IRIS Accounts Production v23.3.0.418 04784751 Board of Directors 1.9.22 31.8.23 31.8.23 12/12/2023 false true true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047847512022-08-31047847512023-08-31047847512022-09-012023-08-31047847512021-08-31047847512021-09-012022-08-31047847512022-08-3104784751ns10:Originalns15:EnglandWales2022-09-012023-08-3104784751ns14:PoundSterlingns10:Original2022-09-012023-08-3104784751ns10:Originalns10:Director12022-09-012023-08-3104784751ns10:Original2022-09-012023-08-3104784751ns10:Originalns10:Director22022-09-012023-08-3104784751ns10:Original2023-08-3104784751ns10:Originalns10:PrivateLimitedCompanyLtd2022-09-012023-08-3104784751ns10:Originalns10:SmallEntities2022-09-012023-08-3104784751ns10:Originalns10:Audited2022-09-012023-08-3104784751ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3104784751ns10:SmallCompaniesRegimeForAccountsns10:Original2022-09-012023-08-3104784751ns10:Originalns10:FullAccounts2022-09-012023-08-3104784751ns10:Original12022-09-012023-08-3104784751ns10:Originalns10:OrdinaryShareClass12022-09-012023-08-3104784751ns10:Originalns10:Director32022-09-012023-08-3104784751ns10:Originalns10:Director42022-09-012023-08-3104784751ns10:Originalns10:Director52022-09-012023-08-3104784751ns10:Originalns10:Director62022-09-012023-08-3104784751ns10:Originalns10:Director72022-09-012023-08-3104784751ns10:Director8ns10:Original2022-09-012023-08-3104784751ns10:CompanySecretary1ns10:Original2022-09-012023-08-3104784751ns10:Originalns10:RegisteredOffice2022-09-012023-08-3104784751ns10:Original2022-08-3104784751ns10:Originalns5:CurrentFinancialInstruments2023-08-3104784751ns10:Originalns5:CurrentFinancialInstruments2022-08-3104784751ns10:Originalns5:Non-currentFinancialInstruments2023-08-3104784751ns10:Originalns5:Non-currentFinancialInstruments2022-08-3104784751ns5:ShareCapitalns10:Original2023-08-3104784751ns5:ShareCapitalns10:Original2022-08-3104784751ns10:Originalns5:SharePremium2023-08-3104784751ns10:Originalns5:SharePremium2022-08-3104784751ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3104784751ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-3104784751ns10:Originalns5:NetGoodwill2022-09-012023-08-3104784751ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-09-012023-08-3104784751ns10:Originalns5:LeaseholdImprovements2022-09-012023-08-3104784751ns10:Originalns5:FurnitureFittings2022-09-012023-08-3104784751ns10:Originalns5:ComputerEquipment2022-09-012023-08-3104784751ns10:Original2021-09-012022-08-3104784751ns10:Originalns5:NetGoodwill2022-08-3104784751ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-08-3104784751ns10:Original2022-08-3104784751ns10:Originalns5:NetGoodwill2023-08-3104784751ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-08-3104784751ns10:Originalns5:NetGoodwill2022-08-3104784751ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-08-3104784751ns10:Originalns5:LeaseholdImprovements2022-08-3104784751ns10:Originalns5:FurnitureFittings2022-08-3104784751ns10:Originalns5:ComputerEquipment2022-08-3104784751ns10:Originalns5:LeaseholdImprovements2023-08-3104784751ns10:Originalns5:FurnitureFittings2023-08-3104784751ns10:Originalns5:ComputerEquipment2023-08-3104784751ns10:Originalns5:LeaseholdImprovements2022-08-3104784751ns10:Originalns5:FurnitureFittings2022-08-3104784751ns10:Originalns5:ComputerEquipment2022-08-3104784751ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3104784751ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3104784751ns5:Securedns10:Original2023-08-3104784751ns5:Securedns10:Original2022-08-3104784751ns10:Originalns10:OrdinaryShareClass12023-08-31
REGISTERED NUMBER: 04784751 (England and Wales)












REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ITAL GROUP LIMITED

ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)






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




Page

Company Information 1

Report of the Directors 2

Balance Sheet 4

Notes to the Financial Statements 5


ITAL GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: J C Mason
D J Bilsby
G D Collins
D Cross
R J Floyd
W G Hay
Mrs A Murphy
R Leather


SECRETARY: Ms E S Hollingworth


REGISTERED OFFICE: Unit 44-47 Ground Floor, Building 1000
Lakeside North Harbour
Western Road
Portsmouth
Hampshire
PO6 3EZ


REGISTERED NUMBER: 04784751 (England and Wales)


AUDITORS: RE Group Accountants Limited
Chartered Certified Accountants
Statutory Auditors
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ


SOLICITORS: Hollingworth Bissell
Albert Buildings
49 Queen Victoria Street
London
EC4N 4SA

ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2023

The directors present their report with the financial statements of the company for the year ended 31 August 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2022 to the date of this report.

J C Mason
D J Bilsby
G D Collins
D Cross
R J Floyd
W G Hay
Mrs A Murphy

Other changes in directors holding office are as follows:

R Leather - appointed 29 November 2022

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, RE Group Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J C Mason - Director


12 December 2023

ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,252,030 947,999
1,252,030 947,999

CURRENT ASSETS
Stocks 3,504 -
Debtors 6 456,348 298,247
Cash at bank 409,077 776,831
868,929 1,075,078
CREDITORS
Amounts falling due within one year 7 1,012,411 810,783
NET CURRENT (LIABILITIES)/ASSETS (143,482 ) 264,295
TOTAL ASSETS LESS CURRENT LIABILITIES 1,108,548 1,212,294

CREDITORS
Amounts falling due after more than one
year

8

-

(14,583

)

PROVISIONS FOR LIABILITIES (8,675 ) (47,946 )
NET ASSETS 1,099,873 1,149,765

CAPITAL AND RESERVES
Called up share capital 10 29,000 29,000
Share premium 141,000 141,000
Retained earnings 929,873 979,765
SHAREHOLDERS' FUNDS 1,099,873 1,149,765

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 12 December 2023 and were signed on its behalf by:





D J Bilsby - Director


ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

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

1. STATUTORY INFORMATION

ITAL Group 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 financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised evenly over its estimated useful life of ten years.

Licenses and patents
This cost represents the amount paid in connection to the development of a bespoke operating system for the company's software and applications. The development was completed in September 2014 and has been amortised over its anticipated useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - Straight line over the life of the lease
Furniture and fittings - 25% on cost
Computer equipment - 10% - 33.3% straight line

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses or fair value. Cost includes costs directly attributable to making the asset capable of operating as intended. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

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

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 40 (2022 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 52,615 145,106 197,721
AMORTISATION
At 1 September 2022
and 31 August 2023 52,615 145,106 197,721
NET BOOK VALUE
At 31 August 2023 - - -
At 31 August 2022 - - -

ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

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

5. TANGIBLE FIXED ASSETS
Improvements
to Furniture
leasehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 131,971 80,601 2,406,400 2,618,972
Additions - - 494,972 494,972
At 31 August 2023 131,971 80,601 2,901,372 3,113,944
DEPRECIATION
At 1 September 2022 131,971 80,601 1,458,401 1,670,973
Charge for year - - 190,941 190,941
At 31 August 2023 131,971 80,601 1,649,342 1,861,914
NET BOOK VALUE
At 31 August 2023 - - 1,252,030 1,252,030
At 31 August 2022 - - 947,999 947,999

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 299,165 151,826
Other debtors 157,183 146,421
456,348 298,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,583 87,500
Trade creditors 582,527 317,112
Taxation and social security 94,018 81,919
Other creditors 321,283 324,252
1,012,411 810,783

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 14,583

ITAL GROUP LIMITED (REGISTERED NUMBER: 04784751)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 14,583 102,083

The bank loan is secured via fixed and floating charges over the undertaking and all property and assets present.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
29,000 Ordinary £1 29,000 29,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Robert Graham Green FCCA (Senior Statutory Auditor)
for and on behalf of RE Group Accountants Limited