IT First Limited - Abbreviated accounts 16.1
IT First Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
| FOR |
| IT FIRST LTD |
| IT FIRST LTD (REGISTERED NUMBER: 03222864) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| IT FIRST LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| IT FIRST LTD (REGISTERED NUMBER: 03222864) |
| ABBREVIATED BALANCE SHEET |
| 30 SEPTEMBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debts |
| Trade debtors subject to financing arrangements |
166,955 |
115,481 |
| Owed to factoring agent | 14,233 | 18,507 |
| 181,188 | 133,988 |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| IT FIRST LTD (REGISTERED NUMBER: 03222864) |
| ABBREVIATED BALANCE SHEET - continued |
| 30 SEPTEMBER 2015 |
| The financial statements were approved by the Board of Directors on |
| IT FIRST LTD (REGISTERED NUMBER: 03222864) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared on the basis that the company will continue to be a going |
| concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the |
| value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify |
| fixed assets and long term liabilities as current assets and liabilities. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when |
| the goods are physically delivered to the customer except for sales of services where turnover is recognised at |
| the point the customer is entitled to consideration. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Intangible assets - development costs |
| Development costs, being the amount paid in connection with the freehold property, is being amortised over |
| its useful life. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 October 2014 |
| and 30 September 2015 |
| NET BOOK VALUE |
| At 30 September 2015 |
| At 30 September 2014 |
| IT FIRST LTD (REGISTERED NUMBER: 03222864) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 October 2014 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2015 |
| DEPRECIATION |
| At 1 October 2014 |
| Charge for year |
| At 30 September 2015 |
| NET BOOK VALUE |
| At 30 September 2015 |
| At 30 September 2014 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary A | £1 |
| Ordinary B | £1 |
| 100 | 100 |
| 5. | ULTIMATE PARENT COMPANY |
| This was by virtue of 100% shareholding in IT First Limited. |
| 6. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| This was by virtue of his majority shareholding in IT First Limited's parent company, Response Holdings Limited. |