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REGISTERED NUMBER: 07108280 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Instinctive Technologies Ltd

Instinctive Technologies Ltd (Registered number: 07108280)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Instinctive Technologies Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs D J Cox
A G Cox





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 07108280 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Instinctive Technologies Ltd (Registered number: 07108280)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 218,508 61,733

CURRENT ASSETS
Debtors 5 387,609 542,494
Cash at bank 946,450 1,050,495
1,334,059 1,592,989
CREDITORS
Amounts falling due within one year 6 351,835 320,327
NET CURRENT ASSETS 982,224 1,272,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,200,732

1,334,395

CREDITORS
Amounts falling due after more than one
year

7

(62,343

)

-

PROVISIONS FOR LIABILITIES (22,823 ) (13,338 )
NET ASSETS 1,115,566 1,321,057

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,115,466 1,320,957
SHAREHOLDERS' FUNDS 1,115,566 1,321,057

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

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

Instinctive Technologies Ltd (Registered number: 07108280)

Balance Sheet - continued
31 January 2024


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 October 2024 and were signed on its behalf by:




A G Cox - Director



Mrs D J Cox - Director


Instinctive Technologies Ltd (Registered number: 07108280)

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

1. STATUTORY INFORMATION

Instinctive Technologies Ltd 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
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Instinctive Technologies Ltd (Registered number: 07108280)

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

2. ACCOUNTING POLICIES - continued

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 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 139,062
Additions 231,760
Disposals (374 )
At 31 January 2024 370,448
DEPRECIATION
At 1 February 2023 77,329
Charge for year 74,734
Eliminated on disposal (123 )
At 31 January 2024 151,940
NET BOOK VALUE
At 31 January 2024 218,508
At 31 January 2023 61,733

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 105,522
At 31 January 2024 105,522
DEPRECIATION
Charge for year 26,381
At 31 January 2024 26,381
NET BOOK VALUE
At 31 January 2024 79,141

Instinctive Technologies Ltd (Registered number: 07108280)

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

5. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 323,712 508,279
Other debtors 63,897 34,160
387,609 542,439

Amounts falling due after more than one year:
Other debtors - 55

Aggregate amounts 387,609 542,494

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts (see note 8) 12,077 -
Trade creditors 162,447 169,653
Taxation and social security 21,277 31,385
Other creditors 156,034 119,289
351,835 320,327

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts (see note 8) 62,343 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 12,077 -
Between one and five years 62,343 -
74,420 -

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 75,904 76,091
Between one and five years 148,906 224,079
224,810 300,170