4 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 5,807 4,386 10,193 2,362 2,538 4,900 5,293 3,445 xbrli:pure xbrli:shares iso4217:GBP 09326230 2020-12-01 2021-11-30 09326230 2021-11-30 09326230 2020-11-30 09326230 2019-12-01 2020-11-30 09326230 2020-11-30 09326230 bus:OrdinaryShareClass1 2020-12-01 2021-11-30 09326230 bus:Director1 2020-12-01 2021-11-30 09326230 core:WithinOneYear 2021-11-30 09326230 core:WithinOneYear 2020-11-30 09326230 core:AfterOneYear 2021-11-30 09326230 core:AfterOneYear 2020-11-30 09326230 core:ShareCapital 2021-11-30 09326230 core:ShareCapital 2020-11-30 09326230 core:RetainedEarningsAccumulatedLosses 2021-11-30 09326230 core:RetainedEarningsAccumulatedLosses 2020-11-30 09326230 bus:SmallEntities 2020-12-01 2021-11-30 09326230 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 09326230 bus:FullAccounts 2020-12-01 2021-11-30 09326230 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 09326230 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 09326230 bus:OrdinaryShareClass1 2021-11-30 09326230 bus:OrdinaryShareClass1 2020-11-30 09326230 core:FurnitureFittingsToolsEquipment 2020-12-01 2021-11-30 09326230 core:FurnitureFittingsToolsEquipment 2020-11-30 09326230 core:FurnitureFittingsToolsEquipment 2021-11-30
COMPANY REGISTRATION NUMBER: 09326230
INTEGRAL IT (UK) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2021
INTEGRAL IT (UK) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 5
INTEGRAL IT (UK) LIMITED
BALANCE SHEET
30 November 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
5
5,293
3,445
Current assets
Debtors
6
64,890
55,743
Cash at bank and in hand
13,365
33,706
------------
------------
78,255
89,449
Creditors: amounts falling due within one year
7
( 43,125)
( 23,953)
------------
------------
Net current assets
35,130
65,496
------------
------------
Total assets less current liabilities
40,423
68,941
Creditors: amounts falling due after more than one year
8
( 41,149)
( 50,000)
------------
------------
Net (liabilities)/assets
( 726)
18,941
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 826)
18,841
------------
------------
Shareholders (deficit)/funds
( 726)
18,941
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 September 2022 , and are signed on behalf of the board by:
Mr J Beasley
Director
Company registration number: 09326230
INTEGRAL IT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2020: 3 ).
5. Tangible assets
Equipment
£
Cost
At 1 December 2020
5,807
Additions
4,386
------------
At 30 November 2021
10,193
------------
Depreciation
At 1 December 2020
2,362
Charge for the year
2,538
------------
At 30 November 2021
4,900
------------
Carrying amount
At 30 November 2021
5,293
------------
At 30 November 2020
3,445
------------
6. Debtors
2021
2020
£
£
Trade debtors
46,350
23,700
Corporation tax repayable
18,540
13,184
Directors loan account
18,859
------------
------------
64,890
55,743
------------
------------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
8,851
Trade creditors
737
1,309
Accruals and deferred income
1,250
1,250
Social security and other taxes
31,489
20,373
Directors loan account
138
Other creditors
660
1,021
------------
------------
43,125
23,953
------------
------------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
41,149
50,000
------------
------------
9. Called up share capital
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Related party transactions
The directors' loan of £138 (2020: £18,859 debtor) set out in debtors above is unsecured, repayable on demand and currently interest-free. The company is controlled by the director.
11. Going concern
The director is providing adequate working capital to enable the company to continue trading. Accordingly, the accounts have been prepared on a going concern basis.