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Registration number: 07079859

Intellection Business Intelligence Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Intellection Business Intelligence Limited

Contents
for the Year Ended 30 November 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Intellection Business Intelligence Limited

Company Information
for the Year Ended 30 November 2023

Directors

J Daly

M Daly

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

07079859 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Intellection Business Intelligence Limited

(Registration number: 07079859)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

483

884

Current assets

 

Debtors

5

22,521

25,367

Cash at bank and in hand

 

5,670

8,319

 

28,191

33,686

Creditors: Amounts falling due within one year

6

(18,981)

(19,544)

Net current assets

 

9,210

14,142

Total assets less current liabilities

 

9,693

15,026

Creditors: Amounts falling due after more than one year

6

(9,000)

(13,500)

Net assets

 

693

1,526

Capital and reserves

 

Called up share capital

2

2

Retained earnings

691

1,524

Shareholders' funds

 

693

1,526

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

 

Intellection Business Intelligence Limited

(Registration number: 07079859)
Balance Sheet as at 30 November 2023

.........................................
J Daly
Director

 

Intellection Business Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 23 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Intellection Business Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and equipment

33% Straight Line

Motor vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Intellection Business Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

6,100

11,344

17,444

At 30 November 2023

6,100

11,344

17,444

Depreciation

At 1 December 2022

5,695

10,865

16,560

Charge for the year

281

120

401

At 30 November 2023

5,976

10,985

16,961

Carrying amount

At 30 November 2023

124

359

483

At 30 November 2022

405

479

884

5

Debtors

2023
£

2022
£

Other debtors

22,143

24,989

Prepayments

378

378

22,521

25,367

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,500

4,500

Taxation and social security

 

12,681

13,244

Accruals and deferred income

 

1,800

1,800

 

18,981

19,544

 

Intellection Business Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9,000

13,500

7

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Director advances and credits

14,455

12,758

(15,605)

11,608

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Director advances and credits

32,411

34,076

(52,032)

14,455

 

Other transactions with directors

The balance due from the directors at the year end date was deemed repayable on demand. Interest was charged at 2% on the outstanding balance.