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Registered number: 08679273
Intechnic Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Tenia Business Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08679273
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,468 20,473
3,468 20,473
CURRENT ASSETS
Debtors 5 119,918 126,189
Cash at bank and in hand 29,176 10,710
149,094 136,899
Creditors: Amounts Falling Due Within One Year 6 (61,597 ) (107,090 )
NET CURRENT ASSETS (LIABILITIES) 87,497 29,809
TOTAL ASSETS LESS CURRENT LIABILITIES 90,965 50,282
Creditors: Amounts Falling Due After More Than One Year 7 (34,192 ) (40,964 )
NET ASSETS 56,773 9,318
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 56,772 9,317
SHAREHOLDERS' FUNDS 56,773 9,318
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Pavel Dudojt
Director
28/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Intechnic Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08679273 . The registered office is 94 Longleaze, Royal Wootton Bassett, Swindon, Wiltshire, SN4 8AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line over 5 years
Motor Vehicles Straight line over 5 years
Fixtures & Fittings Straight line over 3 years
Computer Equipment Straight line over 3 years
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 12)
6 12
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2023 40,468 42,723 2,412 85,603
As at 30 September 2024 40,468 42,723 2,412 85,603
Depreciation
As at 1 October 2023 30,374 32,711 2,045 65,130
Provided during the period 8,093 8,545 367 17,005
As at 30 September 2024 38,467 41,256 2,412 82,135
Net Book Value
As at 30 September 2024 2,001 1,467 - 3,468
As at 1 October 2023 10,094 10,012 367 20,473
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 91,429 98,262
Other debtors 28,489 27,927
119,918 126,189
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 33,288 71,848
Other creditors 351 880
Taxation and social security 27,958 34,362
61,597 107,090
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,731 40,621
Other creditors 3,461 343
34,192 40,964
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4