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REGISTERED NUMBER: SC378630 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

INTELLICO CATERING EQUIPMENT LIMITED

INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INTELLICO CATERING EQUIPMENT LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Richard Hose





REGISTERED OFFICE: Unit 5, 7 Regency Way
Coronation Road Industrial Estate
New Stevenston
Motherwell
North Lanarkshire
ML1 4HR





REGISTERED NUMBER: SC378630 (Scotland)





ACCOUNTANTS: Thomson Currie Accountancy Limited
Chartered Accountants
7 Pickering House
Netherton Road
Wishaw
ML2 0EQ

INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,321 14,232
Tangible assets 5 49,868 33,414
80,189 47,646

CURRENT ASSETS
Stocks 42,061 34,761
Debtors 17,429 30,589
Cash at bank 26,813 58,289
86,303 123,639
CREDITORS
Amounts falling due within one year 86,291 92,347
NET CURRENT ASSETS 12 31,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,201

78,938

CREDITORS
Amounts falling due after more than one
year

(55,018

)

(67,704

)

PROVISIONS FOR LIABILITIES (9,657 ) (6,987 )
NET ASSETS 15,526 4,247

CAPITAL AND RESERVES
Called up share capital 7 120 120
Share premium 3,988 3,988
Retained earnings 11,418 139
SHAREHOLDERS' FUNDS 15,526 4,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Abridged Balance Sheet - continued
30 September 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 Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 29 November 2024 and were signed by:





Richard Hose - Director


INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

INTELLICO CATERING EQUIPMENT LIMITED is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the consideration received or receivable, excluding value added tax. Turnover from the sale of goods is recognised at the date of the sale, and turnover from the provision of services is recognised on completion of the service.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Cryptocurrencies are being revalued each year at the balance sheet date.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

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 Profit and Loss Account, 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.


INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 October 2023 25,722
Additions 7,000
Revaluations 12,439
At 30 September 2024 45,161
AMORTISATION
At 1 October 2023 11,490
Amortisation for year 3,350
At 30 September 2024 14,840
NET BOOK VALUE

At 30 September 2024 30,321
At 30 September 2023 14,232

INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Totals
£   
Valuation in 2021 16,750
Valuation in 2022 1,898
Valuation in 2023 7,074
Valuation in 2024 19,439
45,161

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 76,423
Additions 27,603
Disposals (11,798 )
At 30 September 2024 92,228
DEPRECIATION
At 1 October 2023 43,009
Charge for year 10,488
Eliminated on disposal (11,137 )
At 30 September 2024 42,360
NET BOOK VALUE
At 30 September 2024 49,868
At 30 September 2023 33,414

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

Totals
£   
COST
At 1 October 2023 22,409
Additions 25,234
At 30 September 2024 47,643
DEPRECIATION
At 1 October 2023 2,802
Charge for year 7,005
At 30 September 2024 9,807
NET BOOK VALUE
At 30 September 2024 37,836
At 30 September 2023 19,607

INTELLICO CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: SC378630)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 55,108 96,159
Hire purchase contracts 37,246 17,262
92,354 113,421

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
120 Ordinary £1 120 120

8. RELATED PARTY DISCLOSURES

The director has provided a personal guarantee to the maximum extent of £158,850 in respect of the bank loan facilities in place.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Richard Hose.