Registered number
05697958
Intesol Worldwide Limited
Unaudited Filleted Accounts
31 March 2023
Intesol Worldwide Limited
Registered number: 05697958
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 30,000 40,000
Tangible assets 4 5,355 6,693
35,355 46,693
Current assets
Cash at bank and in hand 10,807 6,619
Creditors: amounts falling due within one year 5 (18,835) (23,926)
Net current liabilities (8,028) (17,307)
Net assets 27,327 29,386
Capital and reserves
Called up share capital 14 14
Profit and loss account 27,313 29,372
Shareholders' funds 27,327 29,386
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Hazelwood
Director
Approved by the board on 25 October 2023
Intesol Worldwide Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Buildings over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 100,000
At 31 March 2023 100,000
Amortisation
At 1 April 2022 60,000
Provided during the year 10,000
At 31 March 2023 70,000
Net book value
At 31 March 2023 30,000
At 31 March 2022 40,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 14,577 9,549 24,126
At 31 March 2023 14,577 9,549 24,126
Depreciation
At 1 April 2022 9,800 7,633 17,433
Charge for the year 955 383 1,338
At 31 March 2023 10,755 8,016 18,771
Net book value
At 31 March 2023 3,822 1,533 5,355
At 31 March 2022 4,777 1,916 6,693
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 4,521 4,243
Other taxes and social security costs 945 646
Other creditors 13,369 19,037
18,835 23,926
6 Other information
Intesol Worldwide Limited is a private company limited by shares and incorporated in England. Its registered office is:
27 Chestnut Close
Middlewich
Cheshire
CW10 9QJ
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