CIT Solutions Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06419425 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

CIT SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr L Malka

SECRETARY:

Mrs H Doron-Malka

REGISTERED OFFICE:

96 Gladstone Park Gardens

London

NW2 6JX

REGISTERED NUMBER:

06419425 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Tangible assets

4

1,532

2,043

CURRENT ASSETS

Debtors

5

6,666

6,482

Cash at bank

10,822

6,481

17,488

12,963

CREDITORS

Amounts falling due within one year

6

6,130

4,447

NET CURRENT ASSETS

11,358

8,516

TOTAL ASSETS LESS CURRENT LIABILITIES

12,890

10,559

PROVISIONS FOR LIABILITIES

7

291

-

NET ASSETS

12,599

10,559

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

12,499

10,459

SHAREHOLDERS' FUNDS

12,599

10,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 February 2018 and were signed by:

Mr L Malka - Director

1.	STATUTORY INFORMATION

CIT Solutions 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents gross invoiced sales of services.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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.

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 5 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2016

and 30 November 2017

5,710

DEPRECIATION

At 1 December 2016

3,667

Charge for year

511

At 30 November 2017

4,178

NET BOOK VALUE

At 30 November 2017

1,532

At 30 November 2016

2,043

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

6,666

6,482

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

3,893

3,347

Other creditors

2,237

1,100

6,130

4,447

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

291

-

Deferred

tax

£

Provided during year

291

Balance at 30 November 2017

291

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the employee's. Amounts charged

to the profit and loss account were £140 for the year (2016: £nil). There were no outstanding or prepaid

contributions at the balance sheet date.