REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
1 Carnegie Road |
Newbury |
Berkshire |
RG14 5DJ |
BANKERS: |
6 Northbrook Street |
Newbury |
Berkshire |
RG14 1DJ |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
ABRIDGED BALANCE SHEET |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Capital redemption reserve | 7 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
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. |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
ABRIDGED BALANCE SHEET - continued |
31 March 2023 |
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 |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Integrated Open Network Systems Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04393394 and the registered office address is 1 Carnegie Road, Newbury, Berkshire, RG14 5DJ. |
The presentation currency of the financial statements is GB Pounds Sterling. |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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. |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Interest free loan |
Interest free loans are disclosed at present value. |
Present value is calculated by discounting the initial cost by the market rate prevalent during the period over the full term of the agreement. |
The reduction of cost is included within retained earnings as a distribution arising from interest free loans. |
Any interest in relation to the loan is calculated at market rate and recognised in the profit and loss account in the accounting period in which it falls due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | LEASING AGREEMENTS |
The total commitment under operating leases is £68,341 (2022: £1,320). |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
INTEGRATED OPEN NETWORK SYSTEMS LIMITED (REGISTERED NUMBER: 04393394) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
7. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2022 | 89,015 |
Deficit for the year | ( |
) | ( |
) |
At 31 March 2023 | 88,593 |
Included within reserves is a total of £781 (2022 - £962) which is not distributable. |
8. | PENSION COMMITMENTS |
The company runs a defined contributions pension scheme, the contributions to which are held in a separately administered fund. During the year the company made contributions of £4,147 (2022 - £2,227) to the fund. An amount of £933 (2022 - £875) was due to the fund at the year end. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |