Company Registration No. SC287591 (Scotland)
Industrial Access Systems Limited
Unaudited accounts
for the year ended 31 July 2024
Industrial Access Systems Limited
Unaudited accounts
Contents
Industrial Access Systems Limited
Company Information
for the year ended 31 July 2024
Directors
Shaun Donnelly
Anne Donnelly
Company Number
SC287591 (Scotland)
Registered Office
Unit 15, Queenslie Point
Queenslie Industrial Estate
Glasgow
G33 3NQ
Scotland
Accountants
Malcolm Shepherd & Co Ltd C.A.
151 Kirkintilloch Road
Bishopbriggs
Glasgow
G64 2LS
Industrial Access Systems Limited
Statement of financial position
as at 31 July 2024
Intangible assets
39,437
55,749
Tangible assets
423,612
199,367
Inventories
120,875
115,550
Cash at bank and in hand
30,589
48,601
Creditors: amounts falling due within one year
(415,146)
(377,111)
Net current liabilities
(139,352)
(134,904)
Total assets less current liabilities
323,697
120,212
Creditors: amounts falling due after more than one year
(336,082)
(231,163)
Net liabilities
(12,385)
(110,951)
Called up share capital
18
18
Revaluation reserve
95,000
95,000
Profit and loss account
(107,403)
(205,969)
Shareholders' funds
(12,385)
(110,951)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by
Shaun Donnelly
Director
Company Registration No. SC287591
Industrial Access Systems Limited
Notes to the Accounts
for the year ended 31 July 2024
Industrial Access Systems Limited is a private company, limited by shares, registered in Scotland, registration number SC287591. The registered office is Unit 15, Queenslie Point, Queenslie Industrial Estate, Glasgow, G33 3NQ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Charge for the year
16,312
Industrial Access Systems Limited
Notes to the Accounts
for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
490,012
147,273
9,697
646,982
Additions
251,109
127,031
2,398
380,538
Disposals
(144,000)
-
-
(144,000)
At 31 July 2024
597,121
274,304
12,095
883,520
At 1 August 2023
332,429
107,202
7,984
447,615
Charge for the year
98,400
41,775
1,026
141,201
On disposals
(128,908)
-
-
(128,908)
At 31 July 2024
301,921
148,977
9,010
459,908
At 31 July 2024
295,200
125,327
3,085
423,612
At 31 July 2023
157,583
40,071
1,713
199,367
Amounts falling due within one year
Trade debtors
124,305
77,756
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
9,061
Obligations under finance leases and hire purchase contracts
201,716
187,034
Trade creditors
179,592
112,061
Taxes and social security
8,359
7,184
Loans from directors
12,629
21,392
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
336,082
224,588
9
Average number of employees
During the year the average number of employees was 9 (2023: 9).