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
Izak Engineering Ltd
Company Information
for the year ended 31 January 2024
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
Izak Engineering Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
6,786
8,065
Cash at bank and in hand
239
1,109
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
Net liabilities
(4,630)
(3,342)
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
Izak Engineering Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
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 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 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.
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
At 31 January 2024
10,832
3,000
5,273
19,105
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
At 31 January 2024
3,313
786
2,687
6,786
At 31 January 2023
3,549
983
3,533
8,065
Amounts falling due within one year
Accrued income and prepayments
-
700
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,000
3,000
Trade creditors
3,900
3,066
Loans from directors
4,463
2,258
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).