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REGISTERED NUMBER: 07143763 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Intelisense It Limited

Intelisense It Limited (Registered number: 07143763)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Intelisense It Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr A Khan





REGISTERED OFFICE: Vulcan House
Pendeford Business Park
Wolverhampton
United Kingdom
WV9 5HA





REGISTERED NUMBER: 07143763 (England and Wales)





ACCOUNTANTS: Portfolio Accountants Ltd
9 Shottery Brook Office Park
Timothys Bridge Road
Stratford-Upon-Avon
CV37 9NR

Intelisense It Limited (Registered number: 07143763)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,976 33,914

CURRENT ASSETS
Debtors 5 354,019 368,250
Cash at bank and in hand 1,282,719 1,035,524
1,636,738 1,403,774
CREDITORS
Amounts falling due within one year 6 670,905 519,074
NET CURRENT ASSETS 965,833 884,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,010,809

918,614

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,010,709 918,514
SHAREHOLDERS' FUNDS 1,010,809 918,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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





Mr A Khan - Director


Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Intelisense It 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.

The presentation currency of the financial statements is the Pound Sterling (£).


All monetary amounts are rounded to the nearest pound.

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.

Going concern
The financial statements have been prepared on a going concern basis.

Judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.
Computer equipment - 25% on reducing balance

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.

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

Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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 33 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023 85,368
Additions 22,174
At 29 February 2024 107,542
DEPRECIATION
At 1 March 2023 51,454
Charge for year 11,112
At 29 February 2024 62,566
NET BOOK VALUE
At 29 February 2024 44,976
At 28 February 2023 33,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 311,690 133,163
Prepayments and accrued income 42,329 235,087
354,019 368,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,030 63,645
Amounts owed to group undertakings 151,181 35,059
Tax 56,468 53,673
Social security and other taxes (4,044 ) 34,459
Pensions Payable 3,351 (478 )
Wages Payable 4,490 2,885
VAT 213,963 71,080
Other creditors 75 1,981
Accruals and deferred income 229,391 256,770
670,905 519,074

Intelisense It Limited (Registered number: 07143763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
84 Ordinary A 1 84 84
8 Ordinary B 1 8 8
8 Ordinary C 1 8 8
100 100

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Intelisense Group Ltd a company incorporated in England and Wales. The registered office is the same as Intelisense IT Limited, the details of which can be found on the company information page.