| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| FOR |
| It's Your Business Limited |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| FOR |
| It's Your Business Limited |
| It's Your Business Limited (Registered number: 10451664) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| It's Your Business Limited |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| The Stable Yard |
| Vicarage Road |
| Stony Stratford |
| Milton Keynes |
| Buckinghamshire |
| MK11 1BN |
| It's Your Business Limited (Registered number: 10451664) |
| BALANCE SHEET |
| 31 OCTOBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| It's Your Business Limited (Registered number: 10451664) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 1. | STATUTORY INFORMATION |
| It's Your Business Limited is a |
| 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 |
| 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 |
| Fixtures and fittings | - |
| Financial instruments |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
| contractual provision of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is |
| a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
| realise the asset and settle the liability simultaneously. |
| Basic Financial Assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
| price including transaction costs and are subsequently carried at amortised costs using the effective interest |
| method unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
| present value of the future receipts discounted at a market rate of interest. Financial assets classified as |
| receivable within one year are not amortised. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual |
| arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the |
| company after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and loans from related companies are initially recognised at |
| transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is |
| measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities |
| classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised costs, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
| business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or |
| less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction |
| price and subsequently measured at amortised cost using the effective interest method. |
| It's Your Business Limited (Registered number: 10451664) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
| Retained Earnings, 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other debtors |
| It's Your Business Limited (Registered number: 10451664) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |