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REGISTERED NUMBER: 09319506 (England and Wales)















Intake Cutting & Drilling Limited

Unaudited Financial Statements For The Year Ended 28 February 2023






Intake Cutting & Drilling Limited (Registered number: 09319506)






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


Intake Cutting & Drilling Limited

Company Information
For The Year Ended 28 February 2023







DIRECTORS: J D Burgin
R J Burgin





REGISTERED OFFICE: Sidings Court
Lakeside
Doncaster
DN4 5NU





REGISTERED NUMBER: 09319506 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

Intake Cutting & Drilling Limited (Registered number: 09319506)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,742 86,343

CURRENT ASSETS
Debtors 5 331,461 368,239
Cash at bank and in hand 3,011 12,770
334,472 381,009
CREDITORS
Amounts falling due within one year 6 274,105 320,750
NET CURRENT ASSETS 60,367 60,259
TOTAL ASSETS LESS CURRENT LIABILITIES 183,109 146,602

CREDITORS
Amounts falling due after more than one
year

7

(33,280

)

-

PROVISIONS FOR LIABILITIES (25,350 ) (11,460 )
NET ASSETS 124,479 135,142

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 124,477 135,140
SHAREHOLDERS' FUNDS 124,479 135,142

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 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.

Intake Cutting & Drilling Limited (Registered number: 09319506)

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 Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:




J D Burgin - Director



R J Burgin - Director


Intake Cutting & Drilling Limited (Registered number: 09319506)

Notes to the Financial Statements
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

Intake Cutting & Drilling 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Computer equipment - 25% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2022 - 7 ) .

Intake Cutting & Drilling Limited (Registered number: 09319506)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 230,190 4,000 975 235,165
Additions 68,900 - - 68,900
At 28 February 2023 299,090 4,000 975 304,065
DEPRECIATION
At 1 March 2022 147,039 808 975 148,822
Charge for year 31,901 600 - 32,501
At 28 February 2023 178,940 1,408 975 181,323
NET BOOK VALUE
At 28 February 2023 120,150 2,592 - 122,742
At 28 February 2022 83,151 3,192 - 86,343

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2022 25,000
Additions 68,900
At 28 February 2023 93,900
DEPRECIATION
At 1 March 2022 1,230
Charge for year 14,085
At 28 February 2023 15,315
NET BOOK VALUE
At 28 February 2023 78,585
At 28 February 2022 23,770

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 130,922 188,780
Other debtors 199,219 175,219
Corporation tax repayable - 2,000
Prepayments and accrued income 1,320 2,240
331,461 368,239

Intake Cutting & Drilling Limited (Registered number: 09319506)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,557 60,474
Hire purchase contracts 14,934 10,956
Trade creditors 162,385 160,799
Taxation - 10,503
Social security and other taxes 5,695 4,755
VAT 13,889 17,987
Other creditors 55,645 55,276
274,105 320,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 33,280 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase 48,214 10,956

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2