INTEGRITY SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023
Company Registration Number: 03659875
INTEGRITY SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 7
INTEGRITY SOLUTIONS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023
DIRECTORS
Mr C J Reid
Mr P J James-Martin
SECRETARY
Mr P J James-Martin
REGISTERED OFFICE
Cranbrook House
287/291 Banbury Road
Oxford
OX2 7JQ
COMPANY REGISTRATION NUMBER
03659875 England and Wales
INTEGRITY SOLUTIONS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2023
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 5 - 500
CURRENT ASSETS
Debtors 6 33,738 2,661,568
Cash at bank and in hand 42,145 212,833
75,883 2,874,401
CREDITORS: Amounts falling due within one year 7 49,674 164,336
NET CURRENT ASSETS 26,209 2,710,065
TOTAL ASSETS LESS CURRENT LIABILITIES 26,209 2,710,565
Provisions for liabilities and charges - 95
NET ASSETS 26,209 2,710,470
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 26,108 2,710,369
Capital redemption reserve 1 1
SHAREHOLDER'S FUNDS 26,209 2,710,470
INTEGRITY SOLUTIONS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Mr P J James-Martin
Director
Date approved by the board: 26 September 2023
INTEGRITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 GENERAL INFORMATION
Integrity Solutions Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
Cranbrook House 75 Esher Road
287/291 Banbury Road East Molesey
Oxford Surrey
OX2 7JQ KY8 0AQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Computer equipment Straight line basis at 15% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
INTEGRITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
INTEGRITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 2 2
INTEGRITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
5 TANGIBLE ASSETS
Computer equipment Total
£ £
Cost
At 1 September 2022 563 563
Disposals (563) (563)
At 31 August 2023 - -
Accumulated depreciation and impairments
At 1 September 2022 63 63
Disposals (63) (63)
At 31 August 2023 - -
Net book value
At 1 September 2022 500 500
At 31 August 2023 - -
6 DEBTORS
2023 2022
£ £
Trade debtors 30,682 188,773
Amounts owed from group undertakings - 2,431,843
Prepayments and accrued income - 15,750
Other debtors 3,056 25,202
33,738 2,661,568
7 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Trade creditors 46,922 103,665
Taxation and social security - 46,846
Accruals and deferred income 2,752 3,502
Other creditors - 10,323
49,674 164,336
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