Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mr C G Thomson 01/12/2020 Mrs H Thomson 01/11/2000 Mr B L Thomson 05/07/2000 10 April 2024 The principle activity of the company is the manufacture of the peanut fitting for furniture assembly. 04027333 2023-09-30 04027333 bus:Director1 2023-09-30 04027333 bus:Director2 2023-09-30 04027333 bus:Director3 2023-09-30 04027333 2022-09-30 04027333 core:CurrentFinancialInstruments 2023-09-30 04027333 core:CurrentFinancialInstruments 2022-09-30 04027333 core:ShareCapital 2023-09-30 04027333 core:ShareCapital 2022-09-30 04027333 core:RetainedEarningsAccumulatedLosses 2023-09-30 04027333 core:RetainedEarningsAccumulatedLosses 2022-09-30 04027333 core:PatentsTrademarksLicencesConcessionsSimilar 2022-09-30 04027333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-09-30 04027333 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 04027333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-09-30 04027333 core:PlantMachinery 2022-09-30 04027333 core:FurnitureFittings 2022-09-30 04027333 core:PlantMachinery 2023-09-30 04027333 core:FurnitureFittings 2023-09-30 04027333 core:CostValuation 2022-09-30 04027333 core:CostValuation 2023-09-30 04027333 2022-10-01 2023-09-30 04027333 bus:FilletedAccounts 2022-10-01 2023-09-30 04027333 bus:SmallEntities 2022-10-01 2023-09-30 04027333 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04027333 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04027333 bus:Director1 2022-10-01 2023-09-30 04027333 bus:Director2 2022-10-01 2023-09-30 04027333 bus:Director3 2022-10-01 2023-09-30 04027333 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-10-01 2023-09-30 04027333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-10-01 2023-09-30 04027333 core:PlantMachinery core:TopRangeValue 2022-10-01 2023-09-30 04027333 core:FurnitureFittings core:TopRangeValue 2022-10-01 2023-09-30 04027333 2021-10-01 2022-09-30 04027333 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-01 2023-09-30 04027333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-10-01 2023-09-30 04027333 core:PlantMachinery 2022-10-01 2023-09-30 04027333 core:FurnitureFittings 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 04027333 (England and Wales)

INTELLIGENT FIXINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

INTELLIGENT FIXINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

INTELLIGENT FIXINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
INTELLIGENT FIXINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS Mr C G Thomson
Mrs H Thomson
Mr B L Thomson
SECRETARY Mrs H Thomson
REGISTERED OFFICE 78-79 Long Lane
London
EC1A 9ET
England
United Kingdom
COMPANY NUMBER 04027333 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
INTELLIGENT FIXINGS LIMITED

BALANCE SHEET

As at 30 September 2023
INTELLIGENT FIXINGS LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 23,312 34,598
Tangible assets 4 165,468 189,554
Investments 5 1 1
188,781 224,153
Current assets
Stocks 72,380 33,438
Debtors 6 45,890 428,705
Cash at bank and in hand 26,108 30,180
144,378 492,323
Creditors: amounts falling due within one year 7 ( 303,722) ( 618,028)
Net current liabilities (159,344) (125,705)
Total assets less current liabilities 29,437 98,448
Provision for liabilities ( 32,108) ( 35,629)
Net (liabilities)/assets ( 2,671) 62,819
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 2,673 ) 62,817
Total shareholders' (deficit)/funds ( 2,671) 62,819

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Intelligent Fixings Limited (registered number: 04027333) were approved and authorised for issue by the Board of Directors on 10 April 2024. They were signed on its behalf by:

Mrs H Thomson
Director
INTELLIGENT FIXINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
INTELLIGENT FIXINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Intelligent Fixings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 78-79 Long Lane, London, EC1A 9ET, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover represents the value of goods sold during the year, net of Value Added Tax and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 5 years straight line
Website costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Fixtures and fittings 4 years straight line
Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances; and
• Investments in unlisted entities.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Details for the accounting policy for investments are given above.

Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Trademarks, patents
and licences
Website costs Total
£ £ £
Cost
At 01 October 2022 7,286 43,896 51,182
Additions 6,005 0 6,005
At 30 September 2023 13,291 43,896 57,187
Accumulated amortisation
At 01 October 2022 1,952 14,632 16,584
Charge for the financial year 2,659 14,632 17,291
At 30 September 2023 4,611 29,264 33,875
Net book value
At 30 September 2023 8,680 14,632 23,312
At 30 September 2022 5,334 29,264 34,598

The aggregate amount of research and development expenditure recognised as an expense during the period is £0 (2022 - £243,123).

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 October 2022 517,107 50,239 567,346
Additions 28,552 2,416 30,968
At 30 September 2023 545,659 52,655 598,314
Accumulated depreciation
At 01 October 2022 338,601 39,191 377,792
Charge for the financial year 51,771 3,283 55,054
At 30 September 2023 390,372 42,474 432,846
Net book value
At 30 September 2023 155,287 10,181 165,468
At 30 September 2022 178,506 11,048 189,554

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 October 2022 1
At 30 September 2023 1
Carrying value at 30 September 2023 1
Carrying value at 30 September 2022 1

6. Debtors

2023 2022
£ £
Trade debtors 40,838 18,654
Other debtors 5,052 410,051
45,890 428,705

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 24,026 11,082
Amounts owed to Group undertakings 225,186 596,671
Other creditors 54,510 10,275
303,722 618,028

8. Related party transactions - Transactions with directors

Mr & Mrs Thomson

2023 2022
£ £
Brought forward 405,801 0
Advances to directors 1,874 405,801
Repayments by directors (407,675) 0
0 405,801