PROVISIONS FOR LIABILITIES

489

-

NET ASSETS

270,832

270,300

CAPITAL AND RESERVES

Called up share capital

800

800

Capital redemption reserve

200

200

Retained earnings

269,832

269,300

270,832

270,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 and authorised for issue by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:

C East - Director

1.	STATUTORY INFORMATION

ITS (Aylesbury) Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff relates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Tangible fixed assets are initially measures at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor Vehicles - Straight line over 4 years

Fixtures and Fittings - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Leasing

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 year was 9 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

31,593

Additions

21,294

At 31 December 2022

52,887

DEPRECIATION

At 1 January 2022

31,593

Charge for year

4,007

At 31 December 2022

35,600

NET BOOK VALUE

At 31 December 2022

17,287

5.

DEBTORS

2022

2021

£

£

Amounts falling due within one year:

Trade debtors

603,900

608,337

Other debtors

31,682

41,219

635,582

649,556

Amounts falling due after more than one year:

Other debtors

5,915

5,915

Aggregate amounts

641,497

655,471

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

25,992

Amounts owed to group undertakings

344

-

Taxation and social security

135,887

157,562

Other creditors

260,939

205,496

397,170

389,050

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Invoice discounting

135,211

140,982

The overdraft and the confidential invoice discounting facility is secured by a fixed floating charge over the company assets.

8.	CONTINGENT LIABILITIES

Contingent liabilities amounting to £3,217,711 (2021: £3,539,310) exist in the form of composite cross company guarantees and indemnities in respect of bank overdraft and confidential invoice discounting facilities involving the following companies:

ITS (Holdings) Ltd, ITS (Aylesbury) Ltd, ITS (Construction Professionals) Ltd, ITS (Sussex) Ltd, ITS (Plymouth) Ltd, ITS (Western) Ltd, ITS (Exeter) Ltd, ITS (Asbestos) Ltd, ITS (Southampton) Ltd, ITS (Cymru) Ltd, Serrate Limited, ITS (Midlands) Ltd, ITS (Technical Recruitment) Ltd, ITS (Construction Professionals South) Ltd, ITS (Guildford) Ltd, ITS (M&E) Ltd, ITS (Financial Services) Ltd, ITS (Cheltenham) Ltd, ITS (National) Ltd.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

2022

2021

£

£

S G Dixon

Balance outstanding at start of year

9,100

9,100

Amounts repaid

(9,100

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

9,100

P J Knight

Balance outstanding at start of year

9,100

9,100

Amounts repaid

(9,100

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

9,100

C East

Balance outstanding at start of year

1,820

1,820

Amounts repaid

(1,820

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,820

J Hill

Balance outstanding at start of year

1,820

1,820

Amounts advanced

354

-

Amounts repaid

(1,820

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

354

1,820

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The parent company is ITS (Holdings) Limited, the registered office of which is Clock House, 286 Kings Road, Reading, RG1 4HP.

ITS (Holdings) Limited is the smallest, and largest, group of undertakings for which group accounts are drawn up in which ITS (Bristol) Limited is a member. Copies of the group accounts are available from its registered office.