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REGISTERED NUMBER: 06772202 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Investment Tooling International Limited

Investment Tooling International Limited (Registered number: 06772202)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Investment Tooling International Limited (Registered number: 06772202)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 188,408 110,372
188,408 110,372

CURRENT ASSETS
Stocks 24,096 199,354
Debtors 6 296,797 596,431
Cash at bank and in hand 272,026 217,449
592,919 1,013,234
CREDITORS
Amounts falling due within one year 7 119,748 524,604
NET CURRENT ASSETS 473,171 488,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

661,579

599,002

CREDITORS
Amounts falling due after more than one
year

8

61,543

-
NET ASSETS 600,036 599,002

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 600,035 599,001
SHAREHOLDERS' FUNDS 600,036 599,002

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

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

The directors acknowledge their 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.

Investment Tooling International Limited (Registered number: 06772202)

Balance Sheet - continued
30 June 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:




N J Harrison - Director



R Golson - Director


Investment Tooling International Limited (Registered number: 06772202)

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

1. STATUTORY INFORMATION

Investment Tooling International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06772202

Registered office: 4a Moston Road
Middleton Junction
Manchester
M24 1SL

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

Controlling party

The Company is a wholly owned subsidiary of Integrated Manufacturing Group Limited. The registered office of the parent company is 6 Congreve Approach, Bardsey, Leeds, LS17 9 BN.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Plant & machinery10% reducing balance
Motor vehicles20% reducing balance
Fixtures & fittings20% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment Tooling International Limited (Registered number: 06772202)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and that of directors' personal pension schemes are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by shareholders at an Annual General Meeting.

Investment Tooling International Limited (Registered number: 06772202)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors, and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 (282,499 )
AMORTISATION
At 1 July 2023
and 30 June 2024 (282,499 )
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Investment Tooling International Limited (Registered number: 06772202)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 407,456
Additions 95,499
Disposals (41,500 )
At 30 June 2024 461,455
DEPRECIATION
At 1 July 2023 297,084
Charge for year 8,235
Eliminated on disposal (32,272 )
At 30 June 2024 273,047
NET BOOK VALUE
At 30 June 2024 188,408
At 30 June 2023 110,372

The net book value of tangible fixed assets includes £ 90,724 in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,850 468,110
Amounts owed by group undertakings 147,773 80,697
Other debtors 32,174 47,624
296,797 596,431

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 17,175 -
Trade creditors 44,933 137,474
Taxation and social security 32,692 67,846
Other creditors 24,948 319,284
119,748 524,604

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 61,543 -

Investment Tooling International Limited (Registered number: 06772202)

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

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 17,175 -
Between one and five years 61,543 -
78,718 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 78,718 -

Liabilities under hire purchase contracts are secured on the assets to which the contract relates.

11. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 1 1