Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31truetrue10design and implementation of smart building technology2023-02-01false13The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07119691 2023-02-01 2024-01-31 07119691 2022-02-01 2023-01-31 07119691 2024-01-31 07119691 2023-01-31 07119691 c:Director1 2023-02-01 2024-01-31 07119691 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 07119691 d:Buildings d:LongLeaseholdAssets 2024-01-31 07119691 d:Buildings d:LongLeaseholdAssets 2023-01-31 07119691 d:PlantMachinery 2023-02-01 2024-01-31 07119691 d:PlantMachinery 2024-01-31 07119691 d:PlantMachinery 2023-01-31 07119691 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07119691 d:FurnitureFittings 2023-02-01 2024-01-31 07119691 d:FurnitureFittings 2024-01-31 07119691 d:FurnitureFittings 2023-01-31 07119691 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07119691 d:OfficeEquipment 2024-01-31 07119691 d:OfficeEquipment 2023-01-31 07119691 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07119691 d:ComputerEquipment 2023-02-01 2024-01-31 07119691 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07119691 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 07119691 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 07119691 d:Goodwill 2023-02-01 2024-01-31 07119691 d:CurrentFinancialInstruments 2024-01-31 07119691 d:CurrentFinancialInstruments 2023-01-31 07119691 d:Non-currentFinancialInstruments 2024-01-31 07119691 d:Non-currentFinancialInstruments 2023-01-31 07119691 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07119691 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07119691 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07119691 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07119691 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 07119691 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 07119691 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 07119691 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 07119691 d:ShareCapital 2024-01-31 07119691 d:ShareCapital 2023-01-31 07119691 d:RetainedEarningsAccumulatedLosses 2024-01-31 07119691 d:RetainedEarningsAccumulatedLosses 2023-01-31 07119691 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 07119691 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 07119691 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2024-01-31 07119691 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-01-31 07119691 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07119691 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07119691 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 07119691 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 07119691 c:FRS102 2023-02-01 2024-01-31 07119691 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07119691 c:FullAccounts 2023-02-01 2024-01-31 07119691 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07119691 2 2023-02-01 2024-01-31 07119691 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number:  07119691














INTECHO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


 
INTECHO LIMITED
REGISTERED NUMBER: 07119691

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,248
14,698

Tangible assets
 5 
18,407
24,402

  
27,655
39,100

Current assets
  

Stocks
 6 
254,062
282,003

Debtors: amounts falling due within one year
 7 
109,523
193,789

Cash at bank and in hand
 8 
40,164
34,257

  
403,749
510,049

Creditors: amounts falling due within one year
 9 
(356,391)
(436,049)

Net current assets
  
 
 
47,358
 
 
74,000

Total assets less current liabilities
  
75,013
113,100

Creditors: amounts falling due after more than one year
 10 
(42,667)
(74,665)

Provisions for liabilities
  

Deferred tax
 13 
(3,364)
(3,424)

  
 
 
(3,364)
 
 
(3,424)

Net assets
  
28,982
35,011


Capital and reserves
  

Called up share capital 
  
280
280

Profit and loss account
  
28,702
34,731

  
28,982
35,011


Page 1

 
INTECHO LIMITED
REGISTERED NUMBER: 07119691
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B Patterson
Director

Date: 28 August 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Intecho Limited is a private company limited by shares and is incorporated under the Companies Act 2006 and registered in England and Wales (no.07119691). The address of the registered office is Intecho House Knutsford Bowling Club, Mereheath Lane, Knutsford, Cheshire, England, WA16 6SL.
These financial statements present information about the Company as an individual undertaking; it is not a member of a group of companies. The principal activity of the Company is that of design and implementation of smart building technology.
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website development costs
-
3
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Straight line
Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
33%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

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

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 13).


4.


Intangible assets




Website develop-ment costs

£



Cost


At 1 February 2023
16,515



At 31 January 2024

16,515



Amortisation


At 1 February 2023
1,817


Charge for the year on owned assets
5,450



At 31 January 2024

7,267



Net book value



At 31 January 2024
9,248



At 31 January 2023
14,698



Page 8

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
9,452
41,251
16,511
35,845
103,059



At 31 January 2024

9,452
41,251
16,511
35,845
103,059



Depreciation


At 1 February 2023
3,781
31,904
15,237
27,735
78,657


Charge for the year on owned assets
946
2,337
318
2,394
5,995



At 31 January 2024

4,727
34,241
15,555
30,129
84,652



Net book value



At 31 January 2024
4,725
7,010
956
5,716
18,407



At 31 January 2023
5,671
9,347
1,274
8,110
24,402


6.


Stocks

2024
2023
£
£

Stock
22,241
62,241

Work in progress
231,821
219,762

254,062
282,003


Page 9

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
92,776
175,971

Other debtors
12,580
12,580

Prepayments and accrued income
4,167
5,238

109,523
193,789



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
40,164
34,257

40,164
34,257



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,000
46,424

Other loans
130,000
115,000

Trade creditors
85,022
98,473

Corporation tax
20,472
22,999

Other taxation and social security
43,335
77,354

Other creditors
7,992
10,647

Accruals and deferred income
37,570
65,152

356,391
436,049



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
42,667
74,665

42,667
74,665


Page 10

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
32,000
46,424

Other loans
130,000
115,000


162,000
161,424

Amounts falling due 1-2 years

Bank loans
32,000
32,000


32,000
32,000

Amounts falling due 2-5 years

Bank loans
10,667
42,667


10,667
42,667


204,667
236,091


Page 11

 
INTECHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
40,164
34,257

Financial assets measured at amortised cost
105,357
188,551

145,521
222,808


Financial liabilities


Financial liabilities measured at amortised cost
299,951
352,433


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of trade debtors and other debtors.


Financial liabilities measured at amortised cost comprise of trade creditors, other creditors, bank loans, other loans and accruals.


13.


Deferred taxation




2024


£






At beginning of year
(3,424)


Charged to profit or loss
60



At end of year
(3,364)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(3,421)
(3,559)

Short term timing differences
57
135

(3,364)
(3,424)


14.


Controlling party

The company is under the control of the directors.

 
Page 12