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REGISTERED NUMBER: 11035299 (England and Wales)















INTELECT SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






INTELECT SERVICES LIMITED (REGISTERED NUMBER: 11035299)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


INTELECT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: T M Berridge
Mrs K M Berridge





REGISTERED OFFICE: 3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR





REGISTERED NUMBER: 11035299 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

INTELECT SERVICES LIMITED (REGISTERED NUMBER: 11035299)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 82,224 88,506

CURRENT ASSETS
Inventories 5,000 5,000
Debtors 5 302,911 300,531
Cash at bank 161,349 161,741
469,260 467,272
CREDITORS
Amounts falling due within one year 6 187,287 200,136
NET CURRENT ASSETS 281,973 267,136
TOTAL ASSETS LESS CURRENT LIABILITIES 364,197 355,642

CREDITORS
Amounts falling due after more than one year 7 (52,226 ) (61,819 )

PROVISIONS FOR LIABILITIES (20,556 ) (16,816 )
NET ASSETS 291,415 277,007

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 291,413 277,005
SHAREHOLDERS' FUNDS 291,415 277,007

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





T M Berridge - Director


INTELECT SERVICES LIMITED (REGISTERED NUMBER: 11035299)

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

1. STATUTORY INFORMATION

Intelect Services 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised upon provision of services.

Property, plant and equipment
Property, plant and equipment are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery 25% on cost
Computer equipment 33.33% straight line
Motor vehicles 25% reducing balance

Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 10 (2022 - 8 ) .

INTELECT SERVICES LIMITED (REGISTERED NUMBER: 11035299)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2022 124,419
Additions 26,374
At 31 October 2023 150,793
DEPRECIATION
At 1 November 2022 35,913
Charge for year 32,656
At 31 October 2023 68,569
NET BOOK VALUE
At 31 October 2023 82,224
At 31 October 2022 88,506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,199 190,695
Other debtors 5,823 2,503
Directors' current accounts 42,116 106,768
Prepayments 773 565
302,911 300,531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,818 9,382
Hire purchase contracts 21,811 18,324
Trade creditors 57,010 116,164
Taxation 52,463 43,954
Other taxes and social security 3,153 -
VAT 27,736 1,997
Other creditors 486 3,815
Accrued expenses 14,810 6,500
187,287 200,136

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,251 9,795
Bank loans - 2-5 years 3,603 14,393
Hire purchase contracts 38,372 37,631
52,226 61,819

INTELECT SERVICES LIMITED (REGISTERED NUMBER: 11035299)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
T M Berridge and Mrs K M Berridge
Balance outstanding at start of year 106,768 65,525
Amounts advanced 93,648 123,091
Amounts repaid (158,300 ) (81,848 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,116 106,768

No interest was charged on Mr T M Berridge and Mrs K M Berridge's overdrawn director's current account. This loan is not secured and is repayable on demand.