Registered number
11198218
INDIGO SUPPORT LIMITED
Unaudited Filleted Accounts
31 December 2023
INDIGO SUPPORT LIMITED
Registered number: 11198218
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,709 3,573
Tangible assets 4 4,673 11,600
6,382 15,173
Current assets
Debtors 5 398,532 314,357
Cash at bank and in hand 281,355 186,717
679,887 501,074
Creditors: amounts falling due within one year 6 (315,498) (282,448)
Net current assets 364,389 218,626
Total assets less current liabilities 370,771 233,799
Creditors: amounts falling due after more than one year 7 (14,167) (24,167)
Provisions for liabilities (1,596) (2,883)
Net assets 355,008 206,749
Capital and reserves
Called up share capital 100 100
Share premium 17,985 17,985
Profit and loss account 336,923 188,664
Shareholders' funds 355,008 206,749
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Hastie
Director
Approved by the board on 25 September 2024
INDIGO SUPPORT LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Presentation currency
The accounts are presented in pound (£) sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 3 years Straight line
Computer & office equipment 3 years Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 29 30
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 10,000
At 31 December 2023 10,000
Amortisation
At 1 January 2023 6,427
Provided during the year 1,864
At 31 December 2023 8,291
Net book value
At 31 December 2023 1,709
At 31 December 2022 3,573
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 January 2023 4,996 42,256 47,252
At 31 December 2023 4,996 42,256 47,252
Depreciation
At 1 January 2023 4,996 30,656 35,652
Charge for the year - 6,927 6,927
At 31 December 2023 4,996 37,583 42,579
Net book value
At 31 December 2023 - 4,673 4,673
At 31 December 2022 - 11,600 11,600
5 Debtors 2023 2022
£ £
Trade debtors 271,364 247,943
Other debtors 127,168 66,414
398,532 314,357
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Taxation and social security costs 220,751 219,992
Other creditors 84,747 52,456
315,498 282,448
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,167
8 Related party transactions
At the end of the financial year, the Director owed the Company £72,265 (2022: £66,414). This loan is interest free and will be repaid within 9 months of the financial year end.
9 Other information
INDIGO SUPPORT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Queensway House
Queensway
Middlesbrough
TS3 8TF
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