REGISTERED NUMBER:
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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ABRIDGED BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 7 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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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. |
INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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ABRIDGED BALANCE SHEET - continued |
31 DECEMBER 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Information Technology Integration Limited is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes that the |
company will continue in operational existence for the foreseeable future. The validity of this |
assumption depends upon the continuing support of the Director to whom the company is indebted to |
the sum of £48 and also the company's bankers to whom the it is indebted to the sum of £16,456. If |
the company were unable to continue in operational existence for the foreseeable future, adjustments |
would have to be made to reduce the balance sheet values of assets to their recoverable amounts and |
to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities |
as current assets and liabilities. The director believes that it is appropriate for the financial statements |
to be prepared on a going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and |
discounts. The policies adopted for the recognition of turnover are as follows: |
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Rendering of services: |
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When rendering services, turnover is recognised by reference to the stage of completion at the balance |
sheet date |
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Tangible fixed assets |
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Computer equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing stocks to their present location and condition. |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
a past event, it is probable that an outflow of economic benefit will be required in settlement and the |
amount can be reliable estimated. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administration expenses. |
INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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4. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans (see note 5) |
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5. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loan |
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Loan | 1,085 | - |
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Amounts falling due between one and two years: |
Bank loan |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Bank loans |
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All bank loans are stated at fair value. |
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The bank loan has been secured by a fixed and floating charge over the property or undertakings of |
the Company. |
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7. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax | 655 | 1,382 |
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Deferred |
tax |
£ |
Balance at 1 January 2016 |
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Accelerated capital allowances | (727 | ) |
Balance at 31 December 2016 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 |
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Profit for the year |
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At 31 December 2016 |
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INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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10. | CAPITAL COMMITMENTS |
2016 | 2015 |
£ | £ |
Contracted but not provided for in the |
financial statements | - | - |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2016 |
and 31 December 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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12. | RELATED PARTY DISCLOSURES |
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Included in amounts owed to participating interests are amounts owed by CB9 Limited of £19,490 and |
owed to K2BZ Limited and Computers for Flooring Limited of £200 and £4,253 respectively. |
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Included in debtors are amounts owed by CB9 Limited of £8,200. |
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Included in Sales is £33,744 for software and consultancy work completed for Computers for Flooring |
Limited and £18,000 for CB9 Limited. |
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All of the above Companies are wholly or partly owned by the Director K Bailey. |
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13. | POST BALANCE SHEET EVENTS |
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There are no post balance sheet events |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is K Bailey. |
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15. | EMPLOYEES & DIRECTORS |
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There average number of Directors was 1 during the course of the year (2015:1) |
INFORMATION TECHNOLOGY INTEGRATION |
LIMITED (REGISTERED NUMBER: 04118892) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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16. | FIRST YEAR ADOPTION |
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Transitional relief |
On transition to FRS 102, the company has taken advantage of the following transitional relief: |
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to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of
property, plant and equipment. |