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REGISTERED NUMBER: SC200640 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

INFOTECHNICS LIMITED

INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

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


INFOTECHNICS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B P Pacitti
J Howard





REGISTERED OFFICE: 1 George Square
Glasgow
Aberdeen
Scotland
G2 1AL





REGISTERED NUMBER: SC200640 (Scotland)






INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,685 10,186
Investments 5 289,069 136,296
300,754 146,482

CURRENT ASSETS
Debtors 6 313,195 316,015
Cash at bank 178,130 372,147
491,325 688,162
CREDITORS
Amounts falling due within one year 7 432,570 602,623
NET CURRENT ASSETS 58,755 85,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,509

232,021

CREDITORS
Amounts falling due after more than one
year

8

(14,949

)

(24,846

)

PROVISIONS FOR LIABILITIES (1,437 ) (1,935 )
NET ASSETS 343,123 205,240

CAPITAL AND RESERVES
Called up share capital 8 8
Revaluation reserve 9 167,069 14,296
Retained earnings 176,046 190,936
343,123 205,240

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.

INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2024 and were signed on its behalf by:





B P Pacitti - Director


INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Infotechnics Limited is a private company, limited by shares , registered in Scotland. 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 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 as modified by the revaluation of certain assets.

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 each asset over its estimated useful life.
Fixtures and fittings - 25% on cost and 25% on reducing balance
Computer equipment - 25% on cost and 25% on reducing balance

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.

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 12 (2022 - 10 ) .

INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 5,153 81,465 86,618
Additions - 4,678 4,678
Disposals (3,946 ) (15,996 ) (19,942 )
At 31 December 2023 1,207 70,147 71,354
DEPRECIATION
At 1 January 2023 4,122 72,310 76,432
Charge for year 302 2,877 3,179
Eliminated on disposal (3,946 ) (15,996 ) (19,942 )
At 31 December 2023 478 59,191 59,669
NET BOOK VALUE
At 31 December 2023 729 10,956 11,685
At 31 December 2022 1,031 9,155 10,186

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 136,296
Revaluations 152,773
At 31 December 2023 289,069
NET BOOK VALUE
At 31 December 2023 289,069
At 31 December 2022 136,296

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2020 135,715
Valuation in 2021 220,725
Valuation in 2022 (220,144 )
Valuation in 2023 152,773
289,069

INFOTECHNICS LIMITED (REGISTERED NUMBER: SC200640)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 293,903 226,923
Other debtors 19,292 89,092
313,195 316,015

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,018 7,005
Taxation and social security 115,693 37,632
Other creditors 299,859 547,986
432,570 602,623

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,949 24,846

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023 14,296
Intangible 152,773

At 31 December 2023 167,069

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.