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REGISTERED NUMBER: 01849686 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Integrated Glueing Technology Limited

Integrated Glueing Technology Limited (Registered number: 01849686)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Integrated Glueing Technology Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: E M Baldy
N S Lyons
Miss A Vezendi





REGISTERED OFFICE: 3 Lancaster Park Industrial Estate
Bowerhill
Melksham
Wiltshire
SN12 6TT





REGISTERED NUMBER: 01849686 (England and Wales)

Integrated Glueing Technology Limited (Registered number: 01849686)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,318 17,439
Investments 5 - 1,898
43,318 19,337

CURRENT ASSETS
Stocks 307,355 266,437
Debtors 6 446,111 664,560
Cash at bank and in hand 1,242,409 387,068
1,995,875 1,318,065
CREDITORS
Amounts falling due within one year 7 192,900 200,608
NET CURRENT ASSETS 1,802,975 1,117,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,846,293

1,136,794

PROVISIONS FOR LIABILITIES 4,400 1,766
NET ASSETS 1,841,893 1,135,028

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 599,700 599,700
Retained earnings 1,241,193 534,328
SHAREHOLDERS' FUNDS 1,841,893 1,135,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





E M Baldy - Director


Integrated Glueing Technology Limited (Registered number: 01849686)

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

1. STATUTORY INFORMATION

Integrated Glueing Technology 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.

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

The financial statements have been prepared on a going concern basis as the company has the continued support of the group and its directors.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

Revenue from the sale of goods is recognised when title to the goods passes to the customer, normally on despatch. Revenue from the provision of services is recognised on completion of the relevant service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment- 20% on straight line basis
Plant and machinery- 10% on reducing balance
Fixtures and fittings- 25% on reducing balance and 10% on reducing balance
Motor vehicles- 25% on reducing balance

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.


Integrated Glueing Technology Limited (Registered number: 01849686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid under operating leases are charged to the profit and loss account 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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 23,751 12,887 11,521 16,795 64,954
Additions 5,269 169 18,847 6,307 30,592
Disposals (3,026 ) (137 ) - (5,224 ) (8,387 )
At 30 November 2023 25,994 12,919 30,368 17,878 87,159
DEPRECIATION
At 1 December 2022 14,879 10,816 7,638 14,182 47,515
Charge for year 1,096 199 1,363 1,858 4,516
Eliminated on disposal (2,870 ) (96 ) - (5,224 ) (8,190 )
At 30 November 2023 13,105 10,919 9,001 10,816 43,841
NET BOOK VALUE
At 30 November 2023 12,889 2,000 21,367 7,062 43,318
At 30 November 2022 8,872 2,071 3,883 2,613 17,439

Integrated Glueing Technology Limited (Registered number: 01849686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022 1,898
Disposals (1,898 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 1,898

During the year the company closed 100% of its subsidiary Robatech Midwest Inc. The financial gain on the shut down is £683,837 which has been subjected to American taxes.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 228,754 219,516
Other debtors 57,925 2,559
Amounts due from group undertakings 139,517 418,505
Prepayments and accrued income 19,915 23,980
446,111 664,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 40,945 70,283
Amounts owed to group undertakings 52,886 -
Tax 19,147 22,456
Social security and other taxes 61,305 92,616
Other creditors 12,317 10,705
Accrued expenses 6,300 4,548
192,900 200,608

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,029 12,394
Between one and five years 27,680 2,126
41,709 14,520