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REGISTERED NUMBER: 03719918 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Intuitive Engineering Solutions Ltd

Intuitive Engineering Solutions Ltd (Registered number: 03719918)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Intuitive Engineering Solutions Ltd

Company Information
for the year ended 31st December 2023







DIRECTOR: Mr A E Ancell





SECRETARY: Mrs H L Ancell





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 03719918 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Intuitive Engineering Solutions Ltd (Registered number: 03719918)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 343,385 223,638

CURRENT ASSETS
Debtors 5 721,750 1,284,623
Cash at bank and in hand 383,210 151,421
1,104,960 1,436,044
CREDITORS
Amounts falling due within one year 6 269,788 447,993
NET CURRENT ASSETS 835,172 988,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,178,557

1,211,689

PROVISIONS FOR LIABILITIES 49,912 29,908
NET ASSETS 1,128,645 1,181,781

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 1,126,645 1,179,781
SHAREHOLDERS' FUNDS 1,128,645 1,181,781

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

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

The director acknowledges his 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 Income Statement has not been delivered.

Intuitive Engineering Solutions Ltd (Registered number: 03719918)

Balance Sheet - continued
31st December 2023



The financial statements were approved by the director and authorised for issue on 2nd August 2024 and were signed by:





Mr A E Ancell - Director


Intuitive Engineering Solutions Ltd (Registered number: 03719918)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Intuitive Engineering Solutions Ltd 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% on cost

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.

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 23 (2022 - 19 ) .

Intuitive Engineering Solutions Ltd (Registered number: 03719918)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 78,294 531,373 609,667
Additions - 191,582 191,582
At 31st December 2023 78,294 722,955 801,249
DEPRECIATION
At 1st January 2023 22,992 363,037 386,029
Charge for year - 71,835 71,835
At 31st December 2023 22,992 434,872 457,864
NET BOOK VALUE
At 31st December 2023 55,302 288,083 343,385
At 31st December 2022 55,302 168,336 223,638

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 409,937 1,237,667
Other debtors 308,109 43,252
718,046 1,280,919

Amounts falling due after more than one year:
Other debtors 3,704 3,704

Aggregate amounts 721,750 1,284,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 131,908 95,416
Taxation and social security 100,024 329,144
Other creditors 37,856 23,433
269,788 447,993

Intuitive Engineering Solutions Ltd (Registered number: 03719918)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 36,168 36,168
Between one and five years 123,574 144,672
In more than five years - 15,070
159,742 195,910

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Mr & Mrs Ancell received a loan of £80,000 from the company. Interest has been accrued on the loan at 2.25%. At the balance sheet date, there was a debtor balance of £80,000 (2022 - NIL).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A E Ancell.