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REGISTERED NUMBER: 06641941 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

INTUITIVE SYSTEMS AND NETWORKS LIMITED

INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INTUITIVE SYSTEMS AND NETWORKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr S B Rance
Mr J M Broadway
Mr R Titheradge





REGISTERED OFFICE: Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT





REGISTERED NUMBER: 06641941 (England and Wales)





ACCOUNTANTS: Newton Magnus
Chartered Certified Accountants
Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT

INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)

ABRIDGED BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 3 34,013 45,351
Tangible assets 4 58,496 62,975
92,509 108,326

CURRENT ASSETS
Debtors 2,388,090 1,260,458
Cash at bank 827,867 864,281
3,215,957 2,124,739
CREDITORS
Amounts falling due within one year (2,780,390 ) (1,861,308 )
NET CURRENT ASSETS 435,567 263,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,076

371,757

CREDITORS
Amounts falling due after more than
one year

(112,000

)

(172,000

)

PROVISIONS FOR LIABILITIES (12,094 ) (11,756 )
NET ASSETS 403,982 188,001

INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)

ABRIDGED BALANCE SHEET - continued
31 JULY 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 833 833
Share premium 49,917 49,917
Retained earnings 353,232 137,251
SHAREHOLDERS' FUNDS 403,982 188,001

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 March 2024 and were signed on its behalf by:





Mr R Titheradge - Director


INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)

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

1. 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 the value of goods and services supplied during the year, excluding value added tax.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)

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

1. ACCOUNTING POLICIES - continued

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.

Goodwill
Goodwill , being the amount paid in connection with the acquisition of a business in 2011, is now being amortised over its estimated useful life of nine years from 1st August 2017. This replaces the original policy of twenty years from date of purchase.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2022 - 49 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 154,030
AMORTISATION
At 1 August 2022 108,679
Amortisation for year 11,338
At 31 July 2023 120,017
NET BOOK VALUE

At 31 July 2023 34,013
At 31 July 2022 45,351

INTUITIVE SYSTEMS AND NETWORKS LIMITED (REGISTERED NUMBER: 06641941)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 145,586
Additions 13,041
At 31 July 2023 158,627
DEPRECIATION
At 1 August 2022 82,611
Charge for year 17,520
At 31 July 2023 100,131
NET BOOK VALUE
At 31 July 2023 58,496
At 31 July 2022 62,975