IRIS Accounts Production v24.2.0.383 03523073 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035230732023-03-31035230732024-03-31035230732023-04-012024-03-31035230732022-03-31035230732022-04-012023-03-31035230732023-03-3103523073ns15:EnglandWales2023-04-012024-03-3103523073ns14:PoundSterling2023-04-012024-03-3103523073ns10:Director12023-04-012024-03-3103523073ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103523073ns10:SmallEntities2023-04-012024-03-3103523073ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103523073ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103523073ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103523073ns10:FullAccounts2023-04-012024-03-3103523073ns10:Director22023-04-012024-03-3103523073ns10:Director32023-04-012024-03-3103523073ns10:RegisteredOffice2023-04-012024-03-3103523073ns5:CurrentFinancialInstruments2024-03-3103523073ns5:CurrentFinancialInstruments2023-03-3103523073ns5:Non-currentFinancialInstruments2024-03-3103523073ns5:Non-currentFinancialInstruments2023-03-3103523073ns5:ShareCapital2024-03-3103523073ns5:ShareCapital2023-03-3103523073ns5:RetainedEarningsAccumulatedLosses2024-03-3103523073ns5:RetainedEarningsAccumulatedLosses2023-03-3103523073ns5:PlantMachinery2023-03-3103523073ns5:PlantMachinery2023-04-012024-03-3103523073ns5:PlantMachinery2024-03-3103523073ns5:PlantMachinery2023-03-3103523073ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103523073ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 03523073 (England and Wales)









INTREPID TECHNOLOGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTREPID TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: PFG Grant
JCG Grant
M S Grant





REGISTERED OFFICE: Unit 22 Sanders Road Industrial Estate
Sanders Road
Bromsgrove
Worcestershire
B61 7DG





REGISTERED NUMBER: 03523073 (England and Wales)





ACCOUNTANTS: UHY Hacker Young (Bham) LLP
9-11 Vittoria Street
Birmingham
B1 3ND

INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,611 39,210

CURRENT ASSETS
Stocks 32,283 31,977
Debtors 5 39,322 39,479
Cash at bank 75,942 55,468
147,547 126,924
CREDITORS
Amounts falling due within one year 6 38,075 30,373
NET CURRENT ASSETS 109,472 96,551
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,083

135,761

CREDITORS
Amounts falling due after more than
one year

7

13,333

25,276
NET ASSETS 125,750 110,485

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 125,749 110,484
125,750 110,485

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

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

INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





PFG Grant - Director


INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Intrepid Technology 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.

The presentational and functional currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.

Measurement convention
The financial statements are prepared on the historical cost basis except in the instance where assets and liabilities are stated at their fair value.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they have adopted the going concern basis of accounting in preparing these financial statements.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

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.

INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other income, in which case it is recognised directly in equity or other income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

INTREPID TECHNOLOGY LIMITED (REGISTERED NUMBER: 03523073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 105,910
DEPRECIATION
At 1 April 2023 66,700
Charge for year 9,599
At 31 March 2024 76,299
NET BOOK VALUE
At 31 March 2024 29,611
At 31 March 2023 39,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 39,322 39,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 1,943 8,287
Trade creditors 2,000 -
Taxation and social security 21,273 9,678
Other creditors 2,859 2,408
38,075 30,373

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,333 23,333
Hire purchase contracts - 1,943
13,333 25,276