REGISTERED NUMBER: |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
REGISTERED NUMBER: |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED (REGISTERED NUMBER: 07077056) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED (REGISTERED NUMBER: 07077056) |
ABRIDGED BALANCE SHEET |
31 December 2021 |
31/12/21 | 31/12/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED (REGISTERED NUMBER: 07077056) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
The Institute of Circuit Technology Limited is a |
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 in relation to income from subscriptions. |
Tangible fixed assets |
Fixtures & fittings | - |
Office equipment | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
THE INSTITUTE OF CIRCUIT TECHNOLOGY |
LIMITED (REGISTERED NUMBER: 07077056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2021 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
6. | ULTIMATE CONTROLLING PARTY |
The institute is under the joint control of the board. |
7. | COVID-19 AND GOING CONCERN |
The company has generated a profit of £2,603 during the year ended 31 December 2021 (2020: loss of £1,459). The company has sufficient retained earnings and a heathy bank balance as at the balance sheet date.Therefore, despite the impact of COVID-19 the directors continue to adopt the going concern basis. |