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REGISTERED NUMBER: 06599513 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Intelligence Technologies Limited

Intelligence Technologies Limited (Registered number: 06599513)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Intelligence Technologies Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: T Waring
L D R Waring





SECRETARY: L D R Waring





REGISTERED OFFICE: 8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL





REGISTERED NUMBER: 06599513 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

Intelligence Technologies Limited (Registered number: 06599513)

Abridged Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,476 18,695

CURRENT ASSETS
Stocks 24,844 5,677
Debtors 1,100,015 1,143,993
Cash at bank 103,650 85,737
1,228,509 1,235,407
CREDITORS
Amounts falling due within one year 332,723 415,452
NET CURRENT ASSETS 895,786 819,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,262

838,650

CREDITORS
Amounts falling due after more than one
year

8,939

17,310
NET ASSETS 901,323 821,340

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 901,223 821,240
SHAREHOLDERS' FUNDS 901,323 821,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Intelligence Technologies Limited (Registered number: 06599513)

Abridged Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

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





T Waring - Director


Intelligence Technologies Limited (Registered number: 06599513)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Intelligence Technologies 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.

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.

Turnover
The turnover represents net invoiced sales of goods and services, excluding value added tax, arising from internet monitoring services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 2 (2023 - 2 ) .

Intelligence Technologies Limited (Registered number: 06599513)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 45,630
Additions 666
Disposals (333 )
At 31 May 2024 45,963
DEPRECIATION
At 1 June 2023 26,935
Charge for year 4,825
Eliminated on disposal (273 )
At 31 May 2024 31,487
NET BOOK VALUE
At 31 May 2024 14,476
At 31 May 2023 18,695

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

6. SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
T Waring and L D R Waring
Balance outstanding at start of year 377,857 387,038
Amounts advanced 67,400 65,200
Amounts repaid (187,299 ) (74,381 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 257,958 377,857

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £1,041,438 (2023: £1,082,707) from related parties. These are interest free loans with no fixed repayment terms.

8. ULTIMATE CONTROLLING PARTY

T & L Waring control the company by virtue of their shareholding.