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REGISTERED NUMBER: 04564422 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

INTEX PROJECTS LIMITED

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTEX PROJECTS LIMITED

COMPANY INFORMATION
for the year ended 30 November 2021







DIRECTORS: Mr S Swinson
Mr C Wolverson





REGISTERED OFFICE: Hawkstone House
Portland Mews
Leamington Spa
Warwickshire
CV32 5HD





REGISTERED NUMBER: 04564422 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

BALANCE SHEET
30 November 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 305,002 159,484
305,002 159,484

CURRENT ASSETS
Debtors 6 3,327,925 2,869,808
Cash at bank and in hand 712,477 2,047,416
4,040,402 4,917,224
CREDITORS
Amounts falling due within one year 7 3,446,905 4,488,596
NET CURRENT ASSETS 593,497 428,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

898,499

588,112

CREDITORS
Amounts falling due after more than one
year

8

(357,842

)

(301,620

)

PROVISIONS FOR LIABILITIES (47,576 ) (19,019 )
NET ASSETS 493,081 267,473

CAPITAL AND RESERVES
Called up share capital 164 164
Share premium 8,418 8,418
Retained earnings 484,499 258,891
SHAREHOLDERS' FUNDS 493,081 267,473

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

BALANCE SHEET - continued
30 November 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 22 August 2022 and were signed on its behalf by:




Mr S Swinson - Director



Mr C Wolverson - Director


INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2021


1. STATUTORY INFORMATION

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

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in
respect of service contracts where turnover is recognised when the company obtains the
right to consideration.

Intellectual property
The Intellectual Property of the Company was re-purchased in 2015. This has been written off over its estimated economical useful life.

Computer software
The Company purchased computer software in 2016. This has been written off over its its economical useful life of 2 years.

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.
Improvements to property - 25% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts and work in progress
Amounts recoverable on contracts are valued on a prudent basis at anticipated net sale value after provision for contingencies and anticipated future losses, less amounts invoiced. Progress payments in excess of the value of work done are included in current liabilities.

Amounts included in work in progress represent direct costs incurred, net of amounts transferred to the profit and loss account in respect of work carried out to date, less foreseeable losses and applicable payments on account.
This approach enables profit on contracting activities to be recognised as work progresses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2020
and 30 November 2021 40,210
AMORTISATION
At 1 December 2020
and 30 November 2021 40,210
NET BOOK VALUE
At 30 November 2021 -
At 30 November 2020 -

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2020 16,758 4,747 53,265
Additions - - -
At 30 November 2021 16,758 4,747 53,265
DEPRECIATION
At 1 December 2020 13,162 4,747 46,881
Charge for year 899 - 1,277
At 30 November 2021 14,061 4,747 48,158
NET BOOK VALUE
At 30 November 2021 2,697 - 5,107
At 30 November 2020 3,596 - 6,384

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2020 214,201 39,285 328,256
Additions 249,070 3,348 252,418
At 30 November 2021 463,271 42,633 580,674
DEPRECIATION
At 1 December 2020 74,319 29,663 168,772
Charge for year 97,237 7,487 106,900
At 30 November 2021 171,556 37,150 275,672
NET BOOK VALUE
At 30 November 2021 291,715 5,483 305,002
At 30 November 2020 139,882 9,622 159,484

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2020 214,201
Additions 249,070
Transfer to ownership (75,430 )
At 30 November 2021 387,841
DEPRECIATION
At 1 December 2020 74,319
Charge for year 97,237
Transfer to ownership 43,375
At 30 November 2021 214,931
NET BOOK VALUE
At 30 November 2021 172,910
At 30 November 2020 139,882

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 786,638 891,345
Amounts recoverable on contract 2,436,280 1,940,618
Other debtors 105,007 37,845
3,327,925 2,869,808

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 44,545 45,701
Hire purchase contracts (see note 9) 47,900 30,188
Trade creditors 2,386,393 2,838,127
Taxation and social security 247,344 290,952
Other creditors 720,723 1,283,628
3,446,905 4,488,596

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 155,909 216,417
Hire purchase contracts (see note 9) 201,933 85,203
357,842 301,620

INTEX PROJECTS LIMITED (REGISTERED NUMBER: 04564422)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 47,900 30,188
Between one and five years 201,933 85,203
249,833 115,391

Non-cancellable operating leases
2021 2020
£    £   
Within one year 26,500 26,500
Between one and five years 79,500 79,500
106,000 106,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2021 and 30 November 2020:

2021 2020
£    £   
Mr S Swinson
Balance outstanding at start of year - (30,977 )
Amounts advanced 20,000 30,977
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,000 -

Mr C Wolverson
Balance outstanding at start of year - (25,910 )
Amounts advanced 20,000 25,910
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,000 -

11. ULTIMATE CONTROLLING PARTY

The company is under the control of its directors, by virtue of their majority interest in the issued share capital of the company.