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REGISTERED NUMBER: 12263819 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Intec Business Technology Limited

Intec Business Technology Limited (Registered number: 12263819)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Intec Business Technology Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R W Vogt
Mrs M M Rambridge





REGISTERED OFFICE: Reedham House
31 King Street West
United Kingdom
Manchester
M3 2PJ





BUSINESS ADDRESS: Queens Chambers
5 John Dalton Street
Manchester
Greater Manchester
M2 6ET





REGISTERED NUMBER: 12263819 (England and Wales)





AUDITORS: Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Intec Business Technology Limited (Registered number: 12263819)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 23,152,744 17,278,804

CURRENT ASSETS
Debtors 5 80,000 -

CREDITORS
Amounts falling due within one year 6 1,531,973 2,294,720
NET CURRENT LIABILITIES (1,451,973 ) (2,294,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,700,771

14,984,084

CREDITORS
Amounts falling due after more than one year 7 21,932,346 15,215,659
NET LIABILITIES (231,575 ) (231,575 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (232,575 ) (232,575 )
(231,575 ) (231,575 )

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 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 31 October 2024 and were signed on its behalf by:





R W Vogt - Director


Intec Business Technology Limited (Registered number: 12263819)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Intec Business 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.

Preparation of consolidated financial statements
The financial statements contain information about Intec Business Communications Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Intec Business Holdings Limited.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Going concern
The company's financial statements for the year ended 31 December 2023 have been prepared on a going concern basis as after making appropriate enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Intec Business Technology Limited (Registered number: 12263819)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 17,278,804
Additions 5,873,940
At 31 December 2023 23,152,744
NET BOOK VALUE
At 31 December 2023 23,152,744
At 31 December 2022 17,278,804

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed by group undertakings 80,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1,531,973 2,294,720

Included within other creditors is a deferred consideration amounting to £624,748 due on acquisition of one the subsidiary undertakings. The amount is currently in dispute and subject to legal proceedings.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 21,932,346 15,215,659

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Caplan BSc (Hons) BFP FCA (Senior Statutory Auditor)
for and on behalf of Freedman Frankl & Taylor

9. CONTINGENT LIABILITIES

The company has guaranteed the loan facilities of a group company. The loan balance was £25,150,000 as at 31 December 2023.

Intec Business Technology Limited (Registered number: 12263819)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The company's parent undertaking at the balance sheet was of Intec Business Holdings Limited, a company registered in England and Wales.

Registered OfficeReedham House
31 King Street West
Manchester
United Kingdom
M3 2PJ