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REGISTERED NUMBER: 05517156 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

I 2 I ENGINEERING LIMITED

I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I 2 I ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr. C B Firth



REGISTERED OFFICE: 71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



REGISTERED NUMBER: 05517156 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: HSBC Bank plc
110 Grey Street
Newcastle upon Tyne
NE1 6JG

I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,320 3,024
3,320 3,024

CURRENT ASSETS
Debtors 6 60,820 53,949
Cash at bank 4,186 165
65,006 54,114
CREDITORS
Amounts falling due within one year 7 13,350 21,426
NET CURRENT ASSETS 51,656 32,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,976

35,712

CAPITAL AND RESERVES
Called up share capital 101,000 101,000
Retained earnings (46,024 ) (65,288 )
SHAREHOLDERS' FUNDS 54,976 35,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)

BALANCE SHEET - continued
31 MARCH 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 15 November 2023 and were signed by:





Mr. C B Firth - Director


I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

I 2 I Engineering 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 (£).


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 represents net invoiced sales of services, excluding value added tax. Turnover is recognised on periodic submission of invoices during the course of contracts.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets
Intangible fixed assets, including purchased goodwill and patents, are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.


I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 131,091
AMORTISATION
At 1 April 2022
and 31 March 2023 131,091
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

I 2 I ENGINEERING LIMITED (REGISTERED NUMBER: 05517156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 33,643
Additions 2,257
At 31 March 2023 35,900
DEPRECIATION
At 1 April 2022 30,619
Charge for year 1,961
At 31 March 2023 32,580
NET BOOK VALUE
At 31 March 2023 3,320
At 31 March 2022 3,024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,580 5,908
Other debtors 50,240 48,041
60,820 53,949

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 10,494 6,265
Other creditors 2,856 15,161
13,350 21,426

8. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £50,000 due from Firth Ground Systems Limited. Mr C.B Firth, the sole shareholder and director of I2I Engineering Limited, is the 95% shareholder and director of Firth Ground Systems Limited.