IRIS Accounts Production v24.2.0.383 05054671 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050546712022-12-31050546712023-12-31050546712023-01-012023-12-31050546712021-12-31050546712022-01-012022-12-31050546712022-12-3105054671ns15:EnglandWales2023-01-012023-12-3105054671ns14:PoundSterling2023-01-012023-12-3105054671ns10:Director12023-01-012023-12-3105054671ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105054671ns10:SmallEntities2023-01-012023-12-3105054671ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105054671ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105054671ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105054671ns10:FullAccounts2023-01-012023-12-3105054671ns10:Director22023-01-012023-12-3105054671ns10:Director32023-01-012023-12-3105054671ns10:CompanySecretary12023-01-012023-12-3105054671ns10:RegisteredOffice2023-01-012023-12-3105054671ns5:CurrentFinancialInstruments2023-12-3105054671ns5:CurrentFinancialInstruments2022-12-3105054671ns5:ShareCapital2023-12-3105054671ns5:ShareCapital2022-12-3105054671ns5:CapitalRedemptionReserve2023-12-3105054671ns5:CapitalRedemptionReserve2022-12-3105054671ns5:RetainedEarningsAccumulatedLosses2023-12-3105054671ns5:RetainedEarningsAccumulatedLosses2022-12-3105054671ns5:PlantMachinery2023-01-012023-12-3105054671ns5:FurnitureFittings2023-01-012023-12-3105054671ns5:PlantMachinery2022-12-3105054671ns5:FurnitureFittings2022-12-3105054671ns5:PlantMachinery2023-12-3105054671ns5:FurnitureFittings2023-12-3105054671ns5:PlantMachinery2022-12-3105054671ns5:FurnitureFittings2022-12-3105054671ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105054671ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105054671ns5:WithinOneYear2023-12-3105054671ns5:WithinOneYear2022-12-3105054671ns5:BetweenOneFiveYears2023-12-3105054671ns5:BetweenOneFiveYears2022-12-3105054671ns5:AllPeriods2023-12-3105054671ns5:AllPeriods2022-12-31
REGISTERED NUMBER: 05054671 (England and Wales)












IN-TECH MOBILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IN-TECH MOBILES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R P Lewington
M J Chant
P Hill



SECRETARY: Mrs S Lewington



REGISTERED OFFICE: 1 Victory Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4BU



REGISTERED NUMBER: 05054671 (England and Wales)



BANKERS: National Westminster Bank plc
Southampton Customer Service Centre
Brunswick Gate
23 Brunswick Place
Southampton
Hampshire
SO15 2AQ

IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 2,498 1,992

CURRENT ASSETS
Debtors 5 506,677 453,305
Cash at bank and in hand 184,496 166,387
691,173 619,692
CREDITORS
Amounts falling due within one year 6 (218,040 ) (169,235 )
NET CURRENT ASSETS 473,133 450,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

475,631

452,449

PROVISIONS FOR LIABILITIES (625 ) (498 )
NET ASSETS 475,006 451,951

CAPITAL AND RESERVES
Called up share capital 671 671
Capital redemption reserve 350 350
Retained earnings 473,985 450,930
SHAREHOLDERS' FUNDS 475,006 451,951

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

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

IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

BALANCE SHEET - continued
31 DECEMBER 2023


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 15 August 2024 and were signed on its behalf by:





M J Chant - Director


IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

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


1. STATUTORY INFORMATION

In-Tech Mobiles 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided under contracts, net of applicable taxes, to the extent that there is a right to consideration.

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.
Office Equipment - 25% and 33% Straight line
Fixtures and fittings - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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 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.

IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

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


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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
Equipment fittings Totals
£ £ £
COST
At 1 January 2023 10,429 333 10,762
Additions 3,132 - 3,132
At 31 December 2023 13,561 333 13,894
DEPRECIATION
At 1 January 2023 8,548 222 8,770
Charge for year 2,515 111 2,626
At 31 December 2023 11,063 333 11,396
NET BOOK VALUE
At 31 December 2023 2,498 - 2,498
At 31 December 2022 1,881 111 1,992

IN-TECH MOBILES LIMITED (REGISTERED NUMBER: 05054671)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 4,927 14,974
Other debtors 501,750 438,331
506,677 453,305

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 51,314 50,586
Taxation and social security 96,547 75,449
Other creditors 70,179 43,200
218,040 169,235

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 3,736 6,958
Between one and five years 4,333 -
8,069 6,958

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £62,526 (2022: £120,044) were made to the company’s directors. £63,175 (2022: £60,681) was repaid during the year. The balance outstanding at the year-end was £147,063 (2022: £147,713).

No interest was charged on the loans to directors during the year and the loans are repayable upon demand.