1 August 2022 false No description of principal activity Taxfiler 2024.1 SC287591business:PrivateLimitedCompanyLtd2022-08-012023-07-31 SC2875912022-07-31 SC2875912022-08-012023-07-31 SC287591business:AuditExemptWithAccountantsReport2022-08-012023-07-31 SC287591business:AbridgedAccounts2022-08-012023-07-31 SC2875912023-07-31 SC2875912022-07-31 SC287591core:WithinOneYear2023-07-31 SC287591core:WithinOneYear2022-07-31 SC287591core:AfterOneYear2023-07-31 SC287591core:AfterOneYear2022-07-31 SC287591core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 SC287591core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 SC287591core:RevaluationReservecore:PreviouslyStatedAmount2023-07-31 SC287591core:RevaluationReservecore:PreviouslyStatedAmount2022-07-31 SC287591core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 SC287591core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 SC287591core:PreviouslyStatedAmount2023-07-31 SC287591core:PreviouslyStatedAmount2022-07-31 SC287591business:SmallEntities2022-08-012023-07-31 SC287591business:Director12022-08-012023-07-31 SC287591countries:Scotland2022-08-012023-07-31 SC287591business:RegisteredOffice2022-08-012023-07-31 SC2875912021-08-012022-07-31 iso4217:GBP xbrli:pure
Industrial Access Systems Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
55,749 
72,061 
Tangible assets
199,367 
198,648 
255,116 
270,709 
Current assets
Inventories
115,550 
135,250 
Debtors
78,056 
81,719 
Cash at bank and in hand
48,601 
50,484 
242,207 
267,453 
Creditors: amounts falling due within one year
(377,111)
(319,037)
Net current liabilities
(134,904)
(51,584)
Total assets less current liabilities
120,212 
219,125 
Creditors: amounts falling due after more than one year
(231,163)
(364,682)
Net liabilities
(110,951)
(145,557)
Capital and reserves
Called up share capital
18 
18 
Revaluation reserve
95,000 
95,000 
Profit and loss account
(205,969)
(240,575)
Shareholders' funds
(110,951)
(145,557)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by
Shaun Donnelly Director Company Registration No. SC287591
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Industrial Access Systems Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Industrial Access Systems Limited is a private company, limited by shares, registered in Scotland, registration number SC287591. The registered office is Unit 15, Queenslie Point, Queenslie Industrial Estate, Glasgow, G33 3NQ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 August 2022
163,121 
At 31 July 2023
163,121 
Amortisation
At 1 August 2022
91,060 
Charge for the year
16,312 
At 31 July 2023
107,372 
Net book value
At 31 July 2023
55,749 
At 31 July 2022
72,061 
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Industrial Access Systems Limited Notes to the Accounts for the year ended 31 July 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2022
579,808 
Additions
67,174 
At 31 July 2023
646,982 
Depreciation
At 1 August 2022
381,160 
Charge for the year
66,455 
At 31 July 2023
447,615 
Net book value
At 31 July 2023
199,367 
At 31 July 2022
198,648 
6
Average number of employees
During the year the average number of employees was 9 (2022: 9).
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