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REGISTERED NUMBER: 02841387 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Inter-Lec Limited

Inter-Lec Limited (Registered number: 02841387)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inter-Lec Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R A Fall



REGISTERED OFFICE: Holland Hill
Low Road
North Wheatley
Retford
Nottinghamshire
DN22 9DS



REGISTERED NUMBER: 02841387 (England and Wales)



BANKERS: Lloyds Bank
106 High Street
Scunthorpe
North Lincolnshire
DN15 6HG



SOLICITORS: Beetenson & Gibbon
25a Northgate
Louth
Lincolnshire
LN11 0LT

Inter-Lec Limited (Registered number: 02841387)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,619 78,471

CURRENT ASSETS
Stocks 23,980 20,236
Debtors 5 94,771 103,362
Cash at bank and in hand 370,395 408,407
489,146 532,005
CREDITORS
Amounts falling due within one year 6 79,897 193,003
NET CURRENT ASSETS 409,249 339,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,868

417,473

PROVISIONS FOR LIABILITIES 11,712 11,807
NET ASSETS 467,156 405,666

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Capital redemption reserve 5,000 5,000
Retained earnings 457,156 395,666
SHAREHOLDERS' FUNDS 467,156 405,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Inter-Lec Limited (Registered number: 02841387)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 31 July 2024 and were signed by:





R A Fall - Director


Inter-Lec Limited (Registered number: 02841387)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Inter-Lec 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 (£).


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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 15% on cost and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Inter-Lec Limited (Registered number: 02841387)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 10,773 28,873 123,961 163,607
Additions - 284 21,995 22,279
Disposals - (197 ) - (197 )
At 31 March 2024 10,773 28,960 145,956 185,689
DEPRECIATION
At 1 April 2023 10,340 16,136 58,660 85,136
Charge for year 433 5,204 25,473 31,110
Eliminated on disposal - (176 ) - (176 )
At 31 March 2024 10,773 21,164 84,133 116,070
NET BOOK VALUE
At 31 March 2024 - 7,796 61,823 69,619
At 31 March 2023 433 12,737 65,301 78,471

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 70,276 92,643
Other debtors 24,495 10,719
94,771 103,362

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 50,944 185,834
Taxation and social security 24,657 3,214
Other creditors 4,296 3,955
79,897 193,003

7. RELATED PARTY DISCLOSURES

The business premises are owned by a SIPP of which Mr R Fall is the sole member. Rent payable to the SIPP in the year amounted to £17,500 (2023 - £17,500) and has been charged to the Income Statement.

Inter-Lec Limited (Registered number: 02841387)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr R A Fall, who owns 100% of the issued share capital.