CABLE IT SOLUTIONS LIMITED
REGISTERED NUMBER: 9687491
BALANCE SHEET
AS AT 31 JULY 2022
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Notes
Cable IT Solutions Limited is a company limited by shares whose registered office is Strood Hall, Stortford Road, Little Canfield, Dunmow CM6 1SN, incorporated in England and Wales, registration number 9687491.
The principal activity of the company continued to be that of IT consultancy.
As with most businesses we have been impacted by the Coronavirus (Covid 19). This has had an impact on our operations, customers, suppliers and staff. We have utilised the grants and benefits available from the Government and are taking all the steps we can to protect the future of our business. Although the total impact is still uncertain, the directors believe that the company has a strong future.
The grants and benefits used by the company were the Coronavirus Job Retention Scheme and the Bounceback loan scheme.
Average number of employees
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The average monthly number of employees, including directors, during the year was 2 (2021 - 2).
Directors' benefits: advances, credits and guarantees
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At 31 July 2022 John Holland owed the company £23,082 (2021 - £52,301). Interest was charged on this loan of 2.5% amounting to £653.76.
At 31 July 2022 James Holland owed the company £9,264 (2021 - James Holland was owed £22,295). Interest was charged on this loan of 2.5% amounting to £288.
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CABLE IT SOLUTIONS LIMITED
REGISTERED NUMBER: 9687491
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2022
Guarantees and other financial commitments
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At 31 July 2022 the balance outstanding was £35,051 (2021 - £40,076). The loan is secured on the asset it was used to purchase.
During the year ended 31 July 2020 company took out a Government-backed Bounceback loan of £30,000. This is to be repaid over 6 years with an interest rate of 2.5%pa. The Government has committed to paying the interest on the loan for the first 12 months. At 31 July 2022 £23,266 (2021 - £29,060) was outstanding.
Directors' confirmations
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2023.
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