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REGISTERED NUMBER: 07143763 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Intelisense It Limited

Intelisense It Limited (Registered number: 07143763)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Intelisense It Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr A Khan





REGISTERED OFFICE: Vulcan House
Pendeford Business Park
Wolverhampton
United Kingdom
WV9 5HA





REGISTERED NUMBER: 07143763 (England and Wales)





ACCOUNTANTS: Portfolio Accountants Ltd
9 Shottery Brook Office Park
Timothys Bridge Road
Stratford-Upon-Avon
CV37 9NR

Intelisense It Limited (Registered number: 07143763)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,914 21,883

CURRENT ASSETS
Debtors 5 368,250 185,696
Cash at bank and in hand 1,035,524 840,383
1,403,774 1,026,079
CREDITORS
Amounts falling due within one year 6 519,074 306,643
NET CURRENT ASSETS 884,700 719,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

918,614

741,319

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 918,514 741,219
SHAREHOLDERS' FUNDS 918,614 741,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Intelisense It Limited (Registered number: 07143763)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20 October 2023 and were signed by:





Mr A Khan - Director


Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Intelisense It Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


All monetary amounts are rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis.

Judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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.


Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022 66,898
Additions 18,470
At 28 February 2023 85,368
DEPRECIATION
At 1 March 2022 45,015
Charge for year 6,439
At 28 February 2023 51,454
NET BOOK VALUE
At 28 February 2023 33,914
At 28 February 2022 21,883

Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 133,163 113,300
Prepayments and accrued income 235,087 72,396
368,250 185,696

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 63,645 80,562
Amounts owed to group undertakings 35,059 1,085
Tax 53,673 29,340
Social security and other taxes 34,459 52,204
Pensions Payable (478 ) 9,705
Wages Payable 2,885 -
VAT 71,080 131,648
Other creditors 1,981 2,099
Accruals and deferred income 256,770 -
519,074 306,643

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
84 Ordinary A 1 84 84
8 Ordinary B 1 8 8
8 Ordinary C 1 8 8
100 100

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Intelisense Group Ltd a company incorporated in England and Wales. The registered office is the same as Intelisense IT Limited, the details of which can be found on the company information page.