Registered number |
for the year ended |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholders' funds | |||||||
K. A. Beimers | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Research and development | ||||||||
Expenditure on the research phase of an internal project is recognised as an expense in the period in which it is incurred. Development costs incurred on specific projects are capitalised when all the following conditions are satisfied: Completion of the asset is technically feasible so that it will be available for use or sale The company intends to complete the asset and use or sell it The company has the ability to use or sell the asset and the asset will generate probable future economic benefits (over and above cost) There are adequate technical, financial and other resources to complete the development and to use or sell the asset, and The expenditure attributable to the asset during its development can be measured reliably. Development costs not meeting the criteria for capitalisation are expensed as incurred. The cost of an internally generated asset comprises all directly attributable costs necessary to create, produce and prepare the asset to be capable of operating in the manner intended by management. Directly attributable costs include employee costsincurred along with third party costs. Careful judgement by the directors is applied when deciding whether the recognition requirements for development costs have been met. Judgements are based on the information available at each balance sheet date. In addition, all internal activities related to the research and development of new projects are continuously monitored by the directors. |
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Intangible fixed assets | ||||||||
Tangible fixed assets | ||||||||
Plant and machinery | 33% on cost | |||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Pensions | ||||||||
2 | Employees | 2021 | 2020 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 January 2021 | ||||||||
At 31 December 2021 | ||||||||
Amortisation | ||||||||
At 1 January 2021 | ||||||||
At 31 December 2021 | ||||||||
Net book value | ||||||||
At 31 December 2021 | - | |||||||
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. | ||||||||
4 | Tangible fixed assets | |||||||
Plant and machinery | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2021 | ||||||||
Additions | ||||||||
At 31 December 2021 | ||||||||
Depreciation | ||||||||
At 1 January 2021 | ||||||||
Charge for the year | ||||||||
At 31 December 2021 | ||||||||
Net book value | ||||||||
At 31 December 2021 | ||||||||
At 31 December 2020 | ||||||||
5 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Other debtors | ||||||||
Accrued income | 135,599 | - | ||||||
6 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Directors current account | 148 | - | ||||||
Other creditors | ||||||||
Deferred income | - | 93,511 | ||||||
7 | Related party transactions | |||||||
8 | Controlling party | |||||||
9 | Other information | |||||||
Italic Pig Ltd is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
59-60 Grosvenor Street | ||||||||
London | ||||||||
W1K 3HZ |