IT Energy Systems and Consulting Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03101263 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

IT ENERGY SYSTEMS AND CONSULTING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

M Papageorge

J Butler

SECRETARY:

M Papageorge

REGISTERED OFFICE:

Room 101, St Magnus House

3 Lower Thames Street

London

EC3R 6HD

REGISTERED NUMBER:

03101263 (England and Wales)

ACCOUNTANTS:

Liles Morris Limited

1st Floor

80 Coombe Road

New Malden

Surrey

KT3 4QS

FIXED ASSETS

Tangible assets

5

107,211

42,188

CURRENT ASSETS

Debtors

6

550,221

357,919

Cash at bank

666,322

734,222

1,216,543

1,092,141

CREDITORS

Amounts falling due within one year

7

944,210

961,200

NET CURRENT ASSETS

272,333

130,941

TOTAL ASSETS LESS CURRENT LIABILITIES

379,544

173,129

CREDITORS

Amounts falling due after more than one year

8

44,680

-

NET ASSETS

334,864

173,129

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

334,764

173,029

SHAREHOLDERS' FUNDS

334,864

173,129

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 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 Board of Directors on 19 February 2018 and were signed on its behalf by:

J Butler - Director

M Papageorge - Director

1.	STATUTORY INFORMATION

IT Energy Systems and Consulting 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.	STATEMENT OF COMPLIANCE

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. There were no material departures from FRS 102 Section 1A "Small Entities".

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A "Small Entities". The date of transition is 1 April 2016.

The transition to FRS Section 1A "Small Entities" has resulted in no changes in accounting policies to those used

previously and consequently the comparatives have not been restated.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Furniture & fittings

-

25% on cost

Motor vehicles

-

33% on cost

Equipment

-

50% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 .

5.	TANGIBLE FIXED ASSETS

Furniture

Motor

& fittings

vehicles

Equipment

Totals

£

£

£

£

COST

At 1 October 2016

52,410

-

48,127

100,537

Additions

15,726

65,272

20,220

101,218

Disposals

(1,222

)

-

(3,936

)

(5,158

)

At 30 September 2017

66,914

65,272

64,411

196,597

DEPRECIATION

At 1 October 2016

21,021

-

37,328

58,349

Charge for year

12,092

10,879

12,486

35,457

Eliminated on disposal

(484

)

-

(3,936

)

(4,420

)

At 30 September 2017

32,629

10,879

45,878

89,386

NET BOOK VALUE

At 30 September 2017

34,285

54,393

18,533

107,211

At 30 September 2016

31,389

-

10,799

42,188

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

Additions

65,272

At 30 September 2017

65,272

DEPRECIATION

Charge for year

10,879

At 30 September 2017

10,879

NET BOOK VALUE

At 30 September 2017

54,393

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

394,665

262,185

Provision for doubtful debts

(3,694

)

(886

)

Other debtors

50

824

Employee advances

10,346

7,126

Rent deposit

60,915

27,679

Prepayments and accrued income

87,939

60,991

550,221

357,919

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Finance leases

16,569

-

Trade creditors

107,795

69,261

Tax

64,325

85,743

Social security and other taxes

46,187

43,171

VAT

335

24,829

Pensions payable

888

-

Directors' current accounts

2,181

8,743

Accruals and deferred income

705,930

729,453

944,210

961,200

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Finance leases

44,680

-

9.	OTHER FINANCIAL COMMITMENTS

The company had rental and service charge commitments totalling £17,150 (2016: £17,150) at the balance sheet

date.

The directors have confirmed that there are no other financial commitments or guarantees that require disclosure

within the financial statements.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company maintained a loan account with the director J Butler. At 1 October 2016 the company owed J

Butler £4,995. During the year J Butler loaned the company £32,750 and the company paid £37,796 to J Butler.

At the balance sheet date the company was owed £51.

11.	RELATED PARTY DISCLOSURES

The company maintained a loan account with the director M Papageorge. At the balance sheet date the company

owed £2,232 (2016: £3,750) to the director.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who own or influence 100% of the issued share capital.

There is no ultimate controlling party as no director has a majority share holding.

The following reproduces the text of the report prepared for the directors 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 Directors 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 IT Energy Systems and Consulting Ltd for the year ended 30 September 2017 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 Board of Directors of IT Energy Systems and Consulting Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IT Energy Systems and Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of IT Energy Systems and Consulting Ltd, as a body, 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 IT Energy Systems and Consulting Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IT Energy Systems and Consulting Ltd 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 IT Energy Systems and Consulting Ltd. You consider that IT Energy Systems and Consulting Ltd 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 IT Energy Systems and Consulting Ltd. 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.

Liles Morris Limited

1st Floor

80 Coombe Road

New Malden

Surrey

KT3 4QS

19 February 2018