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Company Registration No. 10575173 (England and Wales)
Izak Engineering Ltd Unaudited accounts for the year ended 31 January 2024
Izak Engineering Ltd Unaudited accounts Contents
Page
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Izak Engineering Ltd Company Information for the year ended 31 January 2024
Director
A Moss
Company Number
10575173 (England and Wales)
Registered Office
Unit 16A Kiln Lane Harpur Hill Industrial Estate Buxton SK17 9JL England
Accountants
Daniel Sam Limited 61 Plodder Lane Farnworth Bolton BL4 0BX
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Izak Engineering Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,786 
8,065 
Current assets
Inventories
300 
300 
Debtors
6,756 
3,995 
Cash at bank and in hand
239 
1,109 
7,295 
5,404 
Creditors: amounts falling due within one year
(11,594)
(8,324)
Net current liabilities
(4,299)
(2,920)
Total assets less current liabilities
2,487 
5,145 
Creditors: amounts falling due after more than one year
(6,953)
(8,000)
Provisions for liabilities
Deferred tax
(164)
(487)
Net liabilities
(4,630)
(3,342)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(4,631)
(3,343)
Shareholders' funds
(4,630)
(3,342)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2024 and were signed on its behalf by
A Moss Director Company Registration No. 10575173
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Izak Engineering Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Izak Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 10575173. The registered office is Unit 16A Kiln Lane, Harpur Hill Industrial Estate, Buxton, SK17 9JL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Computer equipment
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Izak Engineering Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2023
10,240 
3,000 
5,273 
18,513 
Additions
592 
- 
- 
592 
At 31 January 2024
10,832 
3,000 
5,273 
19,105 
Depreciation
At 1 February 2023
6,691 
2,017 
1,740 
10,448 
Charge for the year
828 
197 
846 
1,871 
At 31 January 2024
7,519 
2,214 
2,586 
12,319 
Net book value
At 31 January 2024
3,313 
786 
2,687 
6,786 
At 31 January 2023
3,549 
983 
3,533 
8,065 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
109 
Trade debtors
6,756 
3,186 
Accrued income and prepayments
- 
700 
6,756 
3,995 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,000 
3,000 
VAT
231 
- 
Trade creditors
3,900 
3,066 
Loans from directors
4,463 
2,258 
11,594 
8,324 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,953 
8,000 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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